“This Stock Could Be Like Buying Amazon in 1997” Enter Your Email Address Simply click below to discover how you can take advantage of this. Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. At 240p, are BP shares bargains to buy right now? I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Rupert Hargreaves has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. BP (LSE: BP) shares look cheap after recent declines, compared to their trading history. What’s more, following the recent performance of the price of oil, I think the firm is now in a strong position to stage a recovery in the years ahead. And that’s why I’m looking at buying the company for my portfolio. The price of oil has recovered steadily over the past few months. A barrel of Brent crude oil is now changing hands at around $43, more than double its March low. I believe if the price of the black gold remains around this level, BP’s profits could jump next year. That could lead to a surge of positive investor sentiment, potentially pushing up the stock price. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…BP shares fallingIt’s easy to understand why investors have been selling BP shares this year. The price of oil plunged in March, and it’s been slow to recover. At the same time, the transition away from dirty hydrocarbon fuels has accelerated.While the world is still consuming around 100m barrels of oil a day, the world is changing rapidly. Many investors, including this one, can see renewable energy is the future. Companies like BP that don’t recognise this, risk being left behind. Changing company The good news is, BP is changing. The company has promised to invest more in renewable energy. It aims to boost its “low-carbon investment” to $5bn annually by 2030. Management is targeting 50GW of renewable generation by this date. In 2019, the group’s renewables production was just 2.5GW. The company’s existing oil and gas projects should provide the capital required to hit this target. As noted above, the price of oil has risen significantly over the past few months. This helped the business eke out a tiny profit for the third quarter of the year — a substantial improvement on the multi-billion dollar loss reported for the first half.The organisation is planning additional cost cuts over the next few months to reduce its costs of production further. It’s currently around $42 per barrel. That suggests to me the company is only just profitable at current levels, which is positive for BP shares, in my view. Discount However, despite the group’s stronger financial position and renewable plans, BP shares are trading at a 30% discount to their March low. That’s why I’ve decided to take a closer look at the stock. I think this is unwarranted. The company was in a much more uncertain position at the beginning of the year. For example, no one knew how long the coronavirus pandemic would last. Now the world seems to be looking forward to getting back to normal and a vaccine should be available in the first half of 2021. At the same time, oil demand hasn’t fallen as much as expected, and BP has been able to offset losses with cost-cutting. As such, I think BP shares look undervalued at 240p. The firm has made tremendous progress over the past six months, and I’m excited about its future renewable energy plans. That’s why I’m considering adding the stock to my portfolio today. Our 6 ‘Best Buys Now’ Shares Rupert Hargreaves | Monday, 16th November, 2020 | More on: BP See all posts by Rupert Hargreaves Image source: Getty Images I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.