BP: British Petroleum Share Price Outlook London Stock Exchange
Taking an almost immediate plummet from its opening price of 431.45 to 426.70, the stock has been on a hard fought road to recovery. This sentiment is a continual theme in the story of BP, which has fallen from grace since its year-high earlier this summer.
Brokers and analysts appear to be torn on their forecasts for investors, with the general consensus falling between hold and strong buy recommendations.
BP evaded further legal woes earlier this week when the US Supreme Court denied a group of Louisiana parishes from suing the energy company for damaging wildlife. More than £27bn has already been paid to aid in clean-up efforts following the 2010 Gulf of Mexico disaster.
The judge presiding over its civil suit said last month reiterated that BP was guilty of “gross negligence” and “willful misconduct” following the Deepwater Horizon event, meaning penalties of up to $17.6bn could be levied under the Clean Water Act.