BP (NYSE:BP) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

BP (NYSE:BP) issued its quarterly earnings data on Tuesday. The oil and gas exploration company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.05, Briefing.com reports. The company had revenue of $47.25 billion during the quarter, compared to analyst estimates of $52.05 billion. BP had a return on equity of 13.83% and a net margin of 3.60%. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 earnings per share.

BP Trading Up 0.4 %

NYSE:BP opened at $29.15 on Thursday. BP has a 12-month low of $29.00 and a 12-month high of $40.40. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm has a market cap of $79.07 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 4.25 and a beta of 0.64. The stock has a fifty day moving average price of $32.16 and a 200 day moving average price of $34.79.

BP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 8th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.92 dividend on an annualized basis and a yield of 6.59%. BP’s dividend payout ratio (DPR) is presently 74.80%.

Analyst Ratings Changes

Several research analysts recently weighed in on BP shares. BNP Paribas lowered BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley lowered BP from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $49.90 to $41.50 in a research report on Monday, July 15th. Redburn Atlantic lowered BP from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 24th. StockNews.com upgraded BP from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Barclays upgraded BP to a “strong-buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, BP presently has an average rating of “Moderate Buy” and a consensus price target of $42.73.

About BP

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.