에 대한 최신 뉴스 BP (NYSE:BP) 주식

BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2023, reserves stood at 6.8 billion barrels of oil equivalent, 55% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day.

Trading Ideas

AMZN

아마존이 프라임 회원들을 위한 새로운 주유 할인 혜택을 제공하고, 2025년에는 전기차(EV) 운전자를 위한 충전 비용 절감 혜택을 제공할 예정이다. 아마존닷컴(NASDAQ:AMZN)은 소비자들이 아마존 프라임 멤버십 프로그램에 가입하도록 유도하기 위해 또 다른 이유를 추가했다. 이는 아마존이 소매업체인 월마트(NYSE:WMT)와 구독자 유치 경쟁을 강화하는 가운데 이루어진 일이다.

아마존 vs 월마트: 유료 회원들에게 가스 및 EV 충전 할인 제공하여 가입자들 유치 경쟁

News

Movers

TSLA

BP(NYSE:BP)와 테슬라(NASDAQ:TSLA)의 주가는 목요일 서로 다른 방향으로 움직였다. 새로운 보고서에 따르면 BP의 전기 자동차 충전 사업부는 해당 위치의 직원을 포함하는테슬라 슈퍼차저 사이트 구매를 적극적으로 모색하고 있다. 중요한 점 (What To Know): 블룸버그에 따르면 BP는 최근 테슬라의 해고 이후 &#39;집중력 강화&#39;로 충전 네트워크를 확장하기 위해 &#39;공격적으로 부동산 인수를 모색&#39;하고 있다.

BP는 일론 머스크의 최근 수백 명의 직원 해고 이후 테슬라 슈퍼차징 스테이션 인수 모색

BP PLC

Beyond Protocol

BrandPilot AI Inc

iShares FinTech Active ETF

BRIGHTPATH BIOTHERAPEUTIC by BRIGHTPATH BIOTHERAPEUTICS CO LTD

Blackstone Private Credit Fund Ordinary Shares - Class I

BANCO COMML POR ORD NEW by Banco Comercial Portugues S.A.

Banco Comercial Portugues SA

BANCO COMERCAIL UNSP/ADR by Banco Comercial Portugues S.A.

BANPU PUBLIC CO LTD by Banpu Public Co., Ltd.

Banpu PCL

BISHOP CAPITAL CORP by Bishop Capital Corp.

Bishop Capital Corp (WY)

BEFOREPAY GROUP LTD by BEFOREPAY GROUP LTD.

Beforepay Group Ltd

BANK OF PHILIPPNE ISLANDS by Bank of the Philippine Islands

Bank of the Philippine Islands

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BPI ENERGY HOLDINGS INC by BPI Energy Holdings, Inc.

BPI Energy Holdings Inc

PIRAEUS FINL HLDGS SA by PIRAEUS FINL HLDGS S A

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PIRAEUS FNL HLD S/ADR by PIRAEUS FINL HLDGS S A

BP Castrol KK

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BADGER PAPER MILLS INC by Badger Paper Mills, Inc.

BASILEA PHARM AG AKT SHS by Basilea Pharmaceutica AG

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BLACKPOLL FLEET INTL INC by BlackPoll Fleet International, Inc.

BlackPoll Fleet International Inc

Popular Inc

Popular, Inc. - Popular Capital Trust II - 6.125% Cumulative Monthly Income Trust Preferred Securities

Popular Capital Trust II

Bpost SA de Droit Public

Bid Corp Ltd

Princeton Bancorp Inc

BROOKFIELD PTY SPLT PFD 2 by BROOKFIELD PPTY SPLIT CORP.

BP Prudhoe Bay Royalty Trust Common Stock

BP Prudhoe Bay Royalty Trust

Bio-Path Holdings Inc

PT BARITO PACIFIC TBK by Pt Barito Pacific Tbk

PT Barito Pacific Tbk

Biophytis SA SPONSORED ADR NEW 2024

Biophytis SA

BPER BANCA SPA UNSP/ADR by BPER BANCA S.P.A

BPER Banca SpA

Brookfield Property Partners L.P. - 6.25% Class A Cumulative Redeemable Preferred Units, Series 1

Brookfield Property Preferred LP

Brookfield Property Partners L.P. - 5.750% Class A Cumulative Redeemable Perpetual Preferred Units, Series 3

Brookfield Property Partners LP

Brookfield Property Partners L.P. - 6.375% Class A Cumulative Redeemable Perpetual Preferred Units, Series 2

Brookfield Property Partners L.P. - 6.50% Class A Cumulative Redeemable Perpetual Preferred Units

Boston Pizza Royalties Income Fund

WIIM

FANG

SHEL

Shares of energy and oil stocks are trading higher amid a rise in the price of oil, which gained on Russia-Ukraine tensions and a Norway oilfield shutdown.

Corteva Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTVA#NYSE">CTVA</a>) announced today a collaboration with bp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>, LSE: BP.L))) on the companies' shared intent to form a crop-based biofuel feedstock joint venture (JV).
The JV envisaged by Corteva and bp would produce and deliver crop-based biofuel feedstocks to help meet the anticipated growth in demand for 'sustainable aviation fuel' (SAF).
A number of countries around the world have, or are in the process of implementing, mandates or tax incentives to promote the decarbonization of the aviation sector. In the EU a SAF mandate begins in 2025 that will require fuel uplift at EU airports to contain at least 20% SAF by 2035 and 70% by 2050.
To help meet this demand, Corteva and bp have executed a non-binding memorandum of understanding, with the intent of forming a JV that would aim to progressively scale up volume, reaching delivery&nbsp;of one million metric tons per year of biofuel feedstocks for SAF production by the mid-2030s.
Corteva plans to contract with farmers in North and South America, and Europe, to grow proprietary Corteva mustard seed, sunflower and canola feedstocks well-suited for SAF production. These crops are integral to large scale agriculture around the world. The JV would aim to introduce new cropping systems to produce oil that meets EU RED III criteria, and qualifies for US Low Carbon Intensity policy incentives, while creating a new revenue stream for farmers.

