Research Analysts Offer Predictions for BP p.l.c.’s Q3 2024 Earnings (NYSE:BP)

BP p.l.c. (NYSE:BP) – Research analysts at Zacks Research reduced their Q3 2024 EPS estimates for BP in a research note issued to investors on Thursday, September 26th. Zacks Research analyst R. Department now expects that the oil and gas exploration company will post earnings of $0.84 per share for the quarter, down from their prior estimate of $0.98. The consensus estimate for BP’s current full-year earnings is $3.85 per share. Zacks Research also issued estimates for BP’s Q4 2024 earnings at $0.88 EPS, FY2024 earnings at $3.69 EPS, Q1 2025 earnings at $0.91 EPS and Q4 2025 earnings at $1.11 EPS.

BP (NYSE:BP) last announced its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.08. BP had a return on equity of 13.83% and a net margin of 3.60%. The firm had revenue of $47.30 billion during the quarter, compared to the consensus estimate of $55.82 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year.

BP has been the topic of several other research reports. Erste Group Bank restated a “hold” rating on shares of BP in a report on Friday, June 14th. Wolfe Research began coverage on BP in a report on Thursday, July 18th. They issued an “outperform” rating and a $57.00 price target for the company. Barclays upgraded BP to a “strong-buy” rating in a research report on Wednesday, July 31st. Argus raised BP to a “hold” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada lowered shares of BP from an “outperform” rating to a “sector perform” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.73.

BP Trading Up 2.2 %

Shares of BP stock opened at $32.09 on Monday. The firm has a market capitalization of $88.89 billion, a P/E ratio of 10.06, a price-to-earnings-growth ratio of 4.27 and a beta of 0.64. BP has a 1 year low of $30.52 and a 1 year high of $40.84. The firm’s fifty day simple moving average is $33.22 and its 200 day simple moving average is $35.77. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

BP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 9th were given a $0.48 dividend. This is an increase from BP’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, August 9th. This represents a $1.92 annualized dividend and a yield of 5.98%. BP’s payout ratio is presently 59.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new position in shares of BP during the first quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of BP in the 2nd quarter valued at $33,000. Quent Capital LLC acquired a new position in shares of BP during the second quarter valued at $38,000. Guardian Wealth Management Inc. increased its position in BP by 576.0% in the fourth quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 962 shares during the period. Finally, Independence Bank of Kentucky lifted its position in BP by 85.7% during the 2nd quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company’s stock valued at $47,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

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.