BP (NYSE:BP) Announces Quarterly Earnings Results

BP (NYSE:BP) announced its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.78 by $0.05, Briefing.com reports. BP had a net margin of 1.36% and a return on equity of 12.91%. The firm had revenue of $47.25 billion during the quarter, compared to the consensus estimate of $52.05 billion. During the same period last year, the firm earned $1.15 EPS. The business’s quarterly revenue was down 11.3% compared to the same quarter last year.

BP Stock Up 0.4 %

Shares of BP stock traded up $0.13 during trading hours on Friday, reaching $29.49. 2,381,734 shares of the company’s stock were exchanged, compared to its average volume of 8,416,512. The stock’s fifty day moving average price is $32.08 and its two-hundred day moving average price is $34.75. The stock has a market cap of $79.99 billion, a PE ratio of 30.91, a PEG ratio of 1.95 and a beta of 0.64. The company has a current ratio of 1.22, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. BP has a 1 year low of $29.00 and a 1 year high of $40.40.

BP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 8th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.92 annualized dividend and a yield of 6.51%. BP’s dividend payout ratio (DPR) is 200.00%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BP shares. Wells Fargo & Company decreased their price objective on BP from $35.00 to $33.00 and set an “equal weight” rating on the stock in a report on Wednesday. Argus upgraded shares of BP to a “hold” rating in a report on Thursday, August 1st. UBS Group upgraded shares of BP to a “strong-buy” rating in a research report on Tuesday, July 30th. Barclays upgraded shares of BP to a “strong-buy” rating in a research report on Wednesday, July 31st. Finally, Redburn Atlantic lowered BP from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.73.

BP Company Profile

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.