BP (NYSE:BP) Issues Earnings Results

BP (NYSE:BP) posted its earnings results on Tuesday. The oil and gas exploration company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06), Briefing.com reports. BP had a net margin of 7.15% and a return on equity of 16.00%. The firm had revenue of $48.88 billion during the quarter, compared to the consensus estimate of $53.65 billion. During the same quarter last year, the firm posted $1.66 EPS. The business’s revenue was down 13.0% on a year-over-year basis.

BP Trading Up 0.8 %

BP stock opened at $37.84 on Thursday. The company has a market cap of $106.56 billion, a price-to-earnings ratio of 7.37, a P/E/G ratio of 2.65 and a beta of 0.67. The firm has a 50-day moving average of $37.97 and a 200-day moving average of $36.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.94. BP has a one year low of $33.52 and a one year high of $40.84.

BP Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 17th will be given a $0.4362 dividend. This represents a $1.74 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Thursday, May 16th. BP’s dividend payout ratio (DPR) is currently 33.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BP shares. Erste Group Bank upgraded shares of BP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Piper Sandler boosted their price objective on shares of BP from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. Jefferies Financial Group upgraded shares of BP from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $38.60 to $42.30 in a research report on Monday, March 4th. Scotiabank lifted their target price on shares of BP from $45.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, TD Securities lifted their target price on shares of BP from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $43.88.

About BP

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.