BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business. The company was founded in 1908 and is headquartered in London, the United Kingdom.

BP p.l.c.

Investors in BP PLC (Symbol: BP) saw new options begin trading today, for the October 24th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the BP options chain for the new October 24th contracts and identified one put and one call contract of particular interest.
The put contract at the $33.00 strike price has a current bid of 59 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $33.00, but will also collect the premium, putting the cost basis of the shares at $32.41 (before broker commissions). To an investor already interested in purchasing shares of BP, that could represent an attractive alternative to paying $34.35/share today.
Because the $33.00 strike represents an approximate 4% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 63%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 1.79% return on the cash commitment, or 13.05% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for BP PLC, and highlighting in green where the $33.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $35.00 strike price has a current bid of 97 cents. If an investor was to purchase shares of BP stock at the current price level of $34.35/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $35.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 4.72% if the stock gets called away at the October 24th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if BP shares really soar, which is why looking at the trailing twelve month trading history for BP PLC, as well as studying the business fundamentals becomes important. Below is a chart showing BP's trailing twelve month trading history, with the $35.00 strike highlighted in red:
Considering the fact that the $35.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 52%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 2.82% boost of extra return to the investor, or 20.61% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example, as well as the call contract example, are both approximately 43%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 250 trading day closing values as well as today's price of $34.35) to be 30%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Also see:
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CETV market cap history
HGBL shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

BP October 24th Options Begin Trading

Occidental Petroleum Corporation OXY has made notable progress in reducing its debt load, a priority since the 2019 Anadarko acquisition. Leveraging robust free cash flow and proceeds from asset sales, the company has repaid significant near and medium-term maturities, improving its financial health. Over the past 13 months alone, Occidental has reduced debt by $7.5 billion, cutting annual interest expenses by $410 million. This disciplined deleveraging not only enhances balance sheet strength but also bolsters financial flexibility.
A leaner capital structure allows Occidental to better withstand commodity price swings while redirecting more capital toward high-return projects. The ongoing debt reduction also builds investors’ confidence, making the company more appealing in both equity and debt markets. Lower borrowing costs directly support profitability and cash flow, which ultimately benefit its shareholders through stronger returns.
Management continues to reinforce this strategy with targeted divestitures, including an announced $950 million sale of non-core assets following the first quarter of 2025. Proceeds will further reduce obligations, lowering capital servicing costs and strengthening Occidental’s long-term financial foundation.
With the debt profile improving, Occidental is well-positioned to pursue growth opportunities across its core Permian Basin operations, expand in chemicals and midstream, and invest in low-carbon initiatives such as carbon capture. This ongoing financial discipline supports resilience, competitive strength and the potential for enhanced shareholder value over the coming years.
Debt Reduction Boosting Financial Flexibility
For oil and gas companies, debt reduction enhances financial flexibility, lowers interest expenses and strengthens balance sheets. This allows them to better navigate commodity price volatility, reinvest in high-return projects and improve shareholder returns, while positioning for sustainable long-term growth and competitiveness.
BP Plc. BP and ConocoPhillips COP have reaped clear benefits from reducing debt, lowering interest expenses and strengthening cash flow stability. With leaner balance sheets, both companies enhanced resilience to price fluctuations, expanded capital allocation toward growth projects and improved shareholder value through dividends and buybacks, reinforcing long-term financial sustainability.
OXY’s Price Performance
Occidental’s shares have gained 14.1% in the past three months against the Zacks Oil and Gas-Integrated-United States industry’s rally of 10.3%.
Image Source: Zacks Investment Research
OXY’s Shares Are Trading at a Premium
Occidental’s shares are currently expensive on a relative basis, with its current trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA TTM) being 5.52X compared with the industry average of 4.71X.
Image Source: Zacks Investment Research
Mixed Sales Estimate Movement
The Zacks Consensus Estimate for Occidental’s 2025 sales estimate indicates a year-over-year decline of 0.86%, while the 2026 estimate implies an increase of 1%.
Image Source: Zacks Investment Research
OXY’s Zacks Rank
Occidental currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
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Can Ongoing Debt Reduction Boost the Prospects of Occidental Stock?

