We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
BP Halts Red Sea Voyages Amid Rising Geopolitical Tensions
Read MoreHide Full Article
BP plc (BP - Free Report) announced the temporary suspension of its shipping operations through the Red Sea. The decision came amid escalating tensions in the region, prompting several major companies to reevaluate their navigation routes.
On Monday, BP stated that it will keep this precautionary pause under ongoing review, subject to evolving circumstances in the region. The safety and security of people and those working on BP’s behalf is its priority.
The Red Sea, a vital maritime route connecting Europe to the Middle East through the Suez Canal, has witnessed increased geopolitical tensions in recent times, prompting companies to reassess the risks associated with navigating through the region.
According to a statement released by Inventor Chemical Tankers, a Norwegian vessel sailing south in the Red Sea was hit by an unidentified object on Monday. The statement assured that there were no injuries to the Indian crew members, and the vessel sustained only limited damage. The ship is currently navigating under its own power, with all systems reported as operational.
The decision to temporarily halt all tanker transits through the Red Sea by BP comes amid a broader context of shifting investment risks as the world enters 2024. After facing challenges such as the COVID-19 pandemic in 2020, supply-chain disruptions in 2021, inflation in 2022 and fluctuating interest rates in 2023, the focus now turns toward the growing geopolitical landscape.
The Williams Companies is well-positioned to capitalize on the anticipated substantial long-term growth in U.S. natural gas demand, thanks to its impressive portfolio of large-scale projects that create significant value. The company’s debt maturity profile is in good shape with its $4.5-billion revolver maturing in fiscal 2023.
WMB’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.68%.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.
Liberty Energy is a North American provider of hydraulic fracturing services to upstream energy operators. The company’s multi-basin presence offers an attractive upside opportunity compared with most of its peers. Its strong relationship with high-quality customers provides revenue visibility and business certainty.
LBRT’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 9.88%.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
BP Halts Red Sea Voyages Amid Rising Geopolitical Tensions
BP plc (BP - Free Report) announced the temporary suspension of its shipping operations through the Red Sea. The decision came amid escalating tensions in the region, prompting several major companies to reevaluate their navigation routes.
On Monday, BP stated that it will keep this precautionary pause under ongoing review, subject to evolving circumstances in the region. The safety and security of people and those working on BP’s behalf is its priority.
The Red Sea, a vital maritime route connecting Europe to the Middle East through the Suez Canal, has witnessed increased geopolitical tensions in recent times, prompting companies to reassess the risks associated with navigating through the region.
According to a statement released by Inventor Chemical Tankers, a Norwegian vessel sailing south in the Red Sea was hit by an unidentified object on Monday. The statement assured that there were no injuries to the Indian crew members, and the vessel sustained only limited damage. The ship is currently navigating under its own power, with all systems reported as operational.
The decision to temporarily halt all tanker transits through the Red Sea by BP comes amid a broader context of shifting investment risks as the world enters 2024. After facing challenges such as the COVID-19 pandemic in 2020, supply-chain disruptions in 2021, inflation in 2022 and fluctuating interest rates in 2023, the focus now turns toward the growing geopolitical landscape.
Zacks Rank & Key Picks
BP currently carries a Zack Rank #3 (Hold).
Some better-ranked stocks in the energy sector are The Williams Companies, Inc. (WMB - Free Report) , Sunoco LP (SUN - Free Report) and Liberty Energy Inc. (LBRT - Free Report) . While both The Williams Companies and Sunoco sport a Zacks Rank #1 (Strong Buy), Liberty Energy carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Williams Companies is well-positioned to capitalize on the anticipated substantial long-term growth in U.S. natural gas demand, thanks to its impressive portfolio of large-scale projects that create significant value. The company’s debt maturity profile is in good shape with its $4.5-billion revolver maturing in fiscal 2023.
WMB’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.68%.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.
Liberty Energy is a North American provider of hydraulic fracturing services to upstream energy operators. The company’s multi-basin presence offers an attractive upside opportunity compared with most of its peers. Its strong relationship with high-quality customers provides revenue visibility and business certainty.
LBRT’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 9.88%.