BP plc (NYSE:BP) – Piper Jaffray Companies reduced their Q2 2019 earnings per share (EPS) estimates for BP in a report released on Monday, February 11th. Piper Jaffray Companies analyst B. Fernandez now anticipates that the oil and gas exploration company will post earnings of $0.75 per share for the quarter, down from their previous forecast of $0.76. Piper Jaffray Companies currently has a “Overweight” rating on the stock.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of BP from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Monday, November 19th. Wells Fargo & Co began coverage on shares of BP in a research report on Tuesday, December 18th. They set a “market perform” rating and a $41.00 target price on the stock. Finally, Raymond James upgraded shares of BP from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 20th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $51.79.
BP stock opened at $42.21 on Tuesday. The stock has a market capitalization of $142.05 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.84 and a beta of 0.82. The company has a current ratio of 1.04, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56. BP has a twelve month low of $36.28 and a twelve month high of $47.83.
BP (NYSE:BP) last released its quarterly earnings results on Tuesday, February 5th. The oil and gas exploration company reported $1.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.27. The firm had revenue of $75.68 billion for the quarter, compared to analysts’ expectations of $78.78 billion. BP had a net margin of 3.09% and a return on equity of 12.45%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS.
Large investors have recently made changes to their positions in the business. FMR LLC boosted its position in shares of BP by 88.5% during the 2nd quarter. FMR LLC now owns 16,103,626 shares of the oil and gas exploration company’s stock worth $735,292,000 after acquiring an additional 7,562,842 shares in the last quarter. Cookson Peirce & Co. Inc. boosted its position in shares of BP by 13.5% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 11,865 shares of the oil and gas exploration company’s stock worth $547,000 after acquiring an additional 1,410 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of BP during the 3rd quarter worth approximately $661,000. Allianz Life Insurance Co. of North America acquired a new stake in shares of BP during the 3rd quarter worth approximately $203,000. Finally, First American Bank acquired a new stake in shares of BP during the 3rd quarter worth approximately $3,295,000. Hedge funds and other institutional investors own 11.09% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, February 15th will be given a dividend of $0.615 per share. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.83%. BP’s payout ratio is presently 64.21%.
BP Company Profile
BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
Further Reading: Return on Equity (ROE)
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