What happened to BP stock in 2010? (2024)

What happened to BP stock in 2010?

BP's stock fell by 51% in 40 days on the New York Stock Exchange, going from $60.57 on 20 April 2010, to $29.20 on 9 June, its lowest level since August 1996. On 25 June, BP's market value reached a 1-year low. The company's total value lost since 20 April was $105 billion.

What happened to BP in 2010?

On April 20, 2010, the oil drilling rig Deepwater Horizon, operating in the Macondo Prospect in the Gulf of Mexico, exploded and sank resulting in the death of 11 workers on the Deepwater Horizon and the largest spill of oil in the history of marine oil drilling operations.

How much was BP worth in 2010?

BP was worth more than $180 billion at the time of the Gulf oil spill and is still one of the largest companies in the world.

Why did BP share price drop?

BP (BP.) shares fell 5% in London on Tuesday morning after reporting a fall in profits for the third quarter. This is the first set of results since the abrupt departure of chief executive Bernard Looney on September 13.

How much did the 2010 oil spill cost BP?

NEW ORLEANS (AP) — Oil giant BP PLC has put a final price tag on what its catastrophic Gulf of Mexico oil spill cost the company, and it's a hefty sum: $61.6 billion. The company issued the estimate Thursday, the first time it has put a total cost on the catastrophe.

Why did BP fail?

In addition to the blow out preventer's main sealing mechanism, the annular being damaged, there is evidence that one of the two control units to the blow out preventer also wasn't working properly, that there was a hydraulic fluid leak and a weak battery; all of which BP and others knew about.

What was BP accused of?

In November 2012 BP reached an agreement with the DOJ to plead guilty to 14 criminal charges, among them 11 counts of felony manslaughter, and violations of the Clean Water and Migratory Bird Treaty acts.

When did BP stock split?

BP split its shares in 1999. Prior to the 2-for-1 stock split, BP Amoco ADSs were trading at prices significantly higher than those of the company's principal competitors.

What is the highest BP stock has ever been?

Historical daily share price chart and data for BP since 1977 adjusted for splits and dividends. The latest closing stock price for BP as of April 12, 2024 is 39.44. The all-time high BP stock closing price was 39.82 on October 17, 2023.

How much did BP stock drop after oil spill?

BP's stock fell by 51% in 40 days on the New York Stock Exchange, going from $60.57 on 20 April 2010, to $29.20 on 9 June, its lowest level since August 1996.

Who owns the most BP stock?

Largest shareholders include State Street Corp, Fisher Asset Management, LLC, Arrowstreet Capital, Limited Partnership, Acadian Asset Management Llc, Morgan Stanley, Dimensional Fund Advisors Lp, BlackRock Inc., Wellington Management Group Llp, Boston Partners, and Goldman Sachs Group Inc .

Is BP a good investment right now?

BP p.l.c.'s analyst rating consensus is a Moderate Buy. This is based on the ratings of 11 Wall Streets Analysts.

Is BP still a good investment?

BP shares look good value trading at a forward valuation of just 6.91 times earnings, while 2023's 4.79% yield is forecast to hit 5% in 2024. It still carries more than $20bn of net debt, and markets forecast that could hit $27.8bn in 2024.

Who cleaned up the BP oil spill of 2010?

2010 through 2015 – NOAA's response to the spill, led by our Office of Response and Restoration, started within hours of the explosion. It continued for years, through the well capping, cleanup, and assessment.

Is BP still paying for the oil spill?

Under the final consent decree, BP will pay the trustees up to $8.8 billion, the largest recovery of damages ever for injuries to natural resources, to restore the Gulf. The settlement includes: $1 billion already allocated during early restoration which began in 2011.

Did BP ever pay for the oil spill?

BP paid around $63.4 billion by the end of September to cover clean-up costs and legal fees linked to the largest environmental disaster in U.S. history where 11 rig workers were killed.

What is wrong with BP stock?

BP stock has increased only 1% year-to-date, compared to a 19% growth in the S&P index. BP reported weaker-than-expected profits of $3.3 billion (down 60% year-over-year) for Q3 after a large drop in energy prices from a year ago.

Does BP have a bad reputation?

BP, also known as British Petroleum, has a bad reputation due to its history of environmental and safety incidents.

What did BP do wrong?

They found faulty wiring in two places, a dead battery and a bent pipe in the hulking device. And that, they said, led to the dumping of 172m gallons of oil into the Gulf of Mexico and the nation's worst offshore oil disaster. Investigators have long known that the device failed.

Did anyone from BP go to jail for Deepwater Horizon?

But none of BP's onshore engineers or top executives faced criminal charges. And the charges against four BP employees unraveled before skeptical jurors and judges, resulting in acquittals or plea bargains involving lesser crimes and no prison time. Donald Joseph Vidrine was born in Ville Platte, La., on Oct. 17, 1947.

Did anyone go to jail after the BP oil spill?

While a rig supervisor was sentenced to ten months probation, nobody served actual jail time for the Deepwater Horizon disaster.

How many times a year does BP pay a dividend?

bp expects to announce dividends four times a year. When the operating results are announced for each quarter, the bp directors decide the level of quarterly dividends to be paid to shareholders.

Who did BP buy out?

BP has completed its acquisition of Travel Centers of America. BP Products North America Inc. has closed a blockbuster deal that extends its convenience store footprint.

What company did BP buyout?

In October 2022, BP announced that it would be acquiring Archaea Energy Inc., a renewable natural gas producer, for $4.1 billion. In December 2022, it was announced BP had completed the acquisition of Archaea Energy Inc. for $3.3 billion.

What was the original name of BP?

BP was initially registered on April 14, 1909, as the Anglo-Persian Oil Company, Ltd. It was renamed the Anglo-Iranian Oil Company, Ltd., in 1935 and changed its name to the British Petroleum Company Limited in 1954.