BP Plc: Rising From The Ashes At A Snail's Pace

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About: BP p.l.c. (BP)
by: Fun Trading
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Summary

The London-based BP Plc released its third-quarter results on October 27, 2020. The earnings beat analysts' expectations due mostly to higher fuel sales and no substantial exploration write-offs.

Upstream: Production for the quarter was 2,243K Boepd (not including Rosneft production of 1,078K Boepd), down 12.6% sequentially.

BP weakness should be considered as a good opportunity long term.

Courtesy: BBC.com

Investment Thesis

The London-based BP p.l.c. (NYSE:BP) released its third-quarter results on October 27, 2020. The earnings beat analysts' expectations due mostly to higher fuel sales and no substantial exploration write-offs.