BP p.l.c. (NYSE:BP – Free Report) – Equities research analysts at Zacks Research increased their Q3 2023 earnings estimates for BP in a research report issued to clients and investors on Tuesday, October 3rd. Zacks Research analyst U. Dutta now expects that the oil and gas exploration company will earn $1.34 per share for the quarter, up from their prior forecast of $1.31. The consensus estimate for BP’s current full-year earnings is $5.41 per share. Zacks Research also issued estimates for BP’s Q4 2023 earnings at $1.38 EPS.
Several other equities research analysts have also recently weighed in on BP. Citigroup reiterated a “buy” rating on shares of BP in a research note on Friday. StockNews.com began coverage on shares of BP in a research report on Thursday. They issued a “buy” rating for the company. TD Securities increased their price target on shares of BP from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Piper Sandler dropped their price target on shares of BP from $46.00 to $42.00 in a research report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, BP currently has a consensus rating of “Moderate Buy” and a consensus target price of $366.08.
BP Stock Up 2.3 %
NYSE BP opened at $37.26 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.88 and a current ratio of 1.17. The firm has a 50-day simple moving average of $37.51 and a 200 day simple moving average of $37.06. BP has a twelve month low of $29.54 and a twelve month high of $41.38. The stock has a market cap of $107.01 billion, a PE ratio of 6.10, a PEG ratio of 1.03 and a beta of 0.73.
BP (NYSE:BP – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.28). BP had a net margin of 7.95% and a return on equity of 24.93%. The firm had revenue of $49.48 billion for the quarter, compared to the consensus estimate of $62.24 billion. During the same quarter last year, the company earned $2.61 earnings per share.
Institutional Trading of BP
Hedge funds and other institutional investors have recently modified their holdings of the stock. Rothschild Investment Corp IL boosted its stake in BP by 2.0% in the second quarter. Rothschild Investment Corp IL now owns 77,938 shares of the oil and gas exploration company’s stock valued at $2,750,000 after acquiring an additional 1,557 shares during the last quarter. Quinn Opportunity Partners LLC bought a new position in BP in the first quarter valued at approximately $759,000. Weitzel Financial Services Inc. bought a new position in BP in the first quarter valued at approximately $210,000. Nikko Asset Management Americas Inc. boosted its stake in BP by 26.0% in the first quarter. Nikko Asset Management Americas Inc. now owns 126,221 shares of the oil and gas exploration company’s stock valued at $5,029,000 after acquiring an additional 26,011 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new position in BP in the first quarter valued at approximately $324,000. Institutional investors and hedge funds own 11.01% of the company’s stock.
BP Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, August 11th were issued a $0.4362 dividend. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.68%. This is a positive change from BP’s previous quarterly dividend of $0.40. BP’s dividend payout ratio (DPR) is currently 28.15%.
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.
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