BP p.l.c. (BP) was a big mover last session, as the company saw its shares rise over 5% on the day. The upside was driven by the company’s announcement that it will pay a whopping $18.7 billion to settle all federal and state claims associated with the 2010 Deepwater Horizon oil spill. This also led to far more shares changing hands than in a normal session. The rally reverses the downtrend for the company since Jun 25, as the stock is now down nearly 6%.
In the last 30 days, the company has seen one positive and one negative estimate revision while the Zacks Consensus Estimate moved higher, suggesting more solid trading ahead. So make sure to keep an eye on this stock going forward to see if Thursday’s jump can turn into more strength down the road.
BP currently has a Zacks Rank #2 (Buy) while its Earnings ESP is positive.
Another favorably-placed integrated oil stock is Eni SpA (E), which holds the same Zacks Rank as BP.
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