BP (NYSE:BP) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

BP (NYSE:BP) issued its quarterly earnings data on Tuesday. The oil and gas exploration company reported $1.00 earnings per share (EPS) 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 period last year, the company earned $0.89 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year.

BP Price Performance

Shares of BP stock traded down $0.58 during trading on Friday, hitting $34.18. The stock had a trading volume of 3,772,995 shares, compared to its average volume of 8,596,571. BP has a 12 month low of $33.52 and a 12 month high of $40.84. The business’s 50-day moving average is $35.74 and its 200 day moving average is $36.55. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57. The firm has a market cap of $94.68 billion, a price-to-earnings ratio of 10.90, a P/E/G ratio of 2.09 and a beta of 0.65.

BP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 9th will be paid a $0.48 dividend. The ex-dividend date is Friday, August 9th. This represents a $1.92 annualized dividend and a yield of 5.62%. This is an increase from BP’s previous quarterly dividend of $0.44. BP’s dividend payout ratio (DPR) is currently 53.92%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of BP from $41.00 to $39.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wolfe Research began coverage on shares of BP in a research report on Thursday, July 18th. They set an “outperform” rating and a $57.00 target price on the stock. TD Securities raised their price target on shares of BP from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. StockNews.com cut shares of BP from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 29th. Finally, Raymond James upped their price target on BP from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, BP currently has an average rating of “Moderate Buy” and an average 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.