BP p.l.c. (NYSE:BP - Free Report) - Equities research analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for BP in a note issued to investors on Friday, January 17th. Zacks Research analyst R. Department now anticipates that the oil and gas exploration company will earn $3.43 per share for the year, down from their previous estimate of $3.45. The consensus estimate for BP's current full-year earnings is $3.45 per share. Zacks Research also issued estimates for BP's Q4 2024 earnings at $0.63 EPS, Q1 2025 earnings at $0.71 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.99 EPS, Q4 2025 earnings at $0.95 EPS and FY2025 earnings at $3.54 EPS.
Several other brokerages also recently commented on BP. StockNews.com upgraded shares of BP from a "hold" rating to a "buy" rating in a research report on Friday, January 10th. BNP Paribas downgraded BP from an "outperform" rating to a "neutral" rating in a report on Wednesday, October 9th. Redburn Atlantic downgraded BP from a "buy" rating to a "neutral" rating in a research note on Tuesday, September 24th. Wells Fargo & Company lowered their target price on BP from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada reissued a "sector perform" rating on shares of BP in a research report on Tuesday, January 14th. Eleven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, BP currently has an average rating of "Moderate Buy" and a consensus price target of $38.76.
View Our Latest Report on BP
BP Trading Down 0.3 %
BP stock traded down $0.08 during mid-day trading on Monday, reaching $31.70. 11,800,313 shares of the stock traded hands, compared to its average volume of 7,407,338. BP has a 52-week low of $27.82 and a 52-week high of $40.40. The stock's fifty day moving average is $29.65 and its 200-day moving average is $31.76. The company has a market cap of $84.70 billion, a P/E ratio of 33.37, a P/E/G ratio of 2.20 and a beta of 0.64. 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 - Get Free Report) last announced its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) 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 company had revenue of $47.25 billion for the quarter, compared to analyst estimates of $52.05 billion. During the same period in the previous year, the firm earned $1.15 earnings per share. BP's revenue for the quarter was down 11.3% compared to the same quarter last year.
BP Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 8th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, November 8th. This represents a $1.92 annualized dividend and a yield of 6.06%. BP's dividend payout ratio (DPR) is currently 200.00%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in BP by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 29,235 shares of the oil and gas exploration company's stock worth $1,055,000 after acquiring an additional 571 shares during the period. Bridges Investment Management Inc. increased its stake in shares of BP by 20.2% in the second quarter. Bridges Investment Management Inc. now owns 8,638 shares of the oil and gas exploration company's stock worth $312,000 after purchasing an additional 1,450 shares during the period. Gabelli Funds LLC lifted its position in shares of BP by 2.2% during the 2nd quarter. Gabelli Funds LLC now owns 360,050 shares of the oil and gas exploration company's stock worth $12,998,000 after purchasing an additional 7,850 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in BP by 3.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 15,087 shares of the oil and gas exploration company's stock valued at $534,000 after buying an additional 498 shares during the last quarter. Finally, Magnolia Capital Advisors LLC bought a new position in BP in the 2nd quarter worth approximately $237,000. 11.01% of the stock is owned by institutional investors.
About BP
(
Get Free Report)
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.
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