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Since 1988 it has more than doubled the S&P 500 with an average gain of +24.52% per year. These returns cover a period from January 1, 1988 through February 6, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return.

The Zacks Industry Rank assigns a rating to each of the 265 X Industries based on their average Zacks Rank. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The scores are based on the trading styles of Value, Growth, and Momentum. There’s also a VGM Score (‚V‘ for Value, ‚G‘ for Growth and ‚M‘ for Momentum), which combines the weighted average of the individual style scores into one score.

That compared with $8.5 billion in the previous quarter and marked a significant increase from a year earlier, when net profit came in at $3.3 billion. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system.

BP – BP Earnings Date, Estimates & Call Transcripts

Operating cash flow sat at $5.4 billion at the end of the second quarter, which includes the annual payment of around $1.2 billion the company makes for the Gulf of Mexico oil spill in 2010. Global oil demand roared back in 2021, with gasoline and diesel use surging as consumers resumed travel and business activity recovered amid the coronavirus pandemic. Indeed, the International Energy Agency has noted mobility indicators remain robust even as Covid-19 is once again causing record infections. As a result, the company outlined plans to buy back $8.5 billion in shares in the first half of the year and said it expects to increase its dividend by 4% to $0.25 per share in the first quarter. Reported bumper annual earnings and announced it was „stepping up“ its distributions to shareholders.

The network totaled more than 9,000 stations around the middle of 2022 and expansion was ramping in order to meet the goal of 100,000 EV stations before 2050. A year out from the announcement of its strategic overhaul, announced in August 2020, the company highlighted that it had built a 21 gigawatt renewable energy pipeline and brought eight major oil and gas projects online. Britain’s Finance Minister Rishi Sunak has reportedly opened the door to a possible tax on oil and gas providers after repeatedly rejecting the policy citing fears that it could discourage investment. That compared with a profit of $4.1 billion in the fourth quarter and $2.6 billion for the first quarter of 2021. The oil and gas giant also announced a further $2.5 billion in share buybacks. To be sure, it is the burning of fossil fuels such as oil and gas thatis the chief driver of the climate emergency.

BP (BP)

And Chevron have posted third-quarter profits totaling nearly $50 billion. Don’t miss real-time alerts on your stocks – join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better. BP said fourth-quarter net debt was reduced to $21.4 billion, down from $30.6 billion compared to the year earlier. Natural gas price reached $9.59/mcf compared to $10.41 in Q3 FY22 and $7.38 in Q4 FY21. The Zacks Equity Research reports, or ZER for short, are our in-house, independently produced research reports.

Environmental campaign groups said BP’s third-quarter results underscored the need for a windfall tax, describing the results as „a slap in the face“ for the millions of Britons facing a deepening cost-of-living crisis. Speaking in June, U.N. Secretary-General Antonio Guterres called for an abandonment of fossil fuel finance, describing new funding for fossil fuel exploration as „delusional.“ Lawmakers called on the government to increase the level of support to help households pay rising energy bills and outline a nationwide plan to insulate homes.

About BP (NYSE:BP) Stock

It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. BP p.l.c. currently operates through 4 segments including Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. The company produces and trades in natural gas and oil liquids, offers biofuels, and operates wind and solar power generating facilities. The company also provides de-carbonization solutions and services, such as hydrogen and carbon capture and storage, as part of its green agenda.

Analysts polled by Refinitiv had expected second-quarter net profit of $2.06 billion. Beat second-quarter earnings expectations on Tuesday, while expanding its dividend and share buyback program. However, BP reported https://day-trading.info/ a headline loss for the quarter of $20.4 billion. This included non-cash pre-tax charges of $24 billion and $1.5 billion relating to the exit of its Rosneft stake in response to Moscow’s invasion of Ukraine.

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For the next earning release, we expect the company to report earnings of $1.55 per share, reflecting a year-over-year decrease of 19.27%. The chart below shows up to four years of a company’s earnings history. The dark blue line represents the company’s actual earnings per share. The light blue area represents the range of Wall Street analysts‘ earnings estimates for each quarter.

The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. BP’s earnings are expected to decrease from $6.36 per share to $6.20 per share in the next year, which is a -2.52% change. The Paris-based energy agency tempered how to buy and sell stocks on your own its optimism for the year ahead, however, warning that „lingering concerns“ persist over the strength of the demand recovery. Oil prices have climbed around 25% since the start of the year, supported by the rollout of Covid vaccines and an improving economic outlook. The Gulf of Mexico payments relate to the worst oil spill in U.S. history.

Only 29 people have added BP to their MarketBeat watchlist in the last 30 days. Only 160 people have searched for BP on MarketBeat in the last 30 days. Short interest in BP has recently increased by 2.68%, indicating that investor sentiment is decreasing. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

Advanced mobility is the future of transportation and includes technologies like EV, hybrid, and hydrogen fuel cells. To that end, the company is building 7 hydrogen production and storage hubs in key locations around the world. The company aims to produce blue and green hydrogen for the global transportation industry with production beginning in 2027. Blue hydrogen is hydrogen captured from the company’s natural gas deposits using a process that captures the waste carbon. BP, plc, once known as British Petroleum, is one of the world’s 7 oil & gas supermajors with operations spanning the globe. In terms of revenue, it ranks 4th on the list and the company is vertically integrated as well with operations in all segments of the oil and gas sector.

BP reports bumper first-quarter net profit, but posts massive loss on hit from Russia exit

On Friday, February 10th, Murray Auchincloss bought 67 shares of BP stock. The stock was bought at an average price of GBX 546 ($6.65) per share, with a total value of £365.82 ($445.85). A price cap on the most widely used consumer energy tariffs is expected to rise by more than 60% in October due to surging gas prices, taking average household yearly dual fuel bills to more than £3,200 ($3,845). BP reported its first full-year net loss in a decade in 2020 as the global health crisis took a heavy toll on its business operations, with Looney describing the 12-month period as the „toughest“ of his career. Since then, BP shares have increased by 2.6% and is now trading at $35.85.

The extraordinary scale of the oil and gas industry’s earnings has renewed criticism and sparked calls for higher taxes. BP increased its quarterly dividend by 10% and announced plans to buy back $2.75 billion of stock from shareholders. The ever popular one-page Snapshot reports are generated for virtually every single Zacks Ranked stock. It’s packed with all of the company’s key stats and salient decision making information. Including the Zacks Rank, Zacks Industry Rank, Style Scores, the Price, Consensus & Surprise chart, graphical estimate analysis and how a stocks stacks up to its peers. For their last quarter, BP reported earnings of $1.59 per share, missing the Zacks Consensus Estimate of $1.65 per share.

• The company’s stock added a further 2.3% in early trade on Tuesday.
• A surge in global gas markets through the final months of 2021, coupled with an oil price rally to seven-year highs, has seen the world’s largest fossil fuel giants rake in bumper revenues.
• As an investor, you want to buy stocks with the highest probability of success.
• The ever popular one-page Snapshot reports are generated for virtually every single Zacks Ranked stock.

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BP Company Calendar

Meanwhile net debt fell to $32.7 billion from $33.3 billion in the first quarter, marking the fifth consecutive quarter of decreased debt from the $51 billion seen in the first quarter of 2020. Shares of BP started Tuesday’s session up almost 15% year-to-date, having collapsed roughly 47% in 2020. The company’s stock added a further 2.3% in early trade on Tuesday. Oil prices are hovering above $100 a barrel after climbing to multi-year highs earlier this year.