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Here's Why Retain Strategy is Apt for BP Stock Right Now

BP plc BP, a leading integrated energy company, has witnessed no earnings estimate revisions for 2024 and 2025 in the past seven days.

What's Favoring the Stock?

West Texas Intermediate crude prices nearing $80 per barrel are proving highly advantageous for BP’s exploration and production endeavors. The energy giant boasts a robust pipeline of significant upstream projects, either operational or set to commence activities this year and beyond.

Furthermore, BP is at the forefront of the energy transition movement, aiming to achieve net-zero emissions by 2050 or sooner. The integrated company is committed to expanding its renewable energy capacity to 20 gigawatts by 2025.

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The company, carrying a Zacks Rank #3 (Hold),demonstrates robust involvement in refining and marketing sectors, offering resilience during business disruptions and periods of depressed oil prices.

Risks

Having a strong presence in the upstream energy space, the company’s exploration and production operations are exposed to volatility in oil and natural gas prices.

Stocks to Consider

Better-ranked energy companies include Vitesse Energy Inc VTS, ProPetro Holding Corp. PUMP and Vista Energy SAB de CV VIST. While Vitesse Energy sports a Zacks Rank #1 (Strong Buy), ProPetro Holding and Vista Energy carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.    

Vitesse Energy has non-operated working and mineral interests in oil and gas assets, mainly across the prolific Bakken in North Dakota. With interests in 6,932 productive wells, Vitesse Energy has secured a solid production outlook, assuming that the crude pricing scenario will remain extremely favorable.

The business scenario for ProPetro Holding is bright, given the current favorable oilfield service demand. Thus, it secures handsome cashflows as it is a leading provider of pressure pumping and other complementary services. For 2024 and 2025, ProPetro Holding has witnessed upward earnings estimate revisions over the past 30 days.

Vista Energy, a leading exploration and production company, has a significant presence in Vaca Muerta, a highly productive shale oil and gas play outside of North America. The company has set an ambitious goal of achieving net-zero emissions by 2026.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

BP p.l.c. (BP) : Free Stock Analysis Report

ProPetro Holding Corp. (PUMP) : Free Stock Analysis Report

Vista Oil & Gas, S.A.B. de C.V. Sponsored ADR (VIST) : Free Stock Analysis Report

Vitesse Energy, Inc. (VTS) : Free Stock Analysis Report

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Zacks Investment Research