![]() Zacks Rank: BP currently carries a Zacks Rank #1. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. That is not the case here, as you will see below.Įarnings ESP: The company’s Earnings ESP is 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $2.20 per share. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. Our proven model does not indicate an earnings beat for BP this time around. These are likely to have aided BP’s second-quarter performance. Natural gas price was also healthier, thereby favoring BP’s upstream businesses. Higher WTI oil and Brent crude prices were favorable for the exploration and production activities of BP. The significant crude price improvement was primarily supported by the invasion of Ukraine by Russia. The commodity prices were higher than last year’s prices of $61.72 per barrel, $65.17 per barrel and $71.38 per barrel, respectively. Energy Information Administration, the monthly WTI crude spot prices for this year’s April, May and June were $101.78 per barrel, $109.55 per barrel and $114.84 per barrel, respectively. The pricing scenario of West Texas Intermediate (WTI) crude was considerably higher in the second quarter of this year compared to the year-ago period. ![]() The consensus estimate for second-quarter revenues of $52.9 billion indicates a 40.7% increment from the year-ago reported figure.
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