Biotech

General

CTVA

Corteva Announces A Collaboration With bp On The Companies' Shared Intent To Form A Crop-Based Biofuel Feedstock Joint Venture; The JV Envisaged By Corteva And bp Would Produce And Deliver Crop-Based Biofuel Feedstocks To Help Meet The Anticipated Growth In Demand For 'Sustainable Aviation Fuel'

TotalEnergies SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) along with BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>), Equinor ASA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQNR#NYSE">EQNR</a>), and Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) pledged a $500 million joint <a target="_blank" href="https://totalenergies.com/news/press-releases/cop29-totalenergies-bp-equinor-and-shell-join-forces-help-increase-access" rel="noreferrer noopener">investment </a>to support UN Sustainable Development Goal 7 (UN SDG7).
The companies jointly decided to invest in projects addressing energy access challenges, focusing on underserved communities in Sub-Saharan Africa, South, and Southeast Asia.
The initiative will support solutions such as solar home systems, mini-grids, clean cooking technologies, and enabling innovations like e-mobility and energy storage.
The investment also seeks to generate co-benefits, including job creation and improved health outcomes.
Patrick Pouyanné, Chairman and CEO of TotalEnergies,&nbsp;said, &#8220;Furthermore, we are committed to investing 400 million dollars in Liquefied Petroleum Gas facilities to develop clean cooking solutions in Africa and India, which will help 100 million people access healthier, more sustainable and, more reliable energy.&#8221;
&#8221;With this new joint initiative with our peers, we are activating another lever to contribute to high-impact local projects to help achieve the United Nations Sustainable Development Goal 7 by 2030."
This month, TotalEnergies signed a 15-year agreement with Sinopec to supply 2 million tons of <a target="_blank" href="https://www.benzinga.com/markets/equities/24/11/41720697/totalenergies-bolsters-lng-presence-in-china-with-15-year-supply-deal-details" rel="noreferrer noopener">LNG annually, starting in 2028</a>.
Investors can gain exposure to the stock via&nbsp;First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIPX#NYSE">EIPX</a>) and&nbsp;Octane All-Cap Value Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCTA#NASDAQ">OCTA</a>).
Price Action: TTE shares are up 0.79% at $60.95 at the last check Friday.
Image via Pixabay
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</ul>

Equities

Large Cap

First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF

EIPX

EQNR

OCTA

TotalEnergies Joins BP, Equinor, And Shell In $500M Drive For Global Energy Access

Macro Economic Events

Global

Econ #s

Economics

Bp's Chief Economist Says By 2035 The World Will Need 80M-100M Barrels/Day Of Oil In A Net Zero Environment; Non-OPEC Supply Growth Will Exceed Demand Growth Over The Next Several Years

Financial giants have made a conspicuous bullish move on BP. Our analysis of options history for BP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) revealed 12 unusual trades.
Delving into the details, we found 41% of traders were bullish, while 41% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $662,350, and 4 were calls, valued at $348,840.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $25.0 to $45.0 for BP over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in BP's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to BP's substantial trades, within a strike price spectrum from $25.0 to $45.0 over the preceding 30 days.
<h3>BP 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1731079868_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$12.9</td>
<td>$12.85</td>
<td>$12.9</td>
<td>$42.00</td>
<td>$223.1K</td>
<td>1.2K</td>
<td>173</td>
</tr>
<tr>
<td>BP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$11.4</td>
<td>$11.35</td>
<td>$11.4</td>
<td>$40.00</td>
<td>$176.7K</td>
<td>1.2K</td>
<td>155</td>
</tr>
<tr>
<td>BP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$6.0</td>
<td>$5.65</td>
<td>$5.65</td>
<td>$25.00</td>
<td>$161.5K</td>
<td>961</td>
<td>286</td>
</tr>
<tr>
<td>BP</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$4.3</td>
<td>$4.2</td>
<td>$4.25</td>
<td>$25.00</td>
<td>$106.2K</td>
<td>3.8K</td>
<td>511</td>
</tr>
<tr>
<td>BP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$1.39</td>
<td>$1.38</td>
<td>$1.39</td>
<td>$30.00</td>
<td>$66.0K</td>
<td>6.5K</td>
<td>1.1K</td>
</tr>
</tbody>
</table>

<h3>About BP</h3>
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2023, reserves stood at 6.8 billion barrels of oil equivalent, 55% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day.
Having examined the options trading patterns of BP, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>BP's Current Market Status</h3>
<ul>
<li>Trading volume stands at 2,282,868, with BP's price down by -2.52%, positioned at $29.06.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 88 days.</li>
</ul>
<h3>Expert Opinions on BP</h3>
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $34.5.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on BP, which currently sits at a price target of $33. 
&#x2A; Reflecting concerns, an analyst from Scotiabank lowers its rating to Sector Perform with a new price target of $36.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for BP with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Options