Looking at the universe of stocks we cover at Dividend Channel, on 8/15/25, BP PLC (Symbol: BP), TXO Partners LP (Symbol: TXO), and Exxon Mobil Corp (Symbol: XOM) will all trade ex-dividend for their respective upcoming dividends. BP PLC will pay its quarterly dividend of $0.4992 on 9/19/25, TXO Partners LP will pay its quarterly dividend of $0.45 on 8/22/25, and Exxon Mobil Corp will pay its quarterly dividend of $0.99 on 9/10/25. As a percentage of BP's recent stock price of $34.07, this dividend works out to approximately 1.47%, so look for shares of BP PLC to trade 1.47% lower — all else being equal — when BP shares open for trading on 8/15/25. Similarly, investors should look for TXO to open 3.08% lower in price and for XOM to open 0.93% lower, all else being equal.
Below are dividend history charts for BP, TXO, and XOM, showing historical dividends prior to the most recent ones declared.
BP PLC (Symbol: BP):
TXO Partners LP (Symbol: TXO):
Exxon Mobil Corp (Symbol: XOM):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 5.86% for BP PLC, 12.34% for TXO Partners LP, and 3.73% for Exxon Mobil Corp.
In Wednesday trading, BP PLC shares are currently up about 0.3%, TXO Partners LP shares are up about 1.3%, and Exxon Mobil Corp shares are up about 0.3% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Ex-Dividend Reminder: BP, TXO Partners and Exxon Mobil

ConocoPhillips COP is a leading player in the energy sector, primarily involved in exploration and production activities, with a strong global presence. The company highlights that it has a durable and diverse portfolio of assets that should support its production growth for decades. At the same time, COP is focused on high-grading its portfolio by divesting non-core assets and redirecting the proceeds toward high-return opportunities.
COP follows a rigorous process of reviewing all assets within its portfolio annually to identify assets that would compete for capital in the long run. For assets that fail to meet these criteria, the company takes time to assess whether technological or operational changes can help the case. Otherwise, such assets are earmarked for divestment.
The company’s recent announcement regarding the $1.3 billion sale of its Anadarko Basin assets underscores COP’s disciplined approach toward high-grading its asset portfolio. The Anadarko Basin asset sale would allow the company to accelerate value realization from its non-core assets and optimize its portfolio in the U.S. Lower 48. Combined with the sale of other non-core Permian assets, the transaction has taken COP a step ahead of its asset-sales target for the year. The company has finalized asset divestitures worth more than $2.5 billion within nine months of closing its acquisition of Marathon Oil. Furthermore, ConocoPhillips has extended its target to reach $5 billion in asset sales by the end of 2026.
COP prioritizes divestment of non-core assets while focusing on high-quality, low-cost assets with low breakeven costs. The sale of non-core assets enhances capital efficiency for the firm while allowing it to reinvest the returns toward high-margin basins.
BP and Phillips 66’s Focus on Portfolio Optimization
BP plc BP and Phillips 66 PSX are two other global energy firms focused on offloading non-core assets to improve shareholder returns and operational efficiency.
BP is selling non-core assets to streamline its operations to lower its debt burden and generate higher shareholder returns. In 2025, the British energy giant anticipates generating $3 billion to $4 billion from divestments and other proceeds. In the second quarter of 2025, the company generated $1.4 billion in divestment and other proceeds.
Phillips 66 is pursuing a strategy focused on divesting assets outside its core operations, aiming to reallocate the proceeds to more strategic priorities like enhancing shareholder returns. This approach is evident in Phillips 66's announcement of the sale of its non-operated equity interest in the Gulf Coast Express pipeline for $853 million. Furthermore, the company announced the sale of a 65% interest in its Germany and Austria retail business in May 2025.
COP’s Price Performance, Valuation & Estimates
Shares of COP have plunged 14% over the past year against the 20.6% decline of the industry.
Image Source: Zacks Investment Research
From a valuation standpoint, COP trades at a trailing 12-month enterprise value to EBITDA (EV/EBITDA) of 5.28x. This is below the broader industry average of 10.65x.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for COP’s 2025 earnings has been revised upward over the past seven days.
Image Source: Zacks Investment Research
COP, BP and PSX currently carry a Zacks Rank #3 (Hold), each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Can ConocoPhillips' Strategic Divestments Support Long-Term Growth?

