BP plc (BP) Expected to Post Earnings of $0.65 Per Share

Wall Street brokerages forecast that