Markets

BP Options Trading: A Deep Dive into Market Sentiment

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said Ceva (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CEVA#NYSE">CEVA</a>) is &#8220;way too high, and I think you <a href="https://www.benzinga.com/quote/CEVA">should take something off the table.&#8221;</a>
Ceva will announce results for the third quarter on Nov. 7, 2024, before the opening bell.
&#8220;I love space stuff, and that's why I keep recommending Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>),&#8221; Cramer said when asked about Intuitive Machines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>). If there's going to be something in space, it is going to be done by Elon Musk."
Intuitive Machines will release its financial results for the third quarter on Thursday, Nov. 14, before the market opens.
When asked about Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), &#8220;I want so badly for the company to do well, but I can't recommend the stock.&#8221;
The company is reportedly set to pause production of its F-150 Lightning from mid-November until the year&#8217;s end, citing weaker-than-anticipated demand for the electric pickup, Automotive News reported.
&#8220;They are in the oil service business, and oil is not a growth commodity. So, I'm going to say you can't own the stock here, as much as I really like them,&#8221; the &#8220;Mad Money&#8221; host said when asked about SLB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>).
The company, last week, disclosed that its OneSubsea joint venture won a contract from BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) for a subsea boosting system as part of the greenfield development of the Kaskida project in the deepwater U.S.
Cramer recommended taking something off the table, when asked about Vistra Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>).
Vistra will replace The AES Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>) in the Dow Jones Utility Average, effective prior to the open of trading on Friday, Nov. 8.
Price Action:
<ul>
<li>CEVA shares fell 0.2% to settle at $23.64 on Monday.</li>
<li>Intuitive Machines shares fell 6.5% to close at $7.58 on Monday.</li>
<li>Ford shares gained 1.4% to settle at $10.36 during the session.</li>
<li>SLB gained 1.4% to settle at $40.32 on Monday.</li>
<li>Vistra shares fell 3.2% to close at $115.74.</li>
</ul>
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</ul>

Long Ideas

Media

CEVA

LUNR

Jim Cramer Says He Can't Recommend This Major Automaker, Ceva Is 'Way Too High'

Analysts cut the price target on BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) following the company&#8217;s third quarter results reported on Tuesday.
BP&#8217;s revenue fell short at $47.25 billion, below the $52.56 billion consensus, with oil production down <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41598840/bp-stock-drops-as-q3-revenue-misses-mark-production-declines-debt-rises" rel="noreferrer noopener">6% year over year</a>.
For FY24, BP&nbsp;continues to expect&nbsp;both reported and underlying upstream production to be&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">slightly higher than the prior year</a>.&nbsp;
Meanwhile, the company continues to expect $25 billion&nbsp;of divestments and other proceeds from the second half of 2020 through 2025.
RBC Capital Markets analyst Biraj Borkhataria lowered the price target to 480p (from 525p) while reiterating the Sector Perform rating.
The analyst writes that BP faced significant challenges lately, and without an improving macroeconomic environment, they believe the investment case remains weak.
The company appears to have missed an opportunity in 2022-23, a peak period in the cycle, to significantly reduce its leverage, adds the analyst.
Borkhataria says that this oversight has left its distribution program less resilient compared to its peers.
The analyst observed a stronger focus on the balance sheet this quarter compared to previous periods, with net debt increasing from $33.3 billion to $35.3 billion (including leases).
Borkhataria expects this figure to rise to approximately $40 billion by the end of the year.
The analyst says that BP requires a reset of expectations ahead of its February 2025 Capital Markets Day (CMD).
Adjusting the &#8216;surplus&#8217; payout ratio seems prudent, and the analyst believes it would be wise to allocate more cash towards strengthening the balance sheet.
Given the lackluster returns in recent years, Borkhataria thinks that prioritizing de-leveraging over growth capital expenditures in the transition engines should be the focus.
The analyst&#8217;s revised EPS estimates reflect a decrease of 6% for 2024 and 10% for 2025, primarily due to lower refining earnings, partially balanced by increased contributions from gas and low-carbon initiatives.
Goldman Sachs analyst Michele Della Vigna reduced the price target to 560p from 580p while reaffirming the Buy rating. Also, the analyst reduced the <a href="https://www.benzinga.com/quote/BP/analyst-ratings">ADR price target to $44.0 from $46.0.</a>
The analyst anticipates lower oil and gas price realizations than expected, particularly for European gas, which may result in diminished earnings and cash flow generation.
Additionally, lower-than-expected recovery rates in mature offshore oil and gas fields could lead to higher decline rates than currently projected, ultimately resulting in lower production growth and cash flow than their current estimates, adds the analyst.
Vigna adjusted the estimates, resulting in EPS changes of approximately -2%, -7%, and -5% for 2024, 2025, and 2026, respectively, primarily due to lower refining margins and reduced oil trading profits.
Price Action: BP shares are down 0.66% at $29.17 at the last check Wednesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/24/10/41607065/schlumbergers-onesubsea-lands-key-contract-with-bp-to-power-deepwater-kaskida-project-details" target="_blank" rel="noreferrer noopener">Schlumberger&#8217;s OneSubsea Lands Key Contract With BP To Power Deepwater Kaskida Project: Details</a></li>
</ul>

Price Target

iShares Dow Jones US Oil Equipment & Services Index Fund

BP Faces Price Forecast Cuts As Analysts Flag Weak Earnings And Rising Debt Challenges

Wells Fargo analyst Roger Read maintains BP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) with a Equal-Weight and lowers the price target from $35 to $33.

Analyst Ratings

Wells Fargo Maintains Equal-Weight on BP, Lowers Price Target to $33

Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) shares are trading lower on Tuesday. The company disclosed that its OneSubsea joint venture won a contract from BP p.l.c. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) for a subsea boosting system as part of the greenfield development of the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41598382/slb-onesubsea-awarded-subsea-boosting-contract-for-bps-kaskida-project-in-gulf-of-mexico" rel="noreferrer noopener">Kaskida project in the deepwater U.S</a>.
This contract signifies an important achievement in the enduring collaboration between SLB OneSubsea and BP, as it is their inaugural engineering, procurement, and construction (EPC) agreement for a subsea boosting system.
The project involves a supplier-led high-pressure subsea pump solution, featuring an integrated power and controls umbilical, as well as the requisite topside equipment.
The OneSubsea subsea boosting system is a crucial technology for bp&#8217;s inaugural Paleogene field development.
It will provide the necessary artificial lift to optimize production by enhancing reserve recovery while minimizing energy consumption.
This month, SLB reported revenue growth of 10.2% year over year to $9.159 billion, missing the consensus of $9.25 billion. Adjusted EPS increased 14% to 89 cents,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41401700/schlumberger-q3-earnings-mixed-results-as-middle-east-shines-and-latin-america-falters" rel="noreferrer noopener">above the consensus of 88 cents</a>.
Investors can gain exposure to SLB via&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) and&nbsp;IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: SLB shares are down 2.38% at $40.41 at the last check Tuesday.
Photo via Shutterstock
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<li><a href="https://www.benzinga.com/news/earnings/24/10/41435424/these-analysts-slash-their-forecasts-on-schlumberger-following-q3-earnings" target="_blank" rel="noreferrer noopener">These Analysts Slash Their Forecasts On Schlumberger Following Q3 Earnings</a></li>
</ul>

