Where to buy BP stock as price drops amid $1.5B share buyback plan in this quarter

The BP stock has shed off about 4% amid claims that the BP Company is planning a $1.5 billion share buyback this quarter alone to enable it windfall profits to invest in renewables.

BP’s buyback strategy resonates with the wider Big Oil companies including the likes of Shell, Chevron, ExxonMobil, Total Energies, Equinor, and Eni that are set to for a supercharged share buyback estimated to amount to about $38 billion.

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To help stock investors interested in investing in BP stock, Invezz has created a brief article on what it is and where to buy it.

To find out more, please continue reading.

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What is BP stock?

BP stock is the stock of BP Plc and it trades in the US on the New York Stock exchange under the ticker NYSE: BP.

In a nutshell, BP Plc is a British multinational oil and gas company. It is headquartered in London, England and is ranked as one of the seven largest oil and gas companies in the world.

BBP is vertically integrated and operates in all areas of the gas and oil industry. It does exploration, extraction, refining, distribution, marketing, and power generation besides trading.

Should I buy BP stock today?

If you want to invest into the shares of one of the largest gas and oil companies in the world, then the BP stock could be a good choice.

Nonetheless, besides the current price dip, there is another impending challenge posed by the conflict between Russia and Ukraine, which if it broke into a full-blown war could impact the price of oil and gas prices and ultimately affect BP’s share prices.

BP stock price prediction

Analysts are keeping a keen eye on the events around the Russia-Ukraine dispute that is attracting the attention of the Western Countries. Currently, the price of the BP stock is expected to continue dropping as the conflict escalates.