BP (BP) to Release Quarterly Earnings on Tuesday

BP (NYSE:BP - Get Free Report) is scheduled to be releasing its earnings data before the market opens on Tuesday, October 29th. Analysts expect BP to post earnings of $0.78 per share for the quarter.

BP (NYSE:BP - Get Free Report) last announced its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.08. The firm had revenue of $47.30 billion during the quarter, compared to analysts' expectations of $55.82 billion. BP had a return on equity of 13.83% and a net margin of 3.60%. The company's revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. On average, analysts expect BP to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

BP Stock Performance

Shares of NYSE BP traded up $0.12 during trading hours on Tuesday, hitting $31.59. 4,389,726 shares of the stock were exchanged, compared to its average volume of 8,325,325. The firm has a market capitalization of $87.49 billion, a P/E ratio of 9.90, a P/E/G ratio of 4.25 and a beta of 0.64. BP has a one year low of $30.52 and a one year high of $40.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.24 and a quick ratio of 0.95. The company's 50 day moving average is $32.55 and its 200 day moving average is $35.12.

BP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 9th were given a $0.48 dividend. This is an increase from BP's previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a dividend yield of 6.08%. The ex-dividend date of this dividend was Friday, August 9th. BP's dividend payout ratio (DPR) is currently 59.56%.

Wall Street Analyst Weigh In

BP has been the topic of a number of research analyst reports. Hsbc Global Res raised BP to a "hold" rating in a report on Thursday, August 8th. The Goldman Sachs Group upgraded shares of BP to a "strong-buy" rating in a research note on Friday, October 11th. Wolfe Research started coverage on shares of BP in a research report on Thursday, July 18th. They issued an "outperform" rating and a $57.00 price target on the stock. Barclays upgraded shares of BP to a "strong-buy" rating in a research note on Wednesday, July 31st. Finally, Evercore ISI raised BP to a "strong-buy" rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, BP presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.98.

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.