Contracts

Schlumberger's OneSubsea Lands Key Contract With BP To Power Deepwater Kaskida Project: Details

BP shares are trading lower following a Q3 revenue miss.

BP PLC&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) shares are trading lower after the company reported&nbsp;<a target="_blank" href="https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/investors/bp-third-quarter-2024-results.pdf" rel="noreferrer noopener">third</a>-quarter&nbsp;results.
Sales and other operating revenues came in at&nbsp;$47.254 billion, missing the consensus of&nbsp;$52.557 billion.
Hydrocarbon production was 890 mboe/d (-6.0%&nbsp;Y/Y), with underlying production declining 4.0%&nbsp;Y/Y mainly due to base decline.
The Renewables pipeline stood at 46.8GW (bp net), including a 20.5GW bp net share from Lightsource bp's (LSbp's) pipeline in the quarter.&nbsp;
Adjusted EBITDA declined to&nbsp;$9.65 billion&nbsp;from&nbsp;$10.31 billion&nbsp;a year ago.&nbsp;Underlying RC profit per American Depositary Share (ADS) came in at&nbsp;$0.83,<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener"> beating the consensus of&nbsp;$0.76.&nbsp;</a>
Operating cash flow was&nbsp;$6.76 billion, compared to&nbsp;$8.75 billion&nbsp;in the prior-year quarter.&nbsp;
Capital expenditure was&nbsp;$4.54 billion&nbsp;versus&nbsp;$3.60 billion&nbsp;a year ago.&nbsp;Net debt rose to&nbsp;$24.27 billion&nbsp;from&nbsp;$22.32 billion&nbsp;a year ago.
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/10/41290931/bp-warns-of-weaker-refining-margins-higher-debt-details" rel="noreferrer noopener">BP Warns Of Weaker Refining Margins, Higher Debt: Details</a>
Chief executive officer Murray Auchincloss said, &#8220;We have made significant progress since we laid out our six priorities earlier this year to make bp simpler, more focused and higher value. In oil and gas, we see the potential to grow through the decade with a focus on value over volume.&#8221;
&#8221;We also have a deep belief in the opportunity afforded by the energy transition – we have established a number of leading positions and will continue high-grading our investments to ensure they compete with the rest of our business.&#8221;
Dividend: BP disclosed an interim dividend of 8.000 cents per ordinary share, payable on December 20, 2024. Holders of ADSs are expected to receive&nbsp;$0.48&nbsp;per ADS.
Repurchase: The company completed previously announced $1.75 billion&nbsp;in share buybacks during the quarter.
Furthermore, BP plans to conduct a $1.75 billion share buyback before its fourth-quarter earnings release and is committed to an additional $1.75 billion buyback for the fourth quarter of 2024.
Fourth-Quarter&nbsp;FY24&nbsp;Outlook: BP anticipates upstream production to be lower than the third quarter of 2024.
In its customer business, BP projects seasonally lower volumes sequentially in the fourth quarter, with fuel margins likely remaining sensitive to supply cost fluctuations.
In the products segment, BP expects refining margins to stay low in the fourth quarter, though they may remain sensitive to changes in product crack spreads.
FY24&nbsp;Guidance: BP&nbsp;continues to expect&nbsp;both reported and underlying upstream production to be&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">slightly higher than the prior year</a>.&nbsp;
It now anticipates divestments and other proceeds to be greater than $3 billion (vs. $2 billion &#8211; $3 billion earlier)&nbsp;for the year.
Meanwhile, BP continues to expect $25 billion&nbsp;of divestments and other proceeds from the second half of 2020 through 2025.
For 2024, BP expects capital expenditure of around&nbsp;$16 billion per annum.
In September, BP inked a deal under which&nbsp;Apollo Global Management managed funds will acquire a non-controlling stake in&nbsp;BP Pipelines TAP <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40876520/bp-sells-stake-in-gas-pipeline-to-apollo-raises-1b" rel="noreferrer noopener">Limited</a><a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40876520/bp-sells-stake-in-gas-pipeline-to-apollo-raises-1b" rel="noreferrer noopener"> for around&nbsp;$1&nbsp;billion</a>.
Investors can gain exposure to the stock via&nbsp;Donoghue Forlines Yield Enhanced Real Asset ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/DFRA#BATS">DFRA</a>)&nbsp;and&nbsp;First Trust Exchange-Traded Fund IV FT Energy Income Partners Strategy ETF (ARCA:&nbsp;EIPX).
Price Action: BP shares are down 2.93% at $30.14 premarket at the last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/10/41579189/bp-stock-drops-as-crude-oil-prices-fall-ahead-of-q3-earnings-report" target="_blank" rel="noreferrer noopener">BP Stock Drops As Crude Oil Prices Fall Ahead Of Q3 Earnings Report</a></li>
</ul>

Earnings

Guidance

Donoghue Forlines Yield Enhanced Real Asset ETF

DFRA

BP Stock Drops As Q3 Revenue Misses Mark, Production Declines & Debt Rises

Subsea boosting system to accelerate the full potential of deepwater project
SLB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) today announced the award of a contract by bp to its OneSubsea joint venture for a subsea boosting system in the greenfield development of the Kaskida project in the deepwater U.S. Gulf of Mexico.

