BP (NYSE:BP) Announces Earnings Results

BP (NYSE:BP) announced its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06), Briefing.com reports. The firm had revenue of $48.88 billion for the quarter, compared to analyst estimates of $53.65 billion. BP had a net margin of 7.15% and a return on equity of 16.00%. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.66 earnings per share.

BP Stock Performance

Shares of BP traded down $0.05 during mid-day trading on Wednesday, hitting $37.53. The stock had a trading volume of 3,389,242 shares, compared to its average volume of 9,575,148. BP has a 52 week low of $33.52 and a 52 week high of $40.84. The business has a fifty day moving average price of $37.97 and a 200-day moving average price of $36.45. The firm has a market cap of $105.69 billion, a P/E ratio of 7.38, a PEG ratio of 2.65 and a beta of 0.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.94.

Analysts Set New Price Targets

BP has been the subject of several recent research reports. TD Securities increased their price target on BP from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Scotiabank boosted their price target on shares of BP from $45.00 to $47.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Erste Group Bank upgraded shares of BP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group raised shares of BP from a “hold” rating to a “buy” rating and upped their price target for the company from $38.60 to $42.30 in a research report on Monday, March 4th. Finally, Piper Sandler upped their target price on BP from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, BP has a consensus rating of “Moderate Buy” and an average target price of $43.72.

BP Company Profile

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.