BP (BP) to Release Quarterly Earnings on Tuesday

BP (NYSE:BP) will be announcing its earnings results before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.78 per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

BP (NYSE:BP) last issued its quarterly 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. The business had revenue of $47.30 billion for the quarter, compared to the consensus estimate of $55.82 billion. BP had a net margin of 3.60% and a return on equity of 13.83%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. On average, analysts expect BP to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

BP Stock Up 0.7 %

Shares of BP stock opened at $31.52 on Friday. The company has a market capitalization of $87.31 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 4.25 and a beta of 0.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.24 and a quick ratio of 0.95. The company’s fifty day moving average price is $32.40 and its 200-day moving average price is $34.99. BP has a one year low of $30.52 and a one year high of $40.40.

BP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 9th were paid a $0.48 dividend. This is a positive change from BP’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.09%. BP’s dividend payout ratio is 59.56%.

Analysts Set New Price Targets

A number of research analysts recently commented on BP shares. Redburn Atlantic cut BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. UBS Group raised shares of BP to a “strong-buy” rating in a research note on Tuesday, July 30th. Wells Fargo & Company dropped their price objective on shares of BP from $39.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, September 27th. HSBC cut BP from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, StockNews.com upgraded BP from a “hold” rating to a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, BP presently has a consensus rating of “Moderate Buy” and an average price target of $42.98.

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.