Group 1: Core Agreement and Collaboration - BP has signed a global frame agreement with the Subsea Integration Alliance, which includes SLB's OneSubsea and Subsea7, to enhance subsea project execution through collaboration and innovative commercial models [1][2] - The partnership aims to improve project outcomes and facilitate project delivery by leveraging cross-domain teams and expertise throughout the lifecycle of each project [1][2] Group 2: Contract Details - BP awarded a multimillion-dollar engineering, procurement, construction, and installation (EPCI) contract to OneSubsea and Subsea7 for subsea pipelines and production systems in the UK North Sea [2] - Subsea7 expressed pride in its ongoing relationship with BP and emphasized the importance of early involvement in field development to provide a holistic approach to project planning and delivery [2][3] Group 3: Enhanced Capabilities - OneSubsea highlighted that the new agreement strengthens its long-standing relationship with BP, allowing for deeper collaboration from the initial field development phase to the extension of mature asset life [3] - The collaboration is expected to enhance OneSubsea's capabilities in field delivery and enable the deployment of tailored solutions for subsea projects [3]

Core Viewpoint - BP's stock has underperformed compared to the broader market and its industry, raising questions about its future performance [1] Earnings Estimate Revisions - BP is expected to report earnings of $0.79 per share for the current quarter, reflecting a year-over-year decline of -31.3% with a recent estimate change of -7.2% [2] - The consensus earnings estimate for the current fiscal year is $3.73, indicating a -22% change from the previous year, with a recent adjustment of -3% [3] - For the next fiscal year, the consensus estimate is $4.29, suggesting a +15% increase from the prior year, although it has changed by -5.1% recently [3] - BP is rated Zacks Rank 5 (Strong Sell) due to significant changes in earnings estimates and other related factors [3] Projected Revenue Growth - The consensus sales estimate for the current quarter is $63.56 billion, indicating a year-over-year increase of +17.7% [4] - For the current fiscal year, the revenue estimate is $224.55 billion, reflecting a +5.4% change, while the next fiscal year's estimate is $254.05 billion, indicating a +13.1% change [4] - BP reported revenues of $48.25 billion in the last quarter, a -2.5% year-over-year change, with an EPS of $1 compared to $0.89 a year ago [4] Valuation - BP is graded A in the Zacks Value Style Score, indicating it is trading at a discount compared to its peers [7] - Valuation multiples such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF) are essential for assessing whether BP's stock is fairly valued [6] Conclusion - BP's Zacks Rank 5 suggests potential underperformance relative to the broader market in the near term [8]

BP plc (BP) is set to report third-quarter 2024 earnings on Oct. 29.Let us delve into the factors that are anticipated to have affected this integrated energy major’s quarterly performance. However, before that, it would be worth reviewing BP’s performance in the previous quarter.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Highlights of Q2 EarningsIn the last reported quarter, the company’s earnings of $1 per American Depositary Share on a replacement-cost basis (excluding non-ope ...

On October 7, Reuters reported that BP (NYSE: BP ) ( OTCPK:BPAQF ) management has apparently abandoned its previous target to cut production by 25% vs 2019 through the end of the decade. Citing unnamed sources, the report noted that Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation ...

BP plc (BP) , the British oil and gas giant, continues to scale down the expansion of its renewables business, bringing its focus back to fossil fuels. According to sources familiar with the matter, the company wants to sell off a minority stake in its offshore wind business. Per Reuters, BP has appointed Bank of America to search for partners to invest in its offshore wind business. Renewable projects like offshore wind farms generally require huge capital investments, and BP plans to reduce its share of t ...

Core Viewpoint - BP plc has reported a decline in third-quarter profits due to lower refining margins and sluggish oil demand, indicating a stagnation in crude demand that has negatively impacted its financial performance [1][2]. Group 1: Financial Performance - BP's refining margins are projected to decrease by $400-$600 million compared to the previous quarter, with weaker oil trading performance anticipated for the September quarter [2]. - The oil production and operations segment may incur a financial impact of $100-$300 million due to price lags, particularly in the UAE and the Gulf of Mexico [3]. - The company expects exploration write-offs of $200-$300 million to adversely affect its quarterly results [4]. - BP's net debt is likely to have increased in the third quarter due to weaker refining margins, with $1 billion in divestment proceeds delayed to the fourth quarter [6]. Group 2: Market Conditions - The price of Brent crude has significantly dropped in the third quarter, attributed partly to a slump in the Chinese economy, which is the largest importer of crude globally [5]. - Recent geopolitical events in the Middle East have caused a spike in oil prices, potentially leading to supply-chain bottlenecks [5]. Group 3: Strategic Decisions - To restore investor confidence, BP has shifted its focus back to oil and gas, abandoning its ambitious emission reduction goals and scrapping its 2030 production target to reduce oil and gas output by 40% [7]. Group 4: Industry Context - A slowdown in global economic activities is expected to have impacted all major players in the energy sector during the third quarter, as evidenced by Shell's 30% sequential drop in profit margin in the refining segment [4].

BP (BP) closed at $32.11 in the latest trading session, marking a -0.71% move from the prior day. This move lagged the S&P 500's daily gain of 0.61%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%. Coming into today, shares of the oil and gas company had gained 2.41% in the past month. In that same time, the Oils-Energy sector lost 2.26%, while the S&P 500 gained 5.36%. The upcoming earnings release of BP will be of great interest to investors. On that day, BP is projected ...

Bull market concept with stock chart getty If you're reading this, I assume you are already bullish on oil. Or at least intrigued by the upside possibility. And why not? There are three reasons crude may continue to crescendo. First, we have the Middle East situation… 'nuff said. Second, it is increasingly looking like the Federal Reserve is cutting rates sans the usual impending recession. Rather than a hard or soft landing, it looks like we will see "no landing" at all in which the economy continues to gr ...

earnify™ aims to simplify and reward fueling and shopping by integrating an intuitive loyalty program and a streamlined user experience. Exclusive introductory offer includes double points for the first 90 days and 250 welcome points after registration. CHICAGO, Oct. 7, 2024 /PRNewswire/ -- bp (NYSE: BP) announces the launch of earnify™, a cutting-edge app designed to revolutionize the fueling and convenience store experience for consumers. Based on extensive consumer research, earnify™ goes beyond simply r ...

I am focused on growth and dividend income. My personal strategy revolves around setting myself up for an easy retirement by creating a portfolio which focuses on compounding dividend income and growth. Dividends are an intricate part of my strategy as I have structured my portfolio to have monthly dividend income which grows through dividend reinvestment and yearly increases. Feel free to reach out to me on Seeking Alpha Analyst's Disclosure: I/we have a beneficial long position in the shares of F, BP, CTO ...