BP (NYSE:BP) released its quarterly earnings results on Tuesday. The oil and gas exploration company reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.29, MarketWatch Earnings reports. BP had a return on equity of 9.28% and a net margin of 2.55%. The business had revenue of $79.47 billion during the quarter, compared to analysts’ expectations of $75.31 billion. During the same quarter in the prior year, the business earned $0.09 earnings per share. The company’s quarterly revenue was up 32.4% compared to the same quarter last year.
NYSE:BP traded up $1.40 during trading hours on Wednesday, hitting $43.61. The company’s stock had a trading volume of 840,041 shares, compared to its average volume of 6,466,428. The stock has a market capitalization of $136.69 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 0.67 and a beta of 0.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.80 and a current ratio of 1.10. BP has a 52-week low of $36.15 and a 52-week high of $47.83.
Several research firms have recently commented on BP. Piper Jaffray Companies restated an “overweight” rating on shares of BP in a research note on Tuesday, October 23rd. Redburn Partners upgraded BP from a “neutral” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Wednesday, October 3rd. Berenberg Bank began coverage on BP in a research note on Tuesday, September 11th. They set a “buy” rating for the company. Morgan Stanley upgraded BP from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, September 5th. Finally, Santander upgraded BP from an “underperform” rating to a “hold” rating in a research note on Friday, August 31st. Four investment 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 stock. BP currently has an average rating of “Buy” and an average target price of $53.44.
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).
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