BP's Reported Net Debt Could Go Below Zero in H1 2027, RBC Says

11:39 AM EST, 11/02/2026 (MT Newswires) -- BP's (BP) debt is quickly declining amid strong operational performance and a positive macro environment, with reported net debt potentially going below zero in H1 2027, RBC said in a Friday note. The company reported Q3 underlying replacement cost profit of $3.26 per diluted American depositary share, up from $0.85 a year earlier, as revenue rose to $69.88 billion from $49.25 billion. BP is positioned to cut total liabilities substantially this year, RBC said, estimating a $12 billion reduction in net debt into the yearend. The company, however, would need to clarify its target debt level to resume share buybacks, the brokerage noted. RBC maintained its outperform rating on BP, and raised its price target to 720 British pounds ($966.01) from 700 pounds. Price: 48.34, Change: -2.05, Percent Change: -4.07