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BP heads into Q3 earnings with expectations of a sharp profit surge, supported by higher oil prices, an attractive valuation and a positive earnings outlook.
BP, Chevron and ExxonMobil are poised to beat Q3 earnings estimates as surging crude oil prices boost their prospects. See what makes these energy stocks stand out.
BP plc is scheduled to report its third-quarter results on Friday, Oct. 30, with Visible Alpha consensus pointing to another strong quarter. Visible Alpha consensus expects third-quarter total revenue of $69.36 billion, up 40.8% from the year-ago quarter. Despite the price tailwind, BP's upstream production is expected to average 2.21 million barrels of oil equivalent per day in Q3, down 6.5% YoY and largely unchanged from Q2.
The Zacks Earnings ESP is a great way to find potential earnings surprises. Why investors should take advantage now.
The latest trading day saw BP (BP) settling at $50.53, representing a -1.54% change from its previous close.
BP (NYSE:BP | BP Price Prediction) reports third-quarter results on Oct. 30, and the setup pulls in two directions. The company announced $3.0 billion to $4.5 billion in impairments, while refining margins and production guidance moved higher.
BP, Louisiana agree to resolve Deepwater Horizon disputes
Investors need to pay close attention to BP stock based on the movements in the options market lately.