What is Zacks Research’s Estimate for BP FY2024 Earnings?

BP p.l.c. (NYSE:BP) – Analysts at Zacks Research decreased their FY2024 earnings estimates for BP in a research note issued on Monday, November 18th. Zacks Research analyst R. Department now anticipates that the oil and gas exploration company will post earnings per share of $3.53 for the year, down from their prior forecast of $3.60. The consensus estimate for BP’s current full-year earnings is $3.68 per share. Zacks Research also issued estimates for BP’s Q4 2024 earnings at $0.73 EPS, Q1 2025 earnings at $0.83 EPS, Q4 2025 earnings at $1.07 EPS, Q1 2026 earnings at $0.92 EPS, Q2 2026 earnings at $0.95 EPS and FY2026 earnings at $4.14 EPS.

BP has been the topic of several other reports. BNP Paribas downgraded shares of BP from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 9th. HSBC downgraded shares of BP from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Royal Bank of Canada lowered BP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 7th. Redburn Atlantic lowered BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. Finally, StockNews.com upgraded shares of BP from a “hold” rating to a “buy” rating in a research note on Tuesday, November 5th. Eleven investment analysts have rated the stock with a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, BP has a consensus rating of “Moderate Buy” and a consensus price target of $42.73.

BP Stock Down 1.2 %

BP opened at $29.08 on Wednesday. The stock’s fifty day simple moving average is $31.05 and its 200 day simple moving average is $33.81. BP has a 1-year low of $27.82 and a 1-year high of $40.40. The stock has a market cap of $7.87 billion, a PE ratio of 30.61, a price-to-earnings-growth ratio of 1.97 and a beta of 0.65. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. BP had a return on equity of 12.91% and a net margin of 1.36%. The firm had revenue of $47.25 billion for the quarter, compared to the consensus estimate of $52.05 billion. During the same quarter in the previous year, the business earned $1.15 earnings per share. The business’s revenue was down 11.3% compared to the same quarter last year.

Institutional Trading of BP

A number of institutional investors have recently bought and sold shares of the company. Wedge Capital Management L L P NC raised its holdings in shares of BP by 2.6% during the third quarter. Wedge Capital Management L L P NC now owns 646,102 shares of the oil and gas exploration company’s stock valued at $20,281,000 after purchasing an additional 16,534 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in shares of BP by 5.4% during the third quarter. Kornitzer Capital Management Inc. KS now owns 454,980 shares of the oil and gas exploration company’s stock valued at $14,282,000 after acquiring an additional 23,325 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of BP by 1.2% in the 3rd quarter. Captrust Financial Advisors now owns 440,973 shares of the oil and gas exploration company’s stock worth $13,842,000 after purchasing an additional 5,150 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in BP by 3.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 429,773 shares of the oil and gas exploration company’s stock worth $15,515,000 after buying an additional 13,984 shares during the last quarter. Finally, Gabelli Funds LLC grew its holdings in shares of BP by 2.2% during the second quarter. Gabelli Funds LLC now owns 360,050 shares of the oil and gas exploration company’s stock valued at $12,998,000 after buying an additional 7,850 shares during the last quarter. Institutional investors own 11.01% of the company’s stock.

BP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 8th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 6.60%. The ex-dividend date is Friday, November 8th. BP’s dividend payout ratio (DPR) is presently 200.00%.

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.