BP Boosts Share Buybacks as Earnings Exceed Estimates

BP (NYSE: BP) is accelerating share buybacks as it looks to return more cash to shareholders after posting Q4 and full-year 2023 earnings above expectations.   BP reported on Tuesday an underlying replacement cost profit – the closest metric to net profit –of $3.0 billion for the fourth quarter, compared with $3.3 billion for the previous quarter. The earnings beat analyst estimates of $2.76 billion. Full-year earnings of $13.83 billion were half the record-high level of $27.65 billion earnings for 2022, when Big Oil…