What is Zacks Research’s Estimate for BP FY2024 Earnings?

BP p.l.c. (NYSE:BP) – Analysts at Zacks Research dropped their FY2024 earnings per share estimates for shares of BP in a research note issued to investors on Thursday, December 19th. Zacks Research analyst R. Department now forecasts that the oil and gas exploration company will post earnings per share of $3.45 for the year, down from their prior estimate of $3.53. The consensus estimate for BP’s current full-year earnings is $3.55 per share. Zacks Research also issued estimates for BP’s Q4 2024 earnings at $0.65 EPS, Q1 2025 earnings at $0.80 EPS, Q3 2025 earnings at $1.04 EPS and FY2025 earnings at $3.80 EPS.

BP has been the subject of several other reports. Wells Fargo & Company dropped their target price on BP from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Scotiabank lowered shares of BP from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $42.00 to $36.00 in a report on Thursday, October 10th. BNP Paribas downgraded shares of BP from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 9th. Piper Sandler cut their price target on shares of BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, Redburn Atlantic cut shares of BP from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 24th. Eleven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $41.10.

BP Trading Up 0.5 %

Shares of BP opened at $28.75 on Monday. BP has a fifty-two week low of $27.82 and a fifty-two week high of $40.40. The stock has a fifty day moving average of $29.73 and a two-hundred day moving average of $32.53. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22. The company has a market capitalization of $76.82 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 2.13 and a beta of 0.64.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. BP had a net margin of 1.36% and a return on equity of 12.91%. The business had revenue of $47.25 billion during the quarter, compared to the consensus estimate of $52.05 billion. During the same period in the previous year, the firm posted $1.15 earnings per share. The company’s quarterly revenue was down 11.3% compared to the same quarter last year.

BP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 8th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.92 annualized dividend and a dividend yield of 6.68%. BP’s dividend payout ratio is presently 200.00%.

Institutional Investors Weigh In On BP

Several hedge funds and other institutional investors have recently bought and sold shares of BP. Independence Bank of Kentucky boosted its stake 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 acquiring an additional 600 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in BP by 3.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 429,773 shares of the oil and gas exploration company’s stock valued at $15,515,000 after buying an additional 13,984 shares during the last quarter. Strategic Blueprint LLC lifted its holdings in BP by 2.6% during the 2nd quarter. Strategic Blueprint LLC now owns 13,200 shares of the oil and gas exploration company’s stock worth $477,000 after buying an additional 330 shares during the last quarter. Arkadios Wealth Advisors grew its position in shares of BP by 25.3% in the 2nd quarter. Arkadios Wealth Advisors now owns 51,513 shares of the oil and gas exploration company’s stock worth $1,860,000 after acquiring an additional 10,385 shares in the last quarter. Finally, Rothschild Investment LLC acquired a new stake in shares of BP during the 2nd quarter valued at approximately $2,620,000. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

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.