BP (BP) Announces Quarterly Earnings Results

BP (NYSE:BP) announced its earnings results on Tuesday. The oil and gas exploration company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02), Morningstar.com reports. The company had revenue of $67.82 billion for the quarter, compared to analyst estimates of $56.85 billion. BP had a return on equity of 6.21% and a net margin of 1.39%. The business’s quarterly revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share.

BP (NYSE:BP) traded up $0.50 during mid-day trading on Thursday, reaching $40.50. The company had a trading volume of 2,000,501 shares, compared to its average volume of 6,405,390. The firm has a market capitalization of $136,710.00, a P/E ratio of 39.32, a PEG ratio of 0.81 and a beta of 0.92. BP has a fifty-two week low of $33.10 and a fifty-two week high of $44.62. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.18.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Friday, February 16th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date is Thursday, February 15th. BP’s dividend payout ratio (DPR) is presently 231.07%.

A number of hedge funds have recently bought and sold shares of BP. Simmons Bank raised its stake in BP by 32.7% in the second quarter. Simmons Bank now owns 21,835 shares of the oil and gas exploration company’s stock valued at $757,000 after purchasing an additional 5,380 shares in the last quarter. Highlander Capital Management LLC raised its stake in BP by 25.6% during the second quarter. Highlander Capital Management LLC now owns 7,350 shares of the oil and gas exploration company’s stock worth $257,000 after acquiring an additional 1,500 shares in the last quarter. Stonebridge Capital Advisors LLC raised its stake in BP by 7.4% during the second quarter. Stonebridge Capital Advisors LLC now owns 67,794 shares of the oil and gas exploration company’s stock worth $2,349,000 after acquiring an additional 4,677 shares in the last quarter. Financial Partners Capital Management LLC raised its stake in BP by 5.6% during the second quarter. Financial Partners Capital Management LLC now owns 170,146 shares of the oil and gas exploration company’s stock worth $5,896,000 after acquiring an additional 9,052 shares in the last quarter. Finally, Beaton Management Co. Inc. acquired a new position in BP during the second quarter worth about $211,000. 9.99% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on BP shares. Zacks Investment Research upgraded shares of BP from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Tuesday, November 7th. Vetr raised shares of BP from a “hold” rating to a “buy” rating and set a $40.48 price objective for the company in a research report on Friday, November 17th. Evercore ISI boosted their target price on shares of BP from $43.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, November 1st. Cowen reissued a “hold” rating and issued a $39.00 target price on shares of BP in a research report on Tuesday, October 24th. Finally, TheStreet raised shares of BP from a “c” rating to a “b” rating in a research report on Wednesday, November 8th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.05.

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About BP

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

Earnings History for BP (NYSE:BP)

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