(RTTNews) - British Oil and gas major bp plc (BP.L, BP_UN.TO, BP) reported Tuesday a replacement cost or RC profit in its second quarter, compared to prior year's loss, despite lower sales. Underlying RC profit and top line beat market estimates.
Further, bp announced an interim dividend of 8.320 cents per ordinary share, an increase of 4%, which is expected to be paid on September 19 to ordinary shareholders and ADS holders on the register on August 15.
The company also announced a further $750 million share buyback for the second quarter.
Looking ahead, for the third quarter, bp expects reported upstream production to be slightly lower sequentially.
For fiscal 2025, bp continues to expect reported upstream production to be lower and underlying upstream production to be slightly lower compared with 2024.
In the second quarter, RC profit was $2.04 billion, compared to last year's loss of $16 million.
Underlying RC profit was $2.35 billion, compared to $2.76 billion a year ago. Underlying RC profit per ordinary share was 15.03 cents, compared to 16.61 cents a year ago. Underlying RC profit per ADS was $0.90, compared to last year's $1.00.
The Wall Street analysts on average expected the company to report earnings of $0.66 per share. Analysts' estimates typically exclude special items.
In the quarter, net profit attributable to bp shareholders was $1.63 billion, compared to loss of $129 million last year. Earnings per share were 10.27 cents, compared to loss of 0.78 cents a year ago. Earnings per ADS were $0.62, compared to loss of $0.05 last year.
Adjusted EBITDA grew to $9.97 billion from prior year's $9.64 billion.
Total revenues and other income, meanwhile, dropped to $47.68 billion from prior year's $48.25 billion. Sales and other operating revenues were $46.63 billion, compared to $47.30 billion last year.
The Street expected sales of $40.43 billion for the quarter.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

BP Plc Turns To RC Profit In Q2, Beats Market; Plans $750 Mln Share Buyback

Last Friday, Exxon Mobil Corporation XOM announced second-quarter 2025 earnings that surpassed expectations. This was fueled by the highest second-quarter production since Exxon and Mobil merged over 25 years ago, thanks to XOM’s presence in high-return assets like Permian and offshore Guyana, also contributing to a strong business outlook.
Before analyzing the factors driving this positive outlook, let’s first review the second-quarter results.
XOM’s Q2 Earnings Snapshot
ExxonMobil reported earnings per share of $1.64 (excluding identified items), which beat the Zacks Consensus Estimate of $1.49. The bottom line declined from the year-ago level of $2.14.
Total quarterly revenues of $81.5 billion missed the Zacks Consensus Estimate of $82.8 billion. The top line declined from the year-ago figure of $93.06 billion.
Image Source: Zacks Investment Research
Chevron Corporation CVX and BP plc BP are two other prominent integrated energy companies. While CVX has already posted results, BP will report tomorrow.
Two Highly Profitable Upstream Assets of ExxonMobil
ExxonMobil has a strong presence in offshore Guyana resources and the Permian, the most productive basin in the United States.
The integrated energy company announced that it discovered a massive amount of oil—nearly 11 billion barrels—off the coast of Guyana. To put it simply, this is the largest oil discovery anywhere in the world in the last 15 years. In the region, there are three active projects currently for XOM, combinedly producing at a rate of roughly 650,000 barrels per day. XOM expects a total of eight projects in the region to be online by 2030, which will produce a combined 1.7 million barrels of oil equivalent per day (MMBoE/D).
In the Permian, the energy giant is employing advanced technology to get much more oil out of each well, thereby improving oil recovery. From the most prolific basin, XOM is expecting to produce 2.3 MMBoE/D by the end of this decade, suggesting a surge from the current 1.6 MMBoE/D.
XOM Revises Pioneer Acquisition Synergy Estimates Upward
With a strong focus on strengthening its presence in the Permian, ExxonMobil completed the acquisition of Pioneer Natural Resources Company on May 3, 2024. With 1.4 million net acres of the combined company in the Delaware and Midland basins, having an estimated 16 billion barrels of oil equivalent resource, ExxonMobil has greatly transformed its upstream portfolio.
The Pioneer Natural acquisition's average annual synergy, which XOM earlier estimated at roughly $2 billion over 10 years, has now been revised upward to more than $3 billion annually. The integrated giant now believes the average number could be even more.
How the Diversified Energy Majors CVX, BP Fared in Q2
Chevron reported adjusted second-quarter earnings per share of $1.77, beating the Zacks Consensus Estimate of $1.70. The outperformance stemmed from higher-than-expected production in the company’s key upstream segment.
However, the bottom line came well below the year-ago adjusted profit of $2.55 due to weaker oil price realizations.
CVX generated revenue of $44.8 billion. The sales figure missed the Zacks Consensus Estimate of $47.1 billion and decreased 12.4% year over year.
The Zacks Consensus Estimate for BP’s earnings is pegged at 68 cents per share, suggesting a year-over-year decline of 32%.
Should Investors Bet on XOM Stock Right Away?
Despite the positive developments, ExxonMobil has gained only a modest 3.8% year to date, possibly due to intensifying trade tensions, which have made the overall market uncertain.
Notably, ExxonMobil admits it’s still unsure whether projects like blue hydrogen (a cleaner fuel) and lithium (used in EV batteries) will generate enough profit to be worthwhile. While these are promising long-term opportunities, their high risk and uncertainty may weigh on the stock price.
YTD Price Chart
Image Source: Zacks Investment Research
Coming to the valuation story, the stock is trading at a 7.12x trailing 12-month Enterprise Value to Earnings Before Interest, Taxes, Depreciation and Amortization (EV/EBITDA), which is at a premium compared with the broader industry average of 4.31x.
Image Source: Zacks Investment Research
Thus, considering the uncertainty and expensive valuations, it might not be the right time to bet on the stock. Those who have already invested may retain XOM, which carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Strongest Q2 Production Yet: Continue to Hold ExxonMobil Stock

