Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.61% decrease. Currently, BP is carrying a Zacks Rank of #3 (Hold). We can additionally observe that BP currently boasts a PEG ratio of 1.96. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account t ...

When the news arrived that BP (LON: BP) was scaling down its renewable energy ambitions, it didn't hold much of a surprise. In fact, for market observers there was a certain level of inevitability about it. ForbesOccidental Shares Have Been Flat In 2024 But Warren Buffett Just Keeps Buying However, BP will also continue to maintain its investments in biofuels and low-carbon businesses that it hopes will generate short-term returns. Earlier this week, it agreed to full control of BP Bunge Bioenergia - its Br ...

Core Insights - BP is shifting its internal strategy by imposing a hiring freeze and pausing investments in new wind energy projects to enhance competitiveness and attract investors, reversing the aggressive investment approach in renewables initiated by former CEO Bernard Looney [5][6] - BP's current market valuation is the lowest among its peers, at less than half that of ExxonMobil and Chevron, indicating a need for strategic realignment [2] - The global energy transition is complex, and there is no single successful strategy, leading major companies to refocus on core oil and gas operations amid rising dissatisfaction from shareholders regarding renewable investments [4][6] Company-Specific Developments - BP's recent moves align with a broader trend among major oil and gas companies to allocate more capital to traditional energy sectors, as evidenced by the success of offshore wind projects in Germany [6] - ExxonMobil's consortium in the Stabroek block offshore Guyana has initiated the Hammerhead project, expected to produce 180,000 barrels of oil per day by 2029, showcasing a focus on expanding oil production [7] - ExxonMobil continues to invest significantly in its Low Carbon Solutions business, estimating $20 billion in low carbon investments through 2027, while focusing on projects that leverage its existing expertise [11] Industry Trends - The demand for oil and natural gas is rising globally, particularly in developing nations, with the Energy Institute reporting record levels of crude demand in 2023 and natural gas demand nearing pre-pandemic levels [10] - The principle that energy security is linked to national security remains unchanged, emphasizing the need for oil and gas companies to balance their operations amid ongoing global demand [9][12]

The new EV charging facility will provide increased capacity for electric vehicle charging across greater Houston, making EV ownership more convenient and helping to reduce driver hesitation to make the switch from gas and diesel vehicles to full electric vehicles. The new charging Gigahub is a critical addition to the City of Houston that is seeing a rapidly growing number of electric vehicles in the city. Arcadis has delivered more than 7,000 EV charging stations around the world Brooke Bonkoski, Presiden ...

Getty Images BP's net debt grew to $24 billion from $21 billion at the end of Q1 2023, and cash flow fell by roughly a third to just over $5 billion. The company mentioned that its results were affected by a $2.4 billion build in working capital, most of which should likely be reversed by the end of Q3 2024. It is worth mentioning that OPEC+ has decided to extend cutbacks on oil production through the first half of 2024 to support prices by warding off a surplus. Given the weaker global demand, and going by ...

Company Performance - BP is projected to report earnings of $1.22 per share, representing year-over-year growth of 37.08% [1] - The consensus estimate for BP's revenue is $63.26 billion, reflecting a 27.86% rise from the equivalent quarter last year [1] - For the full year, analysts expect earnings of $4.80 per share and revenue of $241.74 billion, marking changes of +0.42% and +13.48% respectively from last year [10] Valuation Metrics - BP has a PEG ratio of 1.83, compared to the industry average PEG ratio of 1.78 [3] - The company is currently trading at a Forward P/E ratio of 7.32, which is a premium compared to the industry average Forward P/E of 6.92 [7] Stock Performance - BP shares experienced a loss of 5.77% over the previous month, outperforming the Oils-Energy sector's loss of 5.99% but underperforming the S&P 500's gain of 3.34% [5] - In the latest trading session, BP ended at $35.39, reflecting a +0.8% adjustment from the previous day's close, outperforming the S&P 500's daily gain of 0.25% [9] Analyst Sentiment - Recent shifts in analyst projections for BP indicate changing near-term business trends, with positive estimate revisions reflecting analyst optimism about the company's business and profitability [6] - The Zacks Rank system currently rates BP as 3 (Hold), with a recent upward shift of 0.3% in the consensus EPS estimate over the past month [11] Industry Context - The Oil and Gas - Integrated - International industry has a Zacks Industry Rank of 82, placing it in the top 33% of all 250+ industries [12] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [8]

The Dividend And Share Buybacks BP Is More Than Just Oil Potential Downside Risks Earnings Estimates And The Balance Sheet Peak Oil Predictions Have All Failed EV And AI Energy Demand Could Be A Long Term Growth Driver In Summary Energy stocks have been in a correction for the past several weeks and I am starting to see some new buying opportunities. There are a number of reasons for this pullback including a drop in the price of oil, which could be driven by ample current supplies, but also because of some ...

"From the start, our focus has been opening plants safely and reliably, and demonstrating progress and growth," Archaea Energy CEO Starlee Sykes said. "Continuing to build momentum with the Lightning Renewables JV, the Fort Wayne plant is just the beginning of our incredible partnership with Republic Services to capture landfill emissions and provide customers with lower-emission, lower-carbon fuel." With the 2022 acquisition of Archaea, bp is now the largest RNG producer in the US, enhancing its ability to ...

The new policy "prohibits employees from directly or indirectly managing relatives or those with whom they're in an intimate relationship," according to the memo. 3 Bernard Looney was fired as CEO of BP last year after it was learned he carried on relationships with colleagues. AP The Post has sought comment from BP. 3 BP has required employees to disclose romantic relationships with co-workers, according to a report. AP Subscribe to our daily Business Report newsletter! Please provide a valid email address ...

Per the report, in an email memo to staff, BP outlined the new conflicts of interest policy, which prohibits employees from managing relatives or those with whom they are in an intimate relationship. This update, part of BP's code of conduct, highlights the lasting impact of Looney's departure on the company's operations and culture. In a statement to Reuters, BP confirmed the policy update, stating that the employees are now required to disclose intimate relationships at work, whether or not they feel they ...