Analyst Consensus ?
ConsensusHold43 ratings
Bullish2353.5%
Neutral1841.9%
Bearish24.6%
1 unmapped firm rating excluded from the percentages.
BP p.l.c. · BP · FY2026 Q2 · Calendar Q3 2026
BP holds capex guidance as profit and balance-sheet focus strengthen
The supplied analysis supports a constructive but qualified view: stronger oil prices and trading helped earnings, while balance-sheet reduction and portfolio simplification could improve resilience; safety, costs and execution remain material offsets.
Reported Before market openNYSEEnergy
$132.15B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.22
Consensus $1.98
EPS surprise
+12.1%
Reported versus consensus
Reported revenue
$69.11B
Consensus $62.24B
Revenue surprise
+11.0%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-4.1%
Event window
SPY move
+1.8%
Same window
Abnormal move
-5.9%
Stock minus SPY
Volume
1.7×
Versus trailing sessions
Subsequent drift
+4.8%
Up to 20 sessions
BPSPY benchmark
Ask FN2 about BP FY2026 Q2
Transcript, numbers and history already loaded
Why did BP fall 4.1% after beating EPS estimates in FY2026 Q2?What changed in BP's guidance and outlook in FY2026 Q2?Give me the bull and bear case for BP after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the supplied prior-quarter analysis, the current analysis highlights a 4% dividend increase, plans to market Archaea Energy, continued divestments, and a net-debt target of $14–18bn by end-2026, while keeping capex guidance stable.
Guidance delta
Full-year capex guidance was maintained at $13.5–14bn, according to the supplied analysis.
Key takeaways
- The supplied analysis describes a strong quarter, with underlying profit up 78% QoQ and cash flow of $10.9bn.
- Management emphasized balance-sheet reduction, portfolio simplification, disciplined capital allocation, safety and cultural change.
- Safety incidents and higher operating costs remain important execution risks.
Management priorities
- Reduce net debt and financial obligations while maintaining dividend growth
- Simplify and focus the portfolio through divestments and asset marketing
- Improve safety performance and invest in technology and cost efficiency
Follow BP with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$50.39Current
$29Low
$43.04Average
$57High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 31, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Hold | Hold | Maintain | Oct 20, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Oct 5, 2026 |
| Wells Fargo | Overweight | Equal Weight | Upgrade | Oct 1, 2026 |
| HSBC | Buy | Hold | Upgrade | Sep 25, 2026 |
| JP Morgan | Overweight | Neutral | Upgrade | Sep 23, 2026 |
| Evercore ISI Group | In Line | Maintain | Sep 16, 2026 | |
| Piper Sandler | Neutral | Neutral | Maintain | Sep 3, 2026 |
| RBC Capital | Outperform | Sector Perform | Upgrade | May 11, 2026 |
| Argus Research | Buy | Hold | Upgrade | May 11, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Apr 22, 2026 |
| UBS | Buy | Neutral | Upgrade | Apr 15, 2026 |
| Freedom Broker | Sell | Hold | Downgrade | Feb 12, 2026 |
| Raymond James | Outperform | Outperform | Maintain | Oct 17, 2025 |
| Exane BNP Paribas | Outperform | Neutral | Upgrade | Sep 15, 2025 |
| Jefferies | Hold | Buy | Downgrade | May 19, 2025 |
| TD Securities | Hold | Buy | Downgrade | Mar 19, 2025 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jan 7, 2025 |
