BP (NYSE:BP) Issues Quarterly Earnings Results

BP (NYSE:BP) posted its earnings results on Tuesday. The oil and gas exploration company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08, Briefing.com reports. BP had a return on equity of 13.67% and a net margin of 3.60%. The company had revenue of $47.30 billion during the quarter, compared to the consensus estimate of $55.82 billion. During the same quarter last year, the firm earned $0.89 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis.

BP Trading Down 1.8 %

Shares of BP stock traded down $0.63 during midday trading on Friday, reaching $34.13. The company had a trading volume of 2,733,192 shares, compared to its average volume of 8,589,546. The stock has a fifty day moving average price of $35.74 and a 200 day moving average price of $36.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.23 and a quick ratio of 0.94. The firm has a market cap of $94.54 billion, a PE ratio of 10.90, a P/E/G ratio of 2.09 and a beta of 0.65. BP has a fifty-two week low of $33.52 and a fifty-two week high of $40.84.

BP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.48 per share. This is a boost from BP’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a dividend yield of 5.63%. The ex-dividend date is Friday, August 9th. BP’s payout ratio is 53.92%.

Analyst Upgrades and Downgrades

BP has been the subject of a number of research reports. Piper Sandler reissued a “neutral” rating and set a $43.00 target price on shares of BP in a report on Wednesday, July 17th. Evercore ISI upgraded BP to a “strong-buy” rating in a research report on Wednesday. UBS Group upgraded BP to a “strong-buy” rating in a research report on Tuesday. Erste Group Bank restated a “hold” rating on shares of BP in a research report on Friday, June 14th. Finally, Wells Fargo & Company decreased their target price on BP from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.23.

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.