Chevron Corporation CVX is slated to release second-quarter 2025 results on Aug. 1, before market open. The Zacks Consensus Estimate for the to-be-reported quarter’s earnings per share (EPS) and revenues is pegged at $1.66 per share and $47.1 billion, respectively.
The earnings estimates for the to-be-reported quarter have been revised upward by 5.1% over the past 30 days. The bottom-line projection indicates a decline of 34.9% from the year-ago reported number. The Zacks Consensus Estimate for quarterly revenues, meanwhile, suggests a year-over-year decrease of 7.9%.
For full-year 2025, the Zacks Consensus Estimate for CVX’s revenues is pegged at $191.5 billion, implying a decline of 5.6% year over year. The consensus mark for 2025 EPS stands at $7.26, indicating a contraction of around 27.8%.
Image Source: Zacks Investment Research
In the trailing four quarters, the San Ramon, CA-based oil and gas company surpassed EPS estimates twice and missed in the other two, as reflected in the chart below.
Chevron Corporation Price and EPS Surprise
Q2 Earnings Whispers for Chevron
Our proven model predicts an earnings beat for Chevron this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
CVX has an Earnings ESP of +3.63% and a Zacks Rank #3.
You can see the complete list of today’s Zacks #1 Rank stocks here.
Natural Gas Strength to Aid CVX Q2 Results
Let’s start by exploring how Chevron’s second-quarter results may have been shaped by fluctuations in oil and natural gas prices.
According to the U.S. Energy Information Administration, average monthly WTI crude prices for April, May and June 2024 were $85.35, $80.02 and $79.77 per barrel, respectively. By comparison, prices declined to $63.54, $62.17, and $68.17 per barrel in the same order during the comparable months of 2025. This year-over-year drop highlights the weaker oil price environment in Q2 2025. As a matter of fact, ExxonMobil XOM, the world's largest integrated energy company, has already cautioned that its second-quarter earnings could take a hit because of lower oil prices.
However, natural gas prices presented positive signals. In Q2 2025, U.S. Henry Hub average prices were $3.42 in April, $3.12 in May and $3.02 in June. These prices were significantly higher than the same months in 2024 — $1.60, $2.12 and $2.54, respectively.
Chevron’s production also offers an encouraging story. Output edged up 0.2% in the previous quarter, reflecting higher volumes from the Permian Basin, Kazakhstan and the Gulf of America, offset by asset sales in Canada and the Republic of Congo. For Q2 2025, Chevron’s total production volume is estimated at 3,326 thousand barrels of oil-equivalent per day (MBOE/d), according to the Zacks Consensus Estimate. This is up from 3,292 MBOE/d churned out in the year-ago period. In particular, domestic natural gas production is likely to have been particularly strong, benefiting from a favorable price environment. The consensus mark for second-quarter U.S. gas output is 2,827 million cubic feet per day (MMcf/d) compared to 2,643 MMcf/d in the corresponding period of 2024.
Chevron’s “Big Oil” peer BP plc BP also expects to pump out more oil and gas in the second quarter. This boost is largely thanks to higher output from BP’s U.S. shale operations. However, BP has also warned that lower crude oil prices will hit its drilling profits hard.
Coming back to Chevron, it might see a modest boost from its downstream/refining business, with margins going up. Consequently, the Zacks Consensus Estimate for CVX’s second-quarter downstream income is pegged at $631 million, implying an improvement from $597 million earned in the year-ago period. ExxonMobil, too, indicated that refining profits could potentially add between $100 million and $500 million to its downstream profits. Meanwhile, BP anticipates refining profits jumping from $15.20 per barrel in the first quarter to $21.10 in the second.
Price Performance & Valuation
Over the past year, shares of Chevron have contracted more than 2%, underperforming the S&P 500.
Image Source: Zacks Investment Research
From a valuation perspective — in terms of forward price-to-earnings ratio — Chevron is trading at a premium compared to the industry average. The stock is also trading above its five-year mean of 11.86.
Image Source: Zacks Investment Research
How Should You Play CVX Pre-Q2 Earnings?
Chevron heads into its second-quarter earnings report after recently concluding the Hess acquisition, secured after a lengthy dispute with ExxonMobil. The favorable ruling by an international arbitration panel puts an end to a long, drawn-out legal battle that had created tremendous uncertainty around one of the biggest oil deals in recent memory.
A fully integrated energy firm, Chevron is positioned as one of the top global integrated oil firms, set for sustainable production growth, particularly due to its dominant position in the lucrative Permian Basin. Chevron’s financial stability is also a key advantage. The company maintains a healthy balance sheet and continues to emphasize shareholder returns. With high dividend safety, Chevron returned billions in cash to investors even during oil price swings. This financial prudence supports long-term investor confidence.
However, Chevron is faced with muted sales growth, which has been a driving force behind its poor share performance. Sales of $47.6 billion in the first quarter fell 2.3% year over year, which followed negative growth rates in some of the prior periods of the recent past. Meanwhile, pre-tax profit plunged 30% to $5.6 billion in Q1 due to a 3% rise in total costs. As a result, pre-tax margins narrowed significantly. This is especially concerning as Chevron shifts toward shorter-cycle, reinvestment-heavy shale projects to maintain production.
So, all in all, now may not be the best time to buy the stock. It’s wise to wait for Chevron’s upcoming earnings to better gauge its 2025 outlook. CVX’s premium valuation only adds to the case for caution. The market is also eager to see the company’s initial thoughts on the landmark Hess deal, especially the impact it sees from the prized Guyana assets.
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Is Chevron Stock a Buy Ahead of Q2 Earnings or Best to Wait?

