BP p.l.c. (NYSE:BP - Free Report) - Analysts at Zacks Research decreased their FY2024 EPS estimates for BP in a research note issued on Thursday, December 19th. Zacks Research analyst R. Department now anticipates that the oil and gas exploration company will post earnings per share of $3.45 for the year, down from their prior forecast of $3.53. The consensus estimate for BP's current full-year earnings is $3.55 per share. Zacks Research also issued estimates for BP's Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.80 EPS, Q3 2025 earnings at $1.04 EPS and FY2025 earnings at $3.80 EPS.
BP has been the topic of several other reports. StockNews.com upgraded shares of BP from a "hold" rating to a "buy" rating in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their price objective on BP from $33.00 to $31.00 and set an "equal weight" rating for the company in a research report on Monday, December 9th. Scotiabank cut BP from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the company from $42.00 to $36.00 in a research report on Thursday, October 10th. Redburn Atlantic lowered BP from a "buy" rating to a "neutral" rating in a research report on Tuesday, September 24th. Finally, Piper Sandler lowered their price target on BP from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating, five have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, BP presently has an average rating of "Moderate Buy" and a consensus price target of $41.10.
Read Our Latest Report on BP
BP Stock Performance
BP stock traded up $0.15 during mid-day trading on Monday, reaching $28.75. The company had a trading volume of 6,911,151 shares, compared to its average volume of 8,733,518. The stock's 50-day simple moving average is $29.73 and its two-hundred day simple moving average is $32.53. The stock has a market capitalization of $76.82 billion, a P/E ratio of 30.26, a P/E/G ratio of 2.13 and a beta of 0.64. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. BP has a one year low of $27.82 and a one year high of $40.40.
BP (NYSE:BP - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.05. The business had revenue of $47.25 billion for the quarter, compared to the consensus estimate of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The business's revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the business posted $1.15 EPS.
BP Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 8th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.92 annualized dividend and a yield of 6.68%. BP's dividend payout ratio (DPR) is 200.00%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Altrius Capital Management Inc grew its holdings in shares of BP by 9.9% in the 3rd quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company's stock worth $7,338,000 after acquiring an additional 20,976 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in BP during the 3rd quarter worth about $857,000. Rothschild Investment LLC acquired a new position in shares of BP in the second quarter worth about $2,620,000. Kornitzer Capital Management Inc. KS increased its position in shares of BP by 4.6% in the second quarter. Kornitzer Capital Management Inc. KS now owns 431,655 shares of the oil and gas exploration company's stock worth $15,583,000 after acquiring an additional 19,140 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its holdings in shares of BP by 25.3% during the second quarter. Arkadios Wealth Advisors now owns 51,513 shares of the oil and gas exploration company's stock valued at $1,860,000 after acquiring an additional 10,385 shares during the period. Institutional investors own 11.01% of the company's stock.
About BP
(
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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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