Analysts Issue Forecasts for BP PLC’s Q3 2016 Earnings (BP)
BP PLC (NYSE:BP) – Investment analysts at Jefferies Group issued their Q3 2016 EPS estimates for shares of BP PLC in a report released on Tuesday. Jefferies Group analyst J. Gammel forecasts that the firm will post earnings of $0.18 per share for the quarter. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for BP PLC’s FY2018 earnings at $2.59 EPS.
A number of other equities analysts also recently commented on BP. Citigroup Inc. upgraded BP PLC from a “neutral” rating to a “buy” rating and lifted their target price for the company from $31.15 to $39.00 in a research note on Thursday, June 16th. Vetr upgraded BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.00 target price for the company in a research note on Monday, June 20th. Morgan Stanley upgraded BP PLC from an “equal weight” rating to an “overweight” rating in a research note on Thursday, June 30th. Collins Stewart restated a “buy” rating on shares of BP PLC in a research note on Thursday, June 30th. Finally, Credit Suisse Group AG upgraded BP PLC from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $38.63.
BP PLC (NYSE:BP) traded down 0.14% during midday trading on Thursday, hitting $35.74. The company had a trading volume of 2,816,650 shares. The stock’s market cap is $111.85 billion. BP PLC has a 12-month low of $27.01 and a 12-month high of $37.53. The company’s 50 day moving average is $34.53 and its 200 day moving average is $33.33.
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BP PLC (NYSE:BP) last released its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.05. The firm earned $46.44 billion during the quarter, compared to analyst estimates of $50.22 billion. BP PLC had a positive return on equity of 3.32% and a negative net margin of 2.76%. The business’s revenue was down 25.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Washington Trust Bank raised its position in BP PLC by 165.9% in the second quarter. Washington Trust Bank now owns 3,337 shares of the oil and gas exploration company’s stock valued at $118,000 after buying an additional 2,082 shares during the period. Krilogy Financial LLC boosted its position in BP PLC by 18.8% in the second quarter. Krilogy Financial LLC now owns 3,514 shares of the oil and gas exploration company’s stock valued at $125,000 after buying an additional 555 shares during the last quarter. Farmers National Bank purchased a new position in BP PLC during the second quarter valued at $131,000. Advisory Services Network LLC boosted its position in BP PLC by 121.7% in the third quarter. Advisory Services Network LLC now owns 3,860 shares of the oil and gas exploration company’s stock valued at $136,000 after buying an additional 2,119 shares during the last quarter. Finally, Kistler Tiffany Companies LLC boosted its position in BP PLC by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 4,116 shares of the oil and gas exploration company’s stock valued at $146,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 12.06% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 5th were given a $0.595 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $2.38 annualized dividend and a yield of 6.65%. BP PLC’s dividend payout ratio (DPR) is -139.18%.
BP PLC Company Profile
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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