SLB OneSubsea Awarded Subsea Boosting Contract For bp's Kaskida Project In Gulf Of Mexico

2024 guidance In addition to the guidance on page 2: &bull; bp continues to expect both reported and underlying upstream production&#x2A; to be slightly higher compared with 2023. Within this, bp continues to expect underlying production from oil production &amp; operations to be higher and production from gas &amp; low carbon energy to be lower. &bull; In its customers business, bp continues to expect growth from convenience, including a full year contribution from TravelCenters of America; a stronger contribution from Castrol underpinned by volume growth in focus markets; and continued margin growth from bp pulse driven by higher energy sold. In addition, bp continues to expect fuels margins to remain sensitive to the cost of supply. &bull; In products, bp continues to expect a lower level of industry refining margins relative to 2023, with realized margins impacted by narrower North American heavy crude oil differentials. bp continues to expect refinery turnaround activity to have a lower financial impact compared to 2023, reflecting the lower margin environment. Phasing of turnaround activity in 2024 is heavily weighted towards the second half, with the highest impact in the fourth quarter. &bull; bp now expects other businesses &amp; corporate underlying annual charge to be $0.3-0.4 billion for 2024. &bull; bp continues to expect the depreciation, depletion and amortization to be slightly higher than 2023. &bull; bp continues to expect the underlying ETR&#x2A; for 2024 to be around 40% but it is sensitive to a range of factors, including the volatility of the price environment and its impact on the geographical mix of the group&rsquo;s profits and losses. &bull; bp continues to expect capital expenditure&#x2A; for 2024 to be around $16 billion. &bull; bp now expects divestment and other proceeds to be greater than $3 billion in 2024. Having realized $19.2 billion of divestment and other proceeds since the second quarter of 2020, bp continues to expect to reach $25 billion of divestment and other proceeds between the second half of 2020 and 2025. &bull; During the fourth quarter, bp completed the transactions to acquire a further 50% of the issued ordinary shares of bp Bunge Bioenergia and 50.03% of the issued ordinary shares of Lightsource bp (see Note 10) and now owns 100% of the ordinary shares of both companies. Full earnings from both companies will be included in bp&rsquo;s results from the date the transactions complete and finance debt acquired is expected to be approximately $3.7 billion. &bull; bp continues to expect Gulf of Mexico settlement payments for the year to be around $1.2 billion pre-tax including $1.1 billion pre-tax paid during the second quarter

For Fiscal 2024, BP Continues To Expect Both Reported And Underlying Upstream Production To Be Slightly Higher Compared With 2023; Divestments And Other Proceeds Are Now Anticipated To Exceed $3 Billion For The Year

4Q 2024 guidance&nbsp;
Looking ahead, bp expects fourth quarter 2024 reported upstream&#x2A; production to be lower compared with the third-quarter 2024.
&bull; In its customers business, bp expects seasonally lower volumes compared to the third quarter and fuels margins to remain sensitive to movements in the cost of supply.
&bull; In products, bp expects realized refining margins to remain low in the fourth quarter, albeit to continue to remain sensitive to relative movements in product cracks

BP Expects Lower Q4 Upstream Production Compared To Q3; Expects Customer Business To See Seasonally Lower Volumes; Fuels Margins Remain Sensitive To Supply Costs

BP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) reported quarterly earnings of $0.83 per share which beat the analyst consensus estimate of $0.76 by 9.21 percent. This is a 27.83 percent decrease over earnings of $1.15 per share from the same period last year. The company reported quarterly sales of $47.254 billion which missed the analyst consensus estimate of $52.557 billion by 10.09 percent. This is a 11.29 percent decrease over sales of $53.269 billion the same period last year.

Earnings Beats

Earnings Misses

BP Q3 2024 Adj. EPS $0.83 Beats $0.76 Estimate, Sales $47.254B Miss $52.557B Estimate

