BP (NYSE:BP) Issues Earnings Results

BP (NYSE:BP) released its earnings results on Tuesday. The oil and gas exploration company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08, Briefing.com reports. The firm had revenue of $47.30 billion for the quarter, compared to the consensus estimate of $55.82 billion. BP had a net margin of 3.60% and a return on equity of 13.67%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS.

BP Trading Down 1.8 %

NYSE:BP traded down $0.63 on Thursday, hitting $34.76. 6,987,873 shares of the stock were exchanged, compared to its average volume of 8,620,320. BP has a fifty-two week low of $33.52 and a fifty-two week high of $40.84. The stock has a fifty day moving average of $35.78 and a 200-day moving average of $36.56. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57. The stock has a market cap of $96.29 billion, a PE ratio of 11.09, a PEG ratio of 2.05 and a beta of 0.65.

BP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 9th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.52%. This is a boost from BP’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, August 9th. BP’s payout ratio is 53.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BP shares. Wolfe Research assumed coverage on shares of BP in a report on Thursday, July 18th. They set an “outperform” rating and a $57.00 price objective for the company. Scotiabank reduced their target price on shares of BP from $47.00 to $42.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. TD Securities upped their target price on BP from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Erste Group Bank reiterated a “hold” rating on shares of BP in a research report on Friday, June 14th. Finally, Raymond James upped their price objective on BP from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.23.

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.