Earnings Miss: Headquartered in London, BP Plc (BP – Free Report) reported fourth-quarter adjusted earnings of 64 cents per American Depositary Share (ADS) on a replacement cost basis. The bottom line missed the Zacks Consensus Estimate of 66 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 three of the last four quarters, the average positive earnings surprise being 26.8%.

BP p.l.c. Price and EPS Surprise

BP p.l.c. Price and EPS Surprise | BP p.l.c. Quote

Revenue: Revenues of $70,022 million came higher than $52,121 million in the year-ago comparable quarter. 

Key Stats: Total production of 2.581 million barrels of oil equivalent per day (MMBoe/d) was up 18% year over year.

The company sold liquids for $56.16 per barrel in the fourth quarter (versus $43.89 in the year-earlier quarter) and natural gas for $3.23 per thousand cubic feet (versus $3.08). Overall price realization increased to $37.48 per Boe from the year-ago level of $31.40 per Boe.   

Refining Marker Margin of $14.4 per barrel, up from $11.4 per barrel in the year-ago comparable period. Total refinery throughput increased to 1,698 thousand barrels per day (MB/d) from 1,644 MB/d in the year-earlier period. Refining availability was 96.1% versus 94.9% in the year-ago period.  

Zacks Rank:Currently, BP has a Zacks Rank #2 (Buy) but that could change following its fourth-quarter 2017 report which has just released. 

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