BP's Q2 Estimates Downgraded, But This Analyst Anticipates 10% Dividend Hike And Continued Buybacks

RBC Capital Markets analyst Biraj Borkhataria updated estimates of BP p.l.c. BP following its second-quarter trading update release this morning. The analyst rates BP with an Outperform rating and a 650p price target. Thus, the analyst cut the Gas and low-carbon operating profit estimate from $2.4 billion to $1.6 billion. Ahead of the results, the analyst continues to expect BP to raise its dividend by 10% and confirm buybacks totaling $1.75 billion per quarter for the next six months. Disclaimer: This cont ...