BP plc (BP) reported third-quarter 2024 adjusted earnings of 83 cents per American Depositary Share on a replacement-cost basis, excluding non-operating items. The figure beat the Zacks Consensus Estimate of 78 cents. The bottom line, however, declined from the year-ago reported figure of $1.15. Total quarterly revenues of $48.3 billion lagged the Zacks Consensus Estimate of $62.5 billion and declined from $54 billion reported a year ago. Better-than-expected quarterly earnings can be primarily attributed t ...

KEY TAKEAWAYSBP on Tuesday posted third-quarter profit that fell well short of analysts' forecasts, dragged by weaker refining margins and oil trading.It reported net profit of $206 million, a massive decline from last year's $4.86 billion and well below the $1.96 billion consensus estimate of analysts polled by Visible Alpha.BP booked an underlying replacement-cost (RC) profit of $2.27 billion, down from the $3.29 billion it reported a year ago and $2.76 billion last quarter, although it topped analysts' e ...

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 6-K Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 for the period ended 29 October, 2024 BP p.l.c. (Translation of registrant's name into English) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. 1 ST JAMES'S SQUARE, LONDON, SW1Y 4PD, ENGLAND (Address of principal executive offices) Form 20-F |X| Form 40-F --------------- ------- ...

(Photo: Michael Paulsen)Houston Chronicle via Getty ImagThe pullback by energy giant BP from renewables and a renewed focus on high margin mainstay oil and gas plays has been relentless this year under its current CEO Murray Auchincloss who was appointed in January.In one of his first major moves as CEO, Auchincloss revised the company's plans to cut oil and gas production by 25% between 2019 and 2030, reversing a previous target of a 40% reduction over the same time-frame. And by June, fresh bidding for of ...

BP plc (BP) , a UK-based oil and gas giant, has inked a global frame agreement with the Subsea Integration Alliance, a partnership between SLB’s OneSubsea and Subsea7. As part of the agreement, the trio has decided to create a platform to effectively utilize their expertise in subsea projects across a range of future projects.Subsea7 and OneSubsea have highlighted that the partnership would enable them to bring cross-domain teams together to leverage their capabilities through the lifecycle of each project. ...

BP (BP) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this oil and gas company have returned -1.2%, compared to the Zacks S&P 500 composite's +1.5% change. During this period, the Zacks Oil and Gas - Integrated - International industry, which BP falls in, has lost 2.4%. The key question now is: What could be the stock's future direction?While med ...

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 ...

BP plc (BP) , the British energy giant, has cautioned that its third-quarter profits have taken a toll due to lower refining margins and sluggish oil demand. The energy giant also mentioned that the demand for crude appears to be stagnating, which might have weighed on its financials in the quarter. Weaker Refining Margins Lay Pressure on BP's Q3 Profits BP's refining margins are expected to drop $400-$600 million as compared to the prior quarter. Moreover, the company noted that oil trading performance is ...