This segment is from Tuesday's edition of "Digging for Value," in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy and materials sectors @TMFEnergy.

With third quarter earnings under way, it's a fantastic time to take advantage of market over and under reactions. BP (BP -0.16%) yesterday announced strong earnings, and the stock price reacted strongly to the outperformance. In this edition Motley Fool analyst Joel South discusses BP and tells investors what he thinks of the stock going forward.