BP plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) shares fell 1.70% to $30.99 Monday as crude oil prices tumbled over 6%. The slump in oil prices, triggered by news of targeted <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41575181/crude-oil-faces-steepest-one-day-drop-in-over-two-years-energy-stocks-plunge-prices">Israeli airstrikes in Iran</a>, weighed on BP's stock ahead of its third-quarter earnings report scheduled for Tuesday.
The company, a major player in global energy markets with diverse operations in oil, gas, and renewable energy, is highly sensitive to fluctuations in oil prices.
What Happened: Crude oil prices, as measured by the benchmark West Texas Intermediate (WTI), fell to $67 per barrel on Monday, the lowest point since early October and marking the steepest single-day drop since July 2022. 
The sell-off in oil markets was catalyzed by Israel's precise strikes on <a href="https://www.benzinga.com/news/24/10/41567809/oil-etfs-plunge-premarket-after-israels-strikes-on-iran">Iranian military facilities</a>, which left the country's oil infrastructure unscathed. 
This measured response alleviated concerns that oil production or export channels might be affected, reducing the risk of major disruptions in the global oil supply. The stability in Iranian oil exports helped drive down oil prices, as any potential shortfall in supply was averted for the time being.
Read Also: <a href="https://www.benzinga.com/markets/equities/24/10/41570418/boeing-eyes-15b-fundraise-as-it-struggles-due-to-strikes-and-mounting-losses-report">Boeing Eyes $15B Fundraise As It Struggles Due To Strikes And Mounting Losses: Report</a>
BP, with a significant portion of its revenues tied to crude oil production, is directly impacted by fluctuations in oil prices. Lower oil prices tend to compress the company's profit margins, as revenue from the upstream oil segment—exploration, extraction, and production of oil and gas—diminishes. 
Although BP has diversified into renewable energy and lower-carbon ventures, fossil fuels remain a core revenue stream, and a continued drop in oil prices would likely impact earnings.
What&#8217;s Next: The timing of Monday&#8217;s oil price slide is especially critical, as BP prepares to release its <a href="https://www.benzinga.com/quote/BP/earnings">third-quarter earnings results</a>, confirmed for Tuesday&#8217;s pre-market session. 
The report will offer insight into how well the company is managing current market conditions and whether its diversification into renewables and alternative energy sources is beginning to provide substantial offsets to its traditional oil and gas business.
BP's third-quarter performance could also reflect broader market trends, including the impact of slowing global demand, notably from China and recent announcements from OPEC+ signaling an increase in production. 
Goldman Sachs and ING analysts have suggested that with no immediate threat to Iranian oil exports, and as the market returns to focusing on fundamentals, oil prices are likely to remain under pressure. The anticipated market surplus through 2025, compounded by sluggish demand growth, could pose ongoing challenges for BP's oil-dependent earnings.
Read Also: <a href="https://www.benzinga.com/news/24/10/41573989/harris-vs-trump-robinhood-launches-election-event-contracts-for-traders-as-2024-presidential-race-he">Harris Vs. Trump: Robinhood Launches Election Event Contracts For Traders As 2024 Presidential Race Heats Up, But There&#8217;s A Catch</a>
<h2 class="wp-block-heading">How To Buy BP Stock</h2>
By now you're likely curious about how to participate in the market for BP &#8211; be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of <a href="https://www.benzinga.com/money/best-stock-trading-platforms">possible trading platforms here.</a> Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.
In the the case of BP, which is trading at $30.86 as of publishing time, $100 would buy you 3.24 shares of stock.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a <a href="https://www.benzinga.com/money/how-to-short-a-stock">stock can be found at this resource.</a> Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading &#8211; either way it allows you to profit off of the share price decline.
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, BP has a 52-week high of $40.40 and a 52-week low of $30.52.

BP Stock Drops As Crude Oil Prices Fall Ahead Of Q3 Earnings Report

Whales with a lot of money to spend have taken a noticeably bearish stance on BP.
Looking at options history for BP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) we detected 8 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 62% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $330,145 and 4, calls, for a total amount of $183,963.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $29.0 to $40.0 for BP over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for BP's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of BP's whale trades within a strike price range from $29.0 to $40.0 in the last 30 days. 
<h3>BP Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1730125828_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BP</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$7.2</td>
<td>$6.95</td>
<td>$7.2</td>
<td>$37.00</td>
<td>$110.8K</td>
<td>1.3K</td>
<td>220</td>
</tr>
<tr>
<td>BP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$3.7</td>
<td>$3.65</td>
<td>$3.7</td>
<td>$34.00</td>
<td>$89.5K</td>
<td>33</td>
<td>242</td>
</tr>
<tr>
<td>BP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$3.75</td>
<td>$3.7</td>
<td>$3.75</td>
<td>$34.00</td>
<td>$83.2K</td>
<td>33</td>
<td>464</td>
</tr>
<tr>
<td>BP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$1.38</td>
<td>$1.25</td>
<td>$1.28</td>
<td>$40.00</td>
<td>$64.1K</td>
<td>4.1K</td>
<td>2</td>
</tr>
<tr>
<td>BP</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/18/26</td>
<td>$1.28</td>
<td>$1.27</td>
<td>$1.28</td>
<td>$40.00</td>
<td>$64.0K</td>
<td>4.1K</td>
<td>1.0K</td>
</tr>
</tbody>
</table>

<h3>About BP</h3>
BP is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, it produced 1.1 million barrels of liquids and 6.9 billion cubic feet of natural gas per day. At the end of 2023, reserves stood at 6.8 billion barrels of oil equivalent, 55% of which are liquids. The company operates refineries with a capacity of 1.6 million barrels of oil per day.
Following our analysis of the options activities associated with BP, we pivot to a closer look at the company's own performance.
<h3>Present Market Standing of BP</h3>
<ul>
<li>Currently trading with a volume of 3,245,998, the BP's price is down by -2.17%, now at $30.84. </li>
<li>RSI readings suggest the stock is currently may be approaching oversold.</li>
<li>Anticipated earnings release is in 1 days.</li>
</ul>
<h3>What Analysts Are Saying About BP</h3>
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $36.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. <a href="https://www.benzinga.com/premium/ideas/options-moneyline-2/?t=Moop1arja3be22op14&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Reflecting concerns, an analyst from Scotiabank lowers its rating to Sector Perform with a new price target of $36.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for BP with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

BP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>) is preparing to release its quarterly earnings on Tuesday, 2024-10-29. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect BP to report an earnings per share (EPS) of $0.89.
BP bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
In the previous earnings release, the company beat EPS by $0.08, leading to a 1.67% increase in the share price the following trading session.
Here's a look at BP's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.92</td>
<td>1</td>
<td>1.05</td>
<td>1.37</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1</td>
<td>0.97</td>
<td>1.07</td>
<td>1.15</td>
</tr>
<tr>
<td>Price Change %</td>
<td>2.0%</td>
<td>-0.0%</td>
<td>-1.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730124100_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of BP were trading at $31.52 as of October 25. Over the last 52-week period, shares are down 15.72%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/BP/earnings">To track all earnings releases for BP visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Insights into BP's Upcoming Earnings

DWSN

NINE

RCON

Shares of oil and oil-related companies are trading lower after Israel reportedly did not damage Iran's oil sites amid strikes over the weekend.