Phillips 66 PSX is set to report second-quarter 2025 earnings on July 25, before the opening bell.
Let us delve into the factors that are likely to have affected this diversified energy player’s quarterly performance. However, before that, it would be worth reviewing PSX’s performance in the previous quarter.
Highlights of Q1 Earnings & Surprise History
In the last reported quarter, the company’s adjusted loss of 90 cents per share was wider than the Zacks Consensus Estimate of a loss of 77 cents due to lower refining volumes and a drop in realized refining margins worldwide.
PSX’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed the same once, delivering an average surprise of 10.56%. This is depicted in the graph below:
Phillips 66 Price and EPS Surprise
Estimate Trend
The Zacks Consensus Estimate for second-quarter earnings per share of $1.63 has witnessed one upward and no downward movement over the past seven days. The estimated figure suggests a decline of 29.4% from the year-ago reported number.
The Zacks Consensus Estimate for revenues of $30.54 billion indicates a 21.5% decrease from the year-ago reported figure.
Factors to Consider
PSX is likely to have maintained a stable performance as demand for gasoline in the United States remained resilient during the second quarter of 2025. While refining margins softened slightly during the quarter, PSX’s diversified operations — particularly its midstream, chemicals, and expanding renewable fuels businesses like the Rodeo Renewable Complex — are expected to have offset this pressure.
The company also likely benefited from strategic investments, including the EPIC NGL acquisition, which enhances integration and earnings potential. PSX continues shuttering non-core assets — like its Los Angeles refinery — and redirecting capital to higher-margin, lower-emission projects, reinforcing long-term profitability.
Data from the U.S. Energy Information Administration show that the average spot price for West Texas Intermediate crude at Cushing, OK, was $64.63 per barrel for the quarter ended June 2025, down from $81.77 in the comparable period of 2024. With crude prices down nearly 21%, PSX’s input costs for refining fell, potentially boosting crack spreads — provided gasoline and diesel prices did not decline as sharply.
These factors are likely to have positively impacted PSX’s earnings in the to-be-reported quarter.
Earnings Whispers
Our proven model indicates an earnings beat for Phillips 66 this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is just the case here, as you will see below.
Earnings ESP: PSX’s Earnings ESP is +4.25%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3.
Other Stocks to Consider
Here are some other stocks that you may want to consider, as these too have the right combination of elements to post an earnings beat this reporting cycle.
BP plc BP has an Earnings ESP of +2.91% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
BP is scheduled to release second-quarter 2025 earnings on Aug. 5. The Zacks Consensus Estimate for BP’s earnings is pegged at 66 cents per share, implying a 34% year-over-year decline.
Matador Resources MTDR has an Earnings ESP of +10.22% and a Zacks Rank #3 at present.
Matador Resources is set to release second-quarter 2025 earnings on July 22. The Zacks Consensus Estimate for MTDR’s earnings is pegged at $1.25 per share, indicating a 39% decline year over year.
Valero Energy Corporation VLO currently has an Earnings ESP of +1.22% and a Zacks Rank #3.
Valero Energy is scheduled to release second-quarter earnings on July 24. The Zacks Consensus Estimate for VLO’s earnings is pegged at $1.76 per share, suggesting a 35% decline from the prior-year reported figure.
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Phillips 66 to Report Q2 Earnings: What's in the Cards?

