Why I Don't Trust BP Enough to Buy It
The world is a complex place and, sometimes, you have to change direction if you want to succeed. Fair enough, but when it comes to a $100 billion market cap integrated global energy giant like BP (NYSE: BP), big directional changes shouldn't be a common occurrence. But, here we are again, with BP announcing a new business direction as it released fourth-quarter 2022 earnings. It's one of the big reasons I don't trust BP enough to buy it.
When BP released fourth-quarter 2022 earnings, which were nothing short of spectacular, it also released a corporate strategy update. The strategy update was a separate document, however, and was only referenced within the earnings update. It might have been the more interesting of the two documents, given that strong quarterly results were virtually locked in because of elevated energy prices.
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Source Fool.com
