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BP expects Q2 production to top estimates, but lower oil prices may drag results by up to $800M despite stronger refining margins.
U.S.-listed shares of BP (BP) rose Friday after the energy giant predicted increased oil production and trading revenue in the current quarter, helping to offset lower fuel prices.
BP PLC (LSE:BP.) shares rose 2% in afternoon trading after the energy group indicated that its second-quarter numbers and outlook were less bleak than many had feared, despite continued underperformance.
BP PLC (LSE:BP.) guided to higher upstream output and stronger refining margins in the second quarter trading update, offset by lower prices received for oil and gas.
BP's second-quarter results will be hit by lower prices it received for its gas and oil, it said in a quarterly trading update on Friday, ahead of full results due August 5.
BP is set to sell its Dutch retail and EV charging business to Catom, advancing its $20B divestment plan and strategic shift.
Ultra-high-yield dividend stocks are a favorite among investors for good reason.
BP (BP) closed the most recent trading day at $30.25, moving 2.2% from the previous trading session.
BP's $8 billion Castrol sale draws interest from CD&R, a firm linked to its chairman, adding intrigue to a high-stakes divestiture.
BP's 13.8% stock gain, 6.14% dividend yield and robust free cash flow outlook set it apart from energy sector peers.
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