Valero Energy Corporation VLO is set to report second-quarter 2025 results on July 24, before the opening bell. In the last reported quarter, Valero Energy’s adjusted earnings of 89 cents per share beat the Zacks Consensus Estimate of 43 cents due to lower total cost of sales. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
Earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering an average surprise of 122.87%. This is depicted in the graph below:
Valero Energy Corporation Price and EPS Surprise
Estimate Trend
The Zacks Consensus Estimate for second-quarter earnings per share of $1.76 has witnessed no downward revision and one upward revision in the past seven days. The estimated figure suggests a decline of 35.06% from the prior-year reported number.
The Zacks Consensus Estimate for revenues of $27.84 billion indicates a 19.29% decline from the year-ago recorded figure.
Factors to Consider
Valero Energy is expected to have maintained a stable performance in the second quarter, owing to high refinery utilization rates during this period. Per the data from the U.S. Energy Information Administration, spot prices for West Texas Intermediate Crude dropped nearly 21% from the prior-year quarter’s level. This might have supported the refining player’s profitability by reducing input costs.
Additionally, refining margins improved meaningfully during the quarter, driven by reduced global capacity from shutdowns at major refineries and strong seasonal demand, which boosted crack spreads, particularly benefiting Valero’s low-cost operations. The company’s strategic decision to close its high-cost Benicia refinery also aligns with broader industry consolidation, potentially enhancing future margins. Additionally, Valero has made notable progress in renewable diesel and SAF (sustainable aviation fuel) initiatives, which could have aided the company’s performance in the to-be-reported quarter.
These factors are expected to have positively impacted demand and pricing dynamics, potentially aiding Valero Energy’s quarterly performance.
Earnings Whispers
Our proven model indicates an earnings beat for VLO this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is just the case here, as you will see below.
Earnings ESP: Valero Energy has an Earnings ESP of +1.22%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: VLO currently carries a Zacks Rank #3.
Other Stocks to Consider
Here are some other firms from the energy space that you may want to consider, as these too have the right combination of elements to post an earnings beat this reporting cycle.
BP plc BP has an Earnings ESP of +2.91% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
BP is scheduled to release second-quarter 2025 earnings on Aug. 5. The Zacks Consensus Estimate for BP’s earnings is pegged at 66 cents per share, implying a 34% year-over-year decline.
Matador Resources MTDR has an Earnings ESP of +10.22% and a Zacks Rank #3 at present.
Matador Resources is set to release second-quarter 2025 earnings on July 22. The Zacks Consensus Estimate for MTDR’s earnings is pegged at $1.25 per share, indicating a 39% decline year over year.
Phillips 66 PSX has an Earnings ESP of +4.25% and a Zacks Rank #3 at present.
Phillips 66 is scheduled to release second-quarter earnings on July 25. The Zacks Consensus Estimate for PSX’s earnings is pegged at $1.63 per share, which indicates a 29.4% year-over-year decline.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Valero Energy to Report Q2 Earnings: What's in the Cards?