Amazon is offering new discounts on gas for Prime members and will help electric vehicle drivers save on vehicle charging in 2025.
Amazon.com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is adding another reason for consumers to sign up for its Amazon Prime membership program as the e-commerce giant intensifies the battle for subscribers against <a href="https://www.benzinga.com/news/large-cap/24/06/39387497/walmart-enhances-walmart-to-compete-with-amazon-prime-key-differences-unveiled">retailer Walmart Inc (NYSE:</a><a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>).
What Happened: Already offering perks like free shipping on millions of items, discounts and <a href="https://www.benzinga.com/general/entertainment/23/10/35381234/amazon-scores-with-nfl-thursday-night-football-is-a-special-nba-broadcast-next">a streaming platform </a>membership, Amazon Prime memberships now come with savings at the gas pump.
Amazon <a href="https://press.aboutamazon.com/2024/10/amazon-announces-new-fuel-savings-offer-for-prime-members">announced </a>Prime members will save 10 cents per gallon at around 7,000 BP, Amoco and ampm gas stations across the U.S., stations owned by BP PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>).
While the savings are currently only for gas-powered vehicles, Amazon promises that savings for electric vehicle owners are coming. Amazon will offer savings with bp pulse, BP&#39;s electric vehicle <a href="https://www.benzinga.com/news/24/05/38745419/bp-wants-to-buy-tesla-supercharging-stations-after-elon-musk-fired-hundreds-of-employees-responsible">charging business</a>, beginning in 2025.
&quot;Prime is an incredible value for members,&quot; Amazon Prime Vice President Jamil Ghani said. &quot;We&#39;re constantly looking to add more value for Prime members and perhaps the broadest and most popular additional benefit we could offer is fuel savings &mdash; we&#39;re excited to give this to Prime members.&quot;
Read Also: <a href="https://www.benzinga.com/news/earnings/24/08/40114662/amazon-q2-earnings-highlights-revenue-miss-eps-beat-q3-guidance-and-more">Amazon Q2 Earnings Highlights: Revenue Miss, EPS Beat, Q3 Guidance And More</a>
Why It&#39;s Important: The latest move from Amazon could be a direct response to the Walmart+ subscription service from Walmart, which offers savings at the pump at Exxon Mobil-owned gas stations.
Sam&#39;s Club and Costco have also offered discounts on gas purchases for years as a way to boost memberships.
While Amazon doesn&#39;t regularly break out its number of Prime members, the latest perk could provide a boost to the figure in the coming months.
Amazon recently said its Prime Day two-day October event <a href="https://www.benzinga.com/news/large-cap/24/10/41276044/amazon-prime-big-deal-days-2024-scores-record-breaking-sales">was record-breaking </a>and led to a record amount of sign-ups for Amazon Prime.
Originally launched as a subscription service to offer free two-day shipping to members, Amazon Prime has grown to include Prime Video streaming, exclusive deals, Amazon Music, discounted prescription medications, unlimited photo storage, free games, a free Grubhub+ membership and more.
The two-day shipping has also improved the free same-day or one-day delivery for millions of items for Prime members.
Amazon Prime costs $14.99 per month or $139 when paid annually. Young adults, college students and consumers on government assistance can receive discounted membership rates.
AMZN Price Action: Amazon stock trades at $186.64 on Thursday versus a 52-week trading range of $118.35 to $201.20. Amazon stock is up 25% year-to-date in 2024.
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Photo: Unsplash

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The Dow Jones Industrial Average is sporting a triple-digit lead this afternoon, as traders unpack Nvidia's better-than-expected quarter and volatile post-earnings response.

