Brokers weigh in on the Beach Energy (ASX:BPT) share price plunge

Beach Energy Ltd (ASX: BPT) shares fell off a cliff on Friday after the company announced poor production figures and a downgrade in oil reserves in its third-quarter results. Its shares are down almost 24% since Thursday to $1.285 and are not far off their March 2020 lows of $1.150. 

With oil prices remaining relatively steady at US$63 per barrel and a rebound in the global economy as vaccination programs are underway, could there be value in the heavily discounted Beach Energy share price? 

Brokers weigh in on the Beach Energy share price 

Citi: slight upside but nothing exciting 

Beach Energy’s underperformance was led by its West Flank operations says Citi. This resulted in a downgrade to its 2P reserves for the project…