Earnings Beat: Headquartered in London, BP plc (LON:BP) (NYSE:BP) reported fourth-quarter adjusted earnings of $1.04 per American Depositary Share (ADS) on a replacement cost basis. The bottom-line surpassed the Zacks Consensus Estimate of 78 cents.
Estimate Revision Trend & Surprise History: Investors should note that the Zacks Consensus Estimate of earnings for the quarter has been unchanged in the last seven days.
BP has an impressive earnings surprise history. The company managed to beat the Zacks Consensus Estimate in two of the last four quarters, the average positive earnings surprise being 11.8%.
Revenue: Revenues of $76,885 million came higher than $70,022 million in the year-ago comparable quarter. The top-line also beat the Zacks Consensus Estimate of $60,718 million.
Key Stats: Total production of 2.627 million barrels of oil equivalent per day (MMBoe/d) was higher than the year-earlier quarter level of 2.581 MMBoe/d.
The company sold liquids for $61.80 per barrel in the fourth quarter (versus $56.16 in the year-earlier quarter) and natural gas for $4.33 per thousand cubic feet (versus $3.23). Overall price realization increased to $42.98 per Boe from the year-ago level of $37.48 per Boe.
Zacks Rank: Currently, BP has a Zacks Rank #4 (Sell) but that could change following its fourth-quarter 2018 report which has just released. You can see the complete list of today’s Zacks #1 Rank stocks here.
Check back later for our full write up on this BP earnings report later!
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
BP p.l.c. (BP): Get Free Report
Original post
Zacks Investment Research