BP (NYSE:BP) Shares Gap Down to $42.34

BP plc (NYSE:BP)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $43.27, but opened at $42.34. BP shares last traded at $41.06, with a volume of 9477278 shares.

A number of equities research analysts have issued reports on BP shares. Royal Bank of Canada lowered shares of BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price on the stock. in a report on Tuesday, April 16th. Deutsche Bank reiterated a “buy” rating on shares of BP in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. BP presently has a consensus rating of “Buy” and a consensus price target of $55.41.

The firm has a market capitalization of $142.10 billion, a PE ratio of 10.81, a P/E/G ratio of 1.74 and a beta of 0.79. The company has a current ratio of 1.02, a quick ratio of 0.72 and a debt-to-equity ratio of 0.61.

BP (NYSE:BP) last released its earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. BP had a net margin of 3.26% and a return on equity of 12.19%. The company had revenue of $66.32 billion for the quarter, compared to analyst estimates of $64.85 billion. During the same period in the prior year, the business earned $0.13 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, research analysts expect that BP plc will post 3.41 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 10th will be given a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date of this dividend is Thursday, May 9th. BP’s dividend payout ratio is presently 64.21%.

Several large investors have recently made changes to their positions in BP. Premia Global Advisors LLC purchased a new position in shares of BP in the 1st quarter valued at $27,000. Perkins Coie Trust Co grew its position in shares of BP by 66.7% in the 1st quarter. Perkins Coie Trust Co now owns 630 shares of the oil and gas exploration company’s stock valued at $28,000 after buying an additional 252 shares during the last quarter. JNBA Financial Advisors purchased a new position in shares of BP in the 4th quarter valued at $29,000. Marino Stram & Associates LLC grew its position in shares of BP by 71.0% in the 1st quarter. Marino Stram & Associates LLC now owns 667 shares of the oil and gas exploration company’s stock valued at $29,000 after buying an additional 277 shares during the last quarter. Finally, Ellis Investment Partners LLC purchased a new position in shares of BP in the 1st quarter valued at $29,000. 11.04% of the stock is currently owned by institutional investors.

WARNING: This piece was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this piece on another site, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://sportsperspectives.com/2019/06/12/bp-nysebp-shares-gap-down-to-42-34.html.

About BP (NYSE:BP)

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).

Featured Article: Cost of Goods Sold (COGS)

Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.