Baker Hughes BKR is set to report second-quarter 2025 results on July 22, after the closing bell.
Let us delve into the factors that might have influenced BKR’s performance in the to-be-reported quarter. Before that, it is worth taking a look at the company’s performance in the last reported quarter.
Highlights of BKR’s Q1 Earnings & Surprise History
In the last reported quarter, the company’s adjusted earnings of 51 cents per share beat the Zacks Consensus Estimate of 47 cents, primarily driven by higher demand for natural gas technology and an improving EBITDA margin.
Earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 11.9%. This is depicted in the graph below:
Baker Hughes Company Price and EPS Surprise
Estimate Trend for BKR
The Zacks Consensus Estimate for second-quarter earnings per share of 55 cents has witnessed two upward revisions and no downward movement in the past 30 days. The estimated figure suggests a 3.5% decline from the prior-year reported number. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
The Zacks Consensus Estimate for revenues of $6.6 billion indicates a 7.1% decline from the year-ago recorded figure.
BKR: Factors to Consider
Per the data from the U.S. Energy Information Administration (“EIA”), the average Cushing, OK, WTI spot prices for April, May and June of this year were $63.54, $62.17 and $68.17 per barrel, respectively. Thus, the overall pricing environment was favorable in the second quarter of 2025, as the breakeven costs of the exploration and production companies in the shale plays were significantly lower. The advantageous crude pricing environment is expected to have favored the demand for oilfield services for assisting exploration and production players in efficiently fixing oil and gas wells.
However, the Zacks Consensus Estimate for BKR’s total orders is pegged at $6.8 billion, lower than $7.5 billion reported in the year-ago quarter. The Zacks Consensus Estimate for BKR’s orders from the Oilfield Services & Equipment business is pegged at $3.5 billion, lower than $4.1 billion reported in the year-ago quarter.
Moreover, the Zacks Consensus Estimate for BKR’s revenues from the Oilfield Services & Equipment business is pegged at $3.5 billion, lower than $4 billion reported in the year-ago quarter. Our model predicts BKR’s second-quarter revenues from the Oilfield Services and Equipment business segment to decline 10% year over year.
Hence, the weak performance of the Oilfield Services & Equipment segment, the largest revenue contributor, may have adversely impacted its results for the upcoming quarter.
Earnings Whispers for BKR
Our proven model does not conclusively indicate an earnings beat for BKR this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat, which is not the case here, as you will see below.
Earnings ESP: Baker Hughes has an Earnings ESP of +3.03%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Zacks Rank: BKR currently carries a Zacks Rank #4 (Sell).
Stocks to Consider
Here are some stocks that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
BP plc BP currently has an Earnings ESP of +2.19% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
BP is scheduled to release second-quarter 2025 earnings on Aug. 5. The Zacks Consensus Estimate for BP’s earnings is pegged at 65 cents per share, suggesting a 35% decrease from the prior-year reported figure.
EOG Resources, Inc. EOG currently has an Earnings ESP of +2.61% and a Zacks Rank #3.
EOG Resources is scheduled to release second-quarter 2025 earnings on Aug. 7. The Zacks Consensus Estimate for EOG’s earnings is pegged at $2.14 per share, implying a 32.3% decline from the prior-year reported figure.
Flotek Industries Inc. FTK currently has an Earnings ESP of +28.00% and a Zacks Rank #3. Flotek is scheduled to release second-quarter earnings on Aug. 5.
The Zacks Consensus Estimate for FTK’s second-quarter 2025 earnings is pegged at 13 cents per share, suggesting a 116.7% increase from the prior-year reported figure.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Indicator	TTM Median
P/E	28.64 11.54
Price/Sales	0.41 1.21
P/B	0.97 1.32
P/FCF	6.04 7.93

Indicator	TTM Median
ROE	3.27 15.76
ROA	0.99 7.16
ROI	2.04 9.51
Net Worth	80.57 1.55
Quick Ratio	0.94 1.04
Current Ratio	1.22 1.25

Indicator	TTM Median
Net Profit Margin	1.37 14.48
Operating Margin	6.34 22.72
Gross Margin	27.75 50.09
Return on tangible equity	4.50 18.05

Indicator	TTM Median
EPS	1.07 0.39
EPS Forecast	1.09 0.35
Revenue	48.33B 204.00M
Gross Profit	12.72B —
EBITDA	6.88B —

BP p.l.c.

TTM metrics for the latest quarter under IFRS and their historical dynamics

Valuation

Debts

Efficiency

Other ratios

Revenue