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Stocks in BP rose almost 7 percent in early trading on Monday, as investors responded to the news that the activist Hedge Fund Elliott Management built a stake in the fight of oil.
The shares rose to 462p, after closing on Friday at 433,25p.
Size Elliott’s stake Not published, but his involvement in the BP, which was first reported on Saturday, will encourage a conversation about the overhaul of the group strategy and the earthquake of its committee.
“We think that every activist would at least invite the Chairman of the President,” said Borkhataria, an analyst from RBC Capital Markets.
BPSOne of the 10 best companies on the London Stock Exchange by market capitalization suffered a drop in shares of almost 10 percent last year, while investors criticized his weaker and uncertainty about his strategy.
The Helge Lund has been chaired by a group since 2019. It was said last month that the investor Day will be delayed for this week until February 26, so that the Murray Auchincloss CEO can recover from the “planned medical procedure”.
Auchincloss is expected to use an event to try to convince investors that he has the right strategy for the company.
Analysts in Jefferies said they believed ElliottThe share of the company could result in changes in the committee and reducing its business “with an emphasis on the exit of low carbon property and certain retail regions.”
The HEDGE Fund could also be encouraged to have capital expenses to focus on ascending projects, which would maximize the creation of a cash flow, they added.
Borkhataria suggested that the estimate of the BP value from the BP sum would be much higher than the current value of the company in the amount of about $ 130 billion, including debt.
