BP plc (BP) Expected to Post Earnings of $0.93 Per Share

Equities analysts predict that BP plc (NYSE:BP) will announce earnings per share of $0.93 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for BP’s earnings, with the highest EPS estimate coming in at $0.97 and the lowest estimate coming in at $0.88. BP posted earnings per share of $0.64 in the same quarter last year, which indicates a positive year-over-year growth rate of 45.3%. The business is expected to announce its next earnings results on Tuesday, February 5th.

According to Zacks, analysts expect that BP will report full year earnings of $3.56 per share for the current fiscal year, with EPS estimates ranging from $3.30 to $3.80. For the next financial year, analysts anticipate that the company will post earnings of $3.90 per share, with EPS estimates ranging from $3.21 to $4.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that that provide coverage for BP.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, October 30th. The oil and gas exploration company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.29. BP had a return on equity of 11.14% and a net margin of 2.91%. The firm had revenue of $79.47 billion during the quarter, compared to analyst estimates of $75.31 billion. During the same quarter last year, the firm earned $0.09 EPS. BP’s quarterly revenue was up 32.4% on a year-over-year basis.

Several brokerages have recently commented on BP. Zacks Investment Research upgraded BP from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a research report on Tuesday, July 10th. Piper Jaffray Companies reiterated an “overweight” rating on shares of BP in a research report on Tuesday, October 23rd. Berenberg Bank began coverage on BP in a research report on Tuesday, September 11th. They issued a “buy” rating for the company. ValuEngine lowered BP from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. Finally, Redburn Partners upgraded BP from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Wednesday, October 3rd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $54.22.

NYSE BP traded up $0.37 during mid-day trading on Friday, reaching $43.03. 363,656 shares of the company’s stock traded hands, compared to its average volume of 7,293,798. The firm has a market cap of $138.35 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 0.66 and a beta of 0.85. The company has a quick ratio of 0.91, a current ratio of 1.22 and a debt-to-equity ratio of 0.53. BP has a 1-year low of $36.15 and a 1-year high of $47.83.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, November 9th will be issued a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 5.72%. The ex-dividend date of this dividend is Thursday, November 8th. BP’s dividend payout ratio (DPR) is 129.79%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Squar Milner Financial Services LLC lifted its holdings in shares of BP by 250.4% in the 3rd quarter. Squar Milner Financial Services LLC now owns 2,835 shares of the oil and gas exploration company’s stock worth $131,000 after purchasing an additional 2,026 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of BP by 1,375.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,950 shares of the oil and gas exploration company’s stock worth $135,000 after purchasing an additional 2,750 shares during the last quarter. Clarus Wealth Advisors bought a new stake in shares of BP in the 2nd quarter worth approximately $165,000. Destination Wealth Management lifted its holdings in shares of BP by 2,782.4% in the 2nd quarter. Destination Wealth Management now owns 4,093 shares of the oil and gas exploration company’s stock worth $187,000 after purchasing an additional 3,951 shares during the last quarter. Finally, Wall Street Access Asset Management LLC bought a new stake in shares of BP in the 3rd quarter worth approximately $201,000. 10.93% of the stock is currently owned by institutional investors and hedge funds.

BP Company Profile

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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