According to circles, the US hedge fund Elliott Management has acquired a larger stock position of the oil company BP.
The participation company of the activist investor Paul Singer wool demands measures to increase the value for the shareholders, the Bloomberg news agency reported at the weekend, citing the matter. The exact amount of the participation is not known. BP’s share price development has long been lags that of rivals such as Shell and Exxonmobil.
Investors are currently waiting for a BP capital market day on February 26th. On the CEO Murray Aschtin Close is again likely to present a stronger focus on the classic oil and gas business. A year ago, the manager took over the helm permanently after initially led the oil company to interimistic after the resignation of his predecessor Bernard Looney.
In addition to the corporate strategy, the subject of stock returns will also be important at the end of February. BP had announced in autumn that there could be fewer return purchases of their own stocks in 2025 than before. The outlook for return purchases of at least $ 14 billion is still available in the coming year, based on the market environment for the figures for the final quarter of 2023, said BP at the time. In the course of the update of the medium -term goals, the buyback plans should also be examined.
>/MIS
London (dpa-Afx)
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