London, Feb 13, 2026, 08:03 GMT — Regular session
BP Plc slipped another 0.8% to 454.4 pence in early London trading Friday, giving back more ground after Thursday’s 3.1% slide. Fresh broker warnings seemed to weigh as investors reassessed positions.
BP is facing heavier selling just as it tries to recalibrate investor hopes for cash returns, with oil prices offering less support these days. On Tuesday, the company announced it’s pausing its $750 million-per-quarter share buybacks, steering more cash toward cutting debt. BP also booked roughly $4 billion in writedowns tied to renewables and biogas. “I really don’t like taking impairments,” finance chief Kate Thomson told Reuters. Reuters
Crude’s been no friend lately. Brent slipped 0.1% to $67.46 a barrel by 0448 GMT, on track for its second weekly drop. IG analyst Tony Sycamore cited easing Iran fears that are “reducing the near-term geopolitical risk premium,” while the IEA flagged a risk that supply might soon outpace demand. Reuters
HSBC’s Kim Fustier issued another bearish call this week, downgrading BP to “Reduce” and trimming her price target. The strategy pivot could make sense, she wrote, but any tangible benefits are distant. With the buyback on hold, BP now sports the lowest yield in its peer group and, according to Fustier, there’s little on the horizon to spark a re-rating. TipRanks
BP highlighted a shift in its holdings, offloading a 10% slice of the Shafag solar project in Azerbaijan to Hungary’s MVM Energetika. That leaves BP with a 40.01% share. The company still targets 2027 for completing construction, aiming for annual output of roughly 500 gigawatt hours.
The sector is now questioning just how much longer the buyback rush can continue if oil prices remain weak. TotalEnergies plans to cut its first-quarter share repurchases in half, bringing them down to $750 million. “That way we can adjust upward if market conditions favour it,” CEO Patrick Pouyanne said. Both BP and Equinor have made steeper cuts, he pointed out. Reuters
Dividend-focused investors have their eyes on the timeline. According to Hargreaves Lansdown, BP’s fourth-quarter dividend comes in at 8.32 cents per share, with the ex-dividend date set for Feb. 19. Anyone buying on or after that day misses out on the payout, which lands March 27.
The road to higher cash returns might get bumpy. A further drop in crude prices or softer refining margins would squeeze BP’s free cash flow, dragging out the schedule for buyback resumptions. That scenario could make the shares more vulnerable if there’s any misstep on debt reduction or asset sales.
BP’s first-quarter numbers are in focus next, with traders eyeing updates on cash flow, debt reduction and possible hints on payouts to shareholders. MarketScreener has the company’s earnings down for April 28.
