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BP p.l.c. (NYSE:BP) is scheduled to announce Q3 earnings outcomes on Tuesday, October thirty first, earlier than market open. The consensus EPS estimate is $1.34 and the consensus income estimate is $56.66 billion. Over the past 2 years, BP has crushed EPS estimates 63% of the time and has crushed income estimates 63% of the time. Over the past 3 months, EPS estimates have seen 3 upward revisions and a couple of downward. Income estimates have seen 1 upward revision and 1 downward. The corporate on August 1 reported Q2 non-GAAP EPADS of $0.89, lacking estimates by 27 cents. Income of $48.54 billion was down 28.5% from final yr and was in need of expectations by $6.25 billion. BP has a Quant ranking of “HOLD”, with a 3.43 ranking rating. BP has an business rating of 10 out of 17 amongst built-in oil & fuel shares, as per SA’s Quant rating. Wall Avenue and Searching for Alpha authors charge the BP inventory a “BUY”. BP inventory rose 33.3% in 2022, whereas the benchmark S&P 500 Index slipped practically 20% for the yr. Inventory is up 16.3% thus far this yr as of Friday’s shut. The S&P 500 Power Sector Index is down 3.53% YTD.
Current commentary on BP
“BP gives a stable yield of round 4.5% and trades at an interesting low cost to the remainder of the power sector. The corporate is diversifying its operations and investing in low-carbon power options, together with carbon seize and storage tasks. Investing in BP comes with publicity to commodity worth volatility, however the firm is actively positioning itself for a way forward for power diversification,” writes SA contributor Wealth Analytics in an October 18 report.
“Regardless of all of the optimism round BP, because the Oil & Fuel sector stays extremely engaging, the inventory stays as one of many worst selections inside the group of large-cap Built-in Oil & Fuel gamers. Its low profitability and excessive leverage places the corporate at a big drawback to friends like Chevron, Exxon Mobil, and TotalEnergies. On the similar time, I stay sceptical of the administration’s potential to outsmart the capital allocation selections of its predominant friends which is essential for top and sustainable long-term shareholder returns,” writes SA contributor Vladimir Dimitrov in an October 18 report.