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The AgTech industry is transforming the agricultural landscape with innovations to boost productivity and sustainability. Given this backdrop, consider keeping an eye on agricultural technology stocks like Deere & Co. (DE), Corteva (CTVA), and Village Farms International (VFF). Read more… The agricultural technology (AgTech) sector is revolutionizing food production by integrating cutting-edge technologies such as Artificial Intelligence (AI), robotics, and precision farming. Leveraging AI, robotics, and data analytics, these firms are addressing global challenges like climate change and resource shortages.
Below, I have highlighted three agricultural technology firms: Deere &amp; Company (<a href="https://stocknews.com/stock/DE/">DE</a>), Corteva, Inc. (<a href="https://stocknews.com/stock/CTVA/">CTVA</a>), and Village Farms International, Inc. (<a href="https://stocknews.com/stock/VFF/">VFF</a>), which are well-positioned to capture the opportunity to enhance food production.
Under the Biden-Harris administration, the <a href="https://www.usda.gov/media/press-releases/2024/10/30/biden-harris-administration-makes-investments-strengthen-american">U.S. Department of Agriculture (USDA)</a> announced it would strengthen American farms and expand innovative domestic fertilizer production by awarding over $120 million to fund six fertilizer production projects.
Precision agriculture has gained traction, allowing farmers to monitor crop health and soil conditions with tools like sensors and drones. These technologies help minimize waste and maximize yields. <a href="https://www.gao.gov/products/gao-24-105962">Federal agencies support such innovations</a> and have implemented a conservation benefit for implementing such practices over the last few years.
The worldwide AgTech market is anticipated to reach <a href="https://explodingtopics.com/blog/agtech-market">$74.03 billion by 2034</a>, growing at a CAGR of 12.2%. Also, with sustainable agriculture becoming a global priority, these companies are positioned to benefit from long-term growth trends, providing solutions that address both economic and environmental challenges.
With that in mind, let's dig deeper into the fundamentals of the above-mentioned AgTech stocks in detail:
Deere &amp; Company (<a href="https://stocknews.com/stock/DE/">DE</a>)
DE engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture; Small Agriculture and Turf; Construction and Forestry; and Financial Services. 
On October 23, DE introduced its next generation of SmartGrade technology on the 450, 550, and 650 P-Tier Small Dozers. This new technology rollout enables seamless upgradeability and also serves as a more enhanced management solution.
In the same month, DE announced an expansion to its Agriculture &amp; Turf training center and field site. This development supports both service and sales training and is viewed as an investment that advances the company's commitment to customer success through the support of John Deere's world-class dealer channel. 
DE's total <a href="https://www.investopedia.com/terms/r/revenue.asp">revenue</a> for the fourth quarter (ended October 27, 2024) amounted to $11.14 billion. The company's attributable net income came in at $1.25 billion and $4.55 per share.
Analysts expect DE's revenue for the first quarter (ending January 2025) to decline 32.9% year-over-year to $8.83 billion. However, the consensus EPS estimate of $3.93 for the same period indicates a 52.8% year-over-year decline.
Over the past nine months, the stock has surged 12.3%, closing the last trading session at $412.
DE's stance is apparent in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has a B grade for Momentum. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
Among the 79 stocks in the A-rated <a href="https://stocknews.com/category/industrial-machinery/">Industrial - Machinery</a> industry, it is ranked #61. <a href="https://stocknews.com/stock/DE/">Click here</a> to see the additional DE ratings (Growth, Value, Stability, Sentiment, and Quality).
Corteva, Inc. (<a href="https://stocknews.com/stock/CTVA/">CTVA</a>)
CTVA is a global pure-play agriculture company that provides seed and crop protection solutions focused on the agriculture industry. The company operates in two segments: Seed and Crop Protection.
On November 18, CTVA announced a partnership with BP p.l.c. (<a href="https://stocknews.com/stock/BP/">BP</a>) to develop a low-carbon intensity bio-feedstock joint venture. This collaboration would produce and deliver crop-based biofuel feedstocks to help meet the anticipated growth in demand for Sustainable Aviation Fuel (SAF). It will also help CTVA become part of the global decarbonization solution.
On September 17, CTVA announced a collaboration with Pairwise, a technology company pioneering the application of gene editing in food and agriculture. This collaboration is to accelerate the delivery of advanced gene editing solutions in agriculture. Under this agreement, CTVA will invest $25 million as equity investment in Pairwise, helping expand the reach and benefits of gene editing to a variety of staple and special corps.
For the nine-month period that ended on September 30, 2024, CTVA's net sales stood at $12.93 billion. Its non-GAAP operating EBITDA amounted to $2.85 billion, while its Seed segment's non-GAAP operating EBITDA grew 7.8% year-over-year to $2.13 billion. Also, its non-GAAP operating earnings per share came in at $2.24.
According to the company's financial guidance, CTVA forecasts fiscal year 2024 operating EBITDA in the range of $3.35 billion-$3.45 billion. In addition, it anticipates its free cash flow to be in the range of $1.50 billion-$2 billion.
The consensus revenue estimate of $4.06 billion for the fiscal fourth quarter (ending December 2024) represents a 9.6% increase year-over-year. The consensus EPS estimate of $0.32 for the same quarter indicates a 115.6% improvement year-over-year. The company has an impressive surprise history; it surpassed the consensus EPS estimates in three of the trailing four quarters.
The stock has gained 25.4% over the past year to close the last trading session at $58.88.
CTVA's POWR Ratings reflect this outlook. It is ranked #15 out of 24 stocks in the <a href="https://stocknews.com/category/agriculture/">Agriculture</a> industry. To see the other ratings of CTVA for Growth, Value, Momentum, Stability, Sentiment, and Quality, <a href="https://stocknews.com/stock/CTVA/">click here</a>.
Village Farms International, Inc. (<a href="https://stocknews.com/stock/VFF/">VFF</a>)
Headquartered in Delta, Canada, VFF produces, markets, and sells greenhouse-grown tomatoes, bell peppers, and cucumbers. The company is also a vertically integrated supplier of plant-based consumer packaged goods in the cannabis and cannabidiol (CBD) categories. It operates through four segments: Produce; Cannabis-Canada; Cannabis-U.S.; and Energy. 
On September 24, VFF announced the complete acquisition of Leli Holland, B.V. This transaction will allow VFF to permit legal recreational cannabis operations and also help expand its medicinal operations internationally.
On August 1, ROSE LifeScience Inc., majorly owned by VFF, received a Cannabis Research Licence from Health Canada under the Cannabis Act. This approval will enable ROSE to focus on advanced product innovations and developments in cannabis and validate value-added technologies.
During the third quarter that ended on September 30, 2024, VFF's sales increased 19.9% year-over-year to CAD83.37 million ($59.64 million). The company's gross profit came in at CAD15.71 million ($11.28 million), reflecting an increase of 7.4% from the prior year's quarter. In addition, its adjusted EBITDA amounted to CAD5.30 million ($3.79 million), reflecting an increase of 63.2% year-over-year.
Street expects VFF's revenue for the current year (ending December 2024) to increase 16.6% year-over-year to $333.74 million. For the fiscal year 2025, its revenue is expected to grow by 4.1% from the prior year to $347.40 million.
Shares of VFF have surged marginally year-to-date to close the last trading session at $0.79.
VFF's fundamentals are reflected in its POWR Ratings. The stock has a B grade for Growth. It is ranked #14 out of 24 stocks in the Agriculture industry.
Beyond what is stated above, we've also rated VFF for Value, Momentum, Stability, Sentiment, and Quality. Get all VFF's ratings <a href="https://stocknews.com/stock/VFF/">here</a>.
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DE shares were trading at $439.35 per share on Thursday afternoon, up $34.39 (+8.49%). Year-to-date, DE has gained 11.10%, versus a 26.19% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: ShreyaRathi</h2> <img src='https:/wp-content/uploads/2024/10/0.jpeg' style="float:left; padding:5px;width:125px;"><a href="https://stocknews.com/authors/?author=shreya-rathi">More...</a>The post <a href=https://stocknews.com/news/de-ctva-vff-bp-3-agricultural-technology-firms-enhancing-food-production/>3 Agricultural Technology Firms Enhancing Food Production</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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