) is set to report first quarter 2014 results on Apr 29, before
the market opens. Last quarter, the company had posted an
earnings surprise of -1.10%. Let's see how things are shaping up
for this announcement.
BP PLC (BP): Free Stock Analysis Report
PIONEER EGY SVC (PES): Free Stock Analysis
PHILLIPS 66 PTR (PSXP): Free Stock Analysis
UNIT CORP (UNT): Free Stock Analysis Report
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A Likely Positive Surprise
Our proven model shows that BP is likely to beat earnings because
it has the right combination of two key ingredients.
, which represents the difference between the Most Accurate
estimate and the Zacks Consensus Estimate, is at +0.91%. This is
a very meaningful and leading indicator of a likely positive
Zacks Rank: BP currently holds a Zacks Rank #3 (Hold). Note that
stocks with Zacks Ranks #1 (Strong Buy), 2 (Buy) and 3 have a
significantly higher chance of beating earnings. The Sell-rated
stocks (#4 and 5) should never be considered going into an
The combination of BP's Zacks Rank #3 and +0.91% ESP makes us
confident of an earnings beat.
Factors Driving Better-than-Expected Results This
British energy giant, BP witnessed sluggish numbers in fourth
quarter 2013 owing to depressed downstream operations and lower
liquid realizations. In that quarter, adjusted earnings of 90
cents per American Depositary Share fell a penny short of the
Zacks Consensus Estimate and decreased 25.6% from $1.21 earned a
However, we expect this trend to buck in the first quarter with
refining margins improving from the low level as witnessed in the
fourth quarter. Apart from that, increased exposure to heavy
crude differentials in the U.S. as the company ramps up its heavy
crude processing at the Whiting refinery would also lead to
On the flip side, production for the first quarter would go
downhill owing to the expiry of Abu Dhabi onshore concession and
Other Stocks to Consider
Here are some other companies you may want to consider as our
model shows that these have the right combination of elements to
post an earnings beat this quarter:
Pioneer Energy Services Corp.
) has an earnings ESP of +40.00% and holds a Zacks Rank #1.
Pioneer Energy Services Partners will report first quarter
earnings on Apr 29.
Phillips 66 Partners L.P.
) has an earnings ESP of +14.82% and holds a Zacks Rank #1.
Phillips 66 Partners will report first quarter earnings on Apr
) has an earnings ESP of +1.80% and holds a Zacks Rank #1. Unit
Corp. will report first quarter earnings on May 8.