BP ( BP ) formed a three-week-tight pattern after the stock ran up following its latest earnings report that showed record profit in 2022. The global energy stock is Thursday’s IBD 50 Stocks To Watch pick. London-based BP finds and develops hydrocarbon resources, and operates oil and gas production assets, refineries, pipelines and terminals around the world. Their brands include BP, Amoco, Castrol, Aral, AmPm and Wild Bean Cafe. The energy stock holds the No. 2 spot out of 20 stocks in the integrated oil & gas industry group. The group ranks a midway No. 108 out of 197 IBD groups. Ideally the CAN SLIM investing strategy looks for stocks in the upper 40 ranking. BP Future Focus Shifts BP plans on cutting back on its push into renewable energy, due to lower returns on the business, and focusing more on its oil and gas operations. The company got caught by surprise on hearing that 3% of a London parking lot is electric. "We predicted that would happen in the middle of the decade. It’s happened already," Bernard Looney, BP’s CEO, said last week. Brazil’s Petrobras and BP currently collaborate on oil production off the Brazilian coast, which could […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
