Zacks: Analysts Expect BP plc (BP) to Announce $0.87 Earnings Per Share

Wall Street analysts expect BP plc (NYSE:BP) to announce $0.87 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for BP’s earnings. BP posted earnings per share of $0.21 during the same quarter last year, which indicates a positive year over year growth rate of 314.3%. The firm is expected to issue its next earnings results on Tuesday, August 7th.

On average, analysts expect that BP will report full year earnings of $3.34 per share for the current year, with EPS estimates ranging from $3.04 to $3.95. For the next financial year, analysts anticipate that the company will post earnings of $3.42 per share, with EPS estimates ranging from $3.06 to $4.21. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover BP.

BP (NYSE:BP) last announced its earnings results on Tuesday, May 1st. The oil and gas exploration company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.11. BP had a return on equity of 7.22% and a net margin of 1.71%. The business had revenue of $68.17 billion for the quarter, compared to analyst estimates of $69.40 billion. During the same period in the previous year, the company earned $0.08 earnings per share. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year.

A number of analysts have recently issued reports on the company. Vetr lowered BP from a “strong-buy” rating to a “buy” rating and set a $44.43 target price on the stock. in a research report on Monday, March 12th. TheStreet raised BP from a “c+” rating to a “b-” rating in a research report on Monday, May 21st. Zacks Investment Research raised BP from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a report on Friday, May 4th. Macquarie raised BP from an “underperform” rating to a “neutral” rating in a report on Thursday, April 26th. Finally, Citigroup raised BP from a “neutral” rating to a “buy” rating in a report on Thursday, March 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $44.54.

A number of institutional investors have recently made changes to their positions in the stock. Shoker Investment Counsel Inc. boosted its stake in BP by 4.2% in the first quarter. Shoker Investment Counsel Inc. now owns 26,689 shares of the oil and gas exploration company’s stock valued at $1,082,000 after acquiring an additional 1,088 shares during the period. Cetera Advisor Networks LLC boosted its stake in BP by 2.2% in the first quarter. Cetera Advisor Networks LLC now owns 50,929 shares of the oil and gas exploration company’s stock valued at $2,056,000 after acquiring an additional 1,113 shares during the period. Arvest Bank Trust Division boosted its stake in BP by 14.8% in the first quarter. Arvest Bank Trust Division now owns 8,780 shares of the oil and gas exploration company’s stock valued at $356,000 after acquiring an additional 1,135 shares during the period. Wilkins Investment Counsel Inc. boosted its stake in BP by 0.4% in the first quarter. Wilkins Investment Counsel Inc. now owns 263,418 shares of the oil and gas exploration company’s stock valued at $10,679,000 after acquiring an additional 1,160 shares during the period. Finally, Cahill Financial Advisors Inc. boosted its stake in BP by 6.5% in the first quarter. Cahill Financial Advisors Inc. now owns 20,980 shares of the oil and gas exploration company’s stock valued at $851,000 after acquiring an additional 1,285 shares during the period. 10.23% of the stock is owned by hedge funds and other institutional investors.

Shares of BP traded down $0.46, reaching $45.20, during midday trading on Wednesday, according to Marketbeat Ratings. 4,124,574 shares of the company’s stock were exchanged, compared to its average volume of 6,343,625. BP has a 52-week low of $33.90 and a 52-week high of $47.83. The firm has a market cap of $151.86 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 0.79 and a beta of 0.89. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.81 and a current ratio of 1.13.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 22nd. Investors of record on Friday, May 11th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 5.31%. The ex-dividend date of this dividend was Thursday, May 10th. BP’s dividend payout ratio is currently 126.60%.

About 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).

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