| Redburn Atlantic | Neutral | Buy | Downgrade | Sep 24, 2024 |
| Erste Group | Hold | Buy | Downgrade | Jun 14, 2024 |
| Bernstein | Outperform | Outperform | Maintain | Feb 8, 2023 |
| B of A Securities | Neutral | Underperform | Upgrade | Mar 8, 2022 |
| MKM Partners | Buy | Buy | Maintain | Mar 1, 2022 |
| Berenberg | Buy | Hold | Upgrade | Oct 15, 2021 |
| CFRA | Hold | Buy | Downgrade | Apr 28, 2020 |
| Citigroup | Neutral | Buy | Downgrade | Mar 12, 2020 |
| BMO Capital | Outperform | Outperform | Maintain | Aug 21, 2019 |
| Credit Suisse | Neutral | Outperform | Downgrade | Jul 10, 2019 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| Macquarie | Neutral | Underperform | Upgrade | Apr 26, 2018 |
| Goldman Sachs | Buy | Neutral | Upgrade | Apr 24, 2018 |
| Societe Generale | Buy | Hold | Upgrade | Feb 12, 2018 |
| PiperJaffray | Overweight | Neutral | Upgrade | Aug 7, 2017 |
| Independent Research | Buy | Hold | Upgrade | Dec 1, 2016 |
| CLSA | Outperform | Buy | Maintain | Nov 15, 2016 |
| Nomura | Neutral | Neutral | Maintain | Mar 18, 2016 |
| Bank of America | Underperform | Neutral | Downgrade | Sep 4, 2015 |
| Oppenheimer | Outperform | Outperform | Maintain | Mar 5, 2015 |
| Canaccord Genuity | Hold | Buy | Downgrade | Jan 16, 2015 |
| Deutsche Bank | Buy | Hold | Upgrade | Dec 10, 2014 |
| Simmons & Co. | Neutral | Overweight | Downgrade | Aug 13, 2014 |
| Santander | Hold | Underweight | Upgrade | May 21, 2014 |
| Scotia Howard Weil | Sector Outperform | Sector Perform | Upgrade | Jan 8, 2014 |
| ISI Group | Neutral | Buy | Downgrade | Jul 8, 2013 |
| Investec | Hold | Buy | Downgrade | Apr 12, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $50.39. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| D.A. Davidson | Analyst unavailable | $49 | $48.65 | -2.8% | Oct 20, 2026 |
| Mizuho Securities | Daniel Boyd | $56 | $44.79 | +11.1% | Oct 5, 2026 |
| Wells Fargo | Sam Margolin | $57 | $43.99 | +13.1% | Sep 30, 2026 |
| HSBC | Analyst unavailable | $51.3 | $44.41 | +1.8% | Sep 25, 2026 |
| Piper Sandler | Analyst unavailable | $46 | $43.93 | -8.7% | Sep 3, 2026 |
| Mizuho Securities | Nitin Kumar | $53 | $42.44 | +5.2% | Aug 5, 2026 |
| Wells Fargo | Analyst unavailable | $48 | $42.44 | -4.7% | Aug 5, 2026 |
| Piper Sandler | John Royall | $42 | $43.32 | -16.7% | Jul 23, 2026 |
| Mizuho Securities | Analyst unavailable | $51 | $41.9 | +1.2% | Jul 20, 2026 |
| BNP Paribas | Analyst unavailable | $57 | $47.63 | +13.1% | Apr 17, 2026 |
| Wells Fargo | Analyst unavailable | $54 | $45.9 | +7.2% | Apr 9, 2026 |
| BNP Paribas | Lucas Herrmann | $38.5 | $38.55 | -23.6% | Feb 12, 2026 |
| HSBC | Kim Fustier | $35.1 | $38.55 | -30.3% | Feb 12, 2026 |
| Piper Sandler | Analyst unavailable | $44 | $36.97 | -12.7% | Feb 11, 2026 |
| Melius Research | James West | $31 | $36.97 | -38.5% | Feb 11, 2026 |
| Scotiabank | Analyst unavailable | $41 | $35.43 | -18.6% | Jan 16, 2026 |
| Evercore ISI | Analyst unavailable | $38 | $36.12 | -24.6% | Jan 6, 2026 |
| Wolfe Research | Doug Leggate | $51 | $34.47 | +1.2% | Dec 18, 2025 |
| Raymond James | Justin Jenkins | $38 | $32.98 | -24.6% | Oct 17, 2025 |
| Scotiabank | Analyst unavailable | $43 | $34.48 | -14.7% | Oct 9, 2025 |
| Piper Sandler | Ryan Todd | $38 | $34 | -24.6% | Aug 18, 2025 |
| Jefferies | Giacomo Romeo | $29 | $29.76 | -42.4% | May 19, 2025 |
| Wolfe Research | Doug Leggate | $50 | $31.83 | -0.8% | Jan 14, 2025 |
| Wolfe Research | Doug Leggate | $59 | $34.96 | +17.1% | Jul 30, 2024 |
| Wolfe Research | Doug Leggate | $57 | $35.42 | +13.1% | Jul 17, 2024 |
| Morgan Stanley | Martijn Rats | $41.5 | $35.19 | -17.6% | Jul 15, 2024 |
| Scotiabank | Paul Cheng | $42 | $35.05 | -16.7% | Jul 12, 2024 |
| Piper Sandler | Ryan Todd | $43 | $38.37 | -14.7% | Apr 18, 2024 |
| Scotiabank | Paul Cheng | $47 | $39.42 | -6.7% | Apr 11, 2024 |
| Wells Fargo | Roger Read | $42 | $39.42 | -16.7% | Apr 11, 2024 |
| Piper Sandler | Ryan Todd | $40 | $37.49 | -20.6% | Mar 14, 2024 |
| Jefferies | Giacomo Romeo | $42.3 | $35.64 | -16.1% | Mar 3, 2024 |
| Raymond James | Justin Jenkins | $45 | $36.62 | -10.7% | Jul 13, 2023 |
| Bernstein | Analyst unavailable | $53 | $37.75 | +5.2% | Feb 8, 2023 |
| Raymond James | Analyst unavailable | $40 | $37.75 | -20.6% | Feb 8, 2023 |
| Raymond James | Strong Buy | $40 | $19.18 | -20.6% | Feb 7, 2023 |
| Wells Fargo | Analyst unavailable | $37 | $34.78 | -26.6% | Jan 10, 2023 |
| Piper Sandler | Analyst unavailable | $39 | $33.68 | -22.6% | Dec 19, 2022 |
| Piper Sandler | Analyst unavailable | $40 | $32.95 | -20.6% | Nov 11, 2022 |
| Wells Fargo | Analyst unavailable | $31 | $31.22 | -38.5% | May 4, 2022 |
| Raymond James | John Freeman | $36 | $31.07 | -28.6% | Jan 30, 2022 |
| Jefferies | Jason Gammel | $29.7 | $26.29 | -41.1% | Dec 14, 2021 |
| TD Securities | Menno Hulshof | $31 | $29.08 | -38.5% | Oct 25, 2021 |
| Mizuho Securities | Daniel Boyd | $33 | $26.18 | -34.5% | May 17, 2021 |
Track every rating change on BP the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationBP p.l.c. operates as a global energy company, offering a wide array of carbon-based and sustainable products and services. Its operations are structured across three primary segments: Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products. The Gas & Low Carbon Energy division is responsible for the extraction and integrated generation of natural gas and power. It actively trades gas and both renewable and non-renewable electricity.…
Historical context
All BP earningsEnergy peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| IMO Imperial Oil Limited | FY2026 Q3 · Calendar Q4 2026 | +6.4% | +5.5% | Imperial Oil: downstream strength and low-carbon growth lead Q3 |
| CCJ Cameco Corporation | FY2026 Q3 · Calendar Q4 2026 | -101.4% | -7.9% | Cameco keeps nuclear-growth thesis intact as Key Lake outage weighs |
| CVX Chevron Corporation | FY2026 Q3 · Calendar Q4 2026 | — | +1.8% | Chevron highlights record production, AI value and expansion plans |
| XOM Exxonmobil Holdings Corporation | FY2026 Q3 · Calendar Q4 2026 | — | +1.6% | ExxonMobil emphasizes project execution and shareholder returns |
| FSLR First Solar, Inc. | FY2026 Q3 · Calendar Q4 2026 | +13.5% | -1.4% | First Solar: Margin gains offset lower volume outlook |
| SHEL Shell plc | FY2026 Q3 · Calendar Q4 2026 | +7.2% | +2.4% | Shell pairs strong Q3 with LNG expansion and portfolio deals |
Latest beats and misses
Who reports nextBeat on EPS
Get the BP recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-05T20:14:29.989714+00:00
- FN2 earnings calendar · 2026-09-09T01:23:14.388487+00:00
- Polygon adjusted daily market bars · 2026-10-31T04:50:41.454251+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-31T04:50:41.451322+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-31. For educational purposes only; not investment advice.