LONDON, June 27, 2026, 15:05 BST
- BP lost 2.38% to close at 469.40p Friday. The FTSE 100 dropped 0.21%.
- The stock dropped 6.8% this week. The FTSE 100 added 1.4%.
- BP’s shares fell 11.45p on Friday, 1.9 times the 6.18p sterling dividend the company paid out that day.
- Brent closed at $71.99, off 4.34%, as more tankers passed through the Strait of Hormuz.
BP PLC (LON:BP) did not trade in London on Saturday. The London Stock Exchange only opens for regular trading from 0800 to 1630 BST, Monday to Friday.
BP finished Friday at 469.40p, losing 11.45p, or 2.38%. Volume was 56.04 million shares, LSEG data via Investors Chronicle said. The FTSE 100 settled at 10,508.02, off 0.21%.
BP shares dropped 6.8% in a week, falling from 503.80p on June 19 to 469.40p on June 26. The FTSE 100 gained 1.4% in that time, moving up from 10,363.27 to 10,508.02.
Friday’s dividend date didn’t do much to help. BP’s most recent sterling dividend was 6.18p a share, landing June 26, according to AJ Bell. On the day, shares dropped by an amount 1.9 times that dividend payment. For the week, shares lost 5.6 times the payout.
Why it matters: BP has turned into a clearer cash return story after it stopped buybacks in February to focus on paying down debt. Now, with no buyback support, the dividend yield has to pick up the slack when oil prices drop and investors cut short-term cash flow estimates. Reuters said in February that BP paused its $750 million quarterly buyback and put the money toward lowering debt, with a net debt target between $14 billion and $18 billion by 2027.
Oil fell sharply Friday. Brent crude futures finished at $71.99 a barrel, down $3.27, or 4.34%. U.S. West Texas Intermediate settled at $69.23, down 3.74%. Supplies looked steadier as shipping through the Strait of Hormuz picked up again. “There is a growing sense that oil is going to keep moving through the Strait of Hormuz,” Phil Flynn, senior analyst with Price Futures Group, told Reuters. PVM’s Tamas Varga said the “predominant view” now is near oversupply. Reuters
London energy shares tracked the drop. According to a Reuters market piece on LSE.co.uk, energy stocks dragged the FTSE 100 on Friday, with Shell Plc (LON:SHEL) and BP falling as crude slipped and Hormuz shipping restarted.
BP’s debt story could still get tugged by the oil price curve this week. Barclays PLC (LON:BARC) on Friday lowered its Brent price forecasts, now seeing $96 a barrel in 2026 and $85 in 2027, down from $100 and $88, after Hormuz shipping picked up. UBS also trimmed its Brent estimates for end-September and end-December to $85 each, from $105 and $95.
BP’s latest update looks different from its first-quarter results. Underlying replacement-cost profit in the first quarter more than doubled to $3.2 billion, helped by oil trading tied to the Iran war. Net debt was $25.3 billion at quarter’s end. “We’re controlling what we can control,” Chief Executive Meg O’Neill told Reuters at the time, pointing to efforts to lift production outside impacted areas. Reuters
BP (BP.L) still has backing from analysts. Data from Investors Chronicle show a median price target of 618.06p from 20 analysts as of June 25, suggesting shares could climb 31.7% from 469.40p. Ratings break down to four buys, nine outperforms, 10 holds and two sells.
BP heads into next week at its lowest close for the June 1-June 26 stretch. The company reports earnings on Aug. 4. That leaves a five-week window for investors to see if a weaker Brent price, the dividend, and no buyback are enough to keep the shares steady.
