BP Warns of Lower Oil, Gas Output in Q4 Update
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 14 2025
0mins
Should l Buy BP?
Source: Benzinga
BP's Fourth-Quarter Guidance: BP anticipates a decline in upstream production, with lower oil and gas output, and expects unfavorable realizations impacting its oil production segment by $0.2 to $0.4 billion due to price lags. The company also projects reduced refining margins and weaker results in the customers & products segment.
Market Reaction: BP shares fell 1.83% to $30.65 premarket following the guidance update, while Brent crude prices averaged $74.73 per barrel in Q4, down from $80.34 in Q3.
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Analyst Views on BP
Wall Street analysts forecast BP stock price to rise
11 Analyst Rating
5 Buy
5 Hold
1 Sell
Moderate Buy
Current: 37.190
Low
6.38
Averages
84.26
High
503.69
Current: 37.190
Low
6.38
Averages
84.26
High
503.69
About BP
BP p.l.c. is a United Kingdom-based integrated energy company. The Company's segments include Gas & low carbon energy, Oil production & operations, Customers & products, and Other businesses & corporate. Its gas business includes regions with upstream activities that produce natural gas, integrated gas and power, and gas trading. Its low carbon business includes solar, offshore and onshore wind, hydrogen and carbon capture and storage and power trading. Oil production & operations segment comprises regions with upstream activities that predominantly produce crude oil, including bpx energy. Customers & products segment comprises its customer-focused businesses, which include convenience and retail fuels, electric vehicle charging, as well as Castrol, aviation and business to business and midstream. It also includes its products businesses, refining and oil trading, as well as its bioenergy businesses. Other businesses & corporate segment comprises technology and bp ventures.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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