BP plc (NYSE:BP) announced a quarterly dividend on Wednesday, February 7th, Wall Street Journal reports. Stockholders of record on Friday, February 16th will be given a dividend of 0.60 per share by the oil and gas exploration company on Thursday, March 29th. This represents a $2.40 annualized dividend and a dividend yield of 5.95%. The ex-dividend date of this dividend is Thursday, February 15th.
BP has increased its dividend payment by an average of 0.6% per year over the last three years. BP has a payout ratio of 130.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect BP to earn $2.72 per share next year, which means the company should continue to be able to cover its $2.38 annual dividend with an expected future payout ratio of 87.5%.
BP (BP) traded up $0.68 during trading on Wednesday, hitting $40.37. 7,119,346 shares of the stock traded hands, compared to its average volume of 6,760,000. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86 and a current ratio of 1.16. BP has a twelve month low of $33.10 and a twelve month high of $44.62. The stock has a market cap of $133,490.00, a PE ratio of 39.19, a price-to-earnings-growth ratio of 0.76 and a beta of 0.92.
BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 6th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). BP had a return on equity of 6.19% and a net margin of 1.39%. The company had revenue of $67.82 billion during the quarter, compared to analyst estimates of $56.85 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. The business’s revenue was up 33.0% compared to the same quarter last year. research analysts forecast that BP will post 2.81 earnings per share for the current year.
Several equities analysts have recently commented on BP shares. Cowen restated a “hold” rating and issued a $39.00 price objective on shares of BP in a report on Tuesday, October 24th. Vetr lowered shares of BP from a “buy” rating to a “hold” rating and set a $40.67 target price on the stock. in a report on Monday, October 30th. Evercore ISI increased their target price on shares of BP from $43.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, November 1st. Scotiabank reiterated a “buy” rating and set a $39.00 target price on shares of BP in a report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded shares of BP from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Tuesday, November 7th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $40.05.
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BP Company Profile
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.
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