BP Stock Is Falling After Earnings Beat. Here's Why.
Rival oil majors Exxon, Chevron, and Shell report later this week.
BP beats forecasts despite seeing 31% drop in profits, to lowest since COVID-19
BP's profits were hit by lower oil prices and a slump in its refining margins, caused by a slowdown in demand for products including jet fuel, diesel and gasoline
BP's weakest earnings in years: should investors buy the stock amid lower oil prices?
British oil major BP recently reported its weakest quarterly earnings since the pandemic-driven downturn of 2020, driven by slumping crude prices and slimmer refining margins. Despite a dip in earnings, the company's underlying replacement cost profit of $2.3 billion still surpassed analyst expectations, which stood at $2.1 billion.
BP profits fall as CEO says focus on 'value over volume' in oil and gas
BP PLC (LSE:BP.) reported lower profit and cash flow from a year ago and said its plan for the next decade is to grow its core oil & gas business “with a focus on value over volume” while being more selective about its clean-energy projects.
BP third quarter profit slumps to $2.3 bln as oil demand sags
BP on Tuesday reported higher-than-expected third quarter profits of $2.3 billion, their lowest in almost four years, weighed down by a drop in refining profits and weaker oil trading.
Renewable Energy Pullback By BP Continues To Gather Pace
The 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.
BP (BP) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, BP (BP) closed at $31.30, marking a -0.03% move from the previous day.
BP completes takeover of solar power JV Lightsource BP
British oil giant BP said on Thursday it has taken full ownership of Lightsource BP, after closing the previously announced buyout of the remaining equity in the solar developer.
BP Signs New Agreement to Drive Cutting-Edge Subsea Solutions
BP partners with Subsea Integration Alliance to create a platform for more effective utilization of their expertise in subsea projects across a range of future projects.
Is Trending Stock BP p.l.c. (BP) a Buy Now?
BP (BP) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
BP update may clear up green strategy posers
BP PLC (LSE:BP.) recently said that third-quarter production would be broadly flat compared to the previous three months, so next week's update will be about the impact of the recent drop in crude price.
Key Factors to Consider Before BP's Q3 Earnings Announcement
Lower commodity prices and production are likely to have hurt BP's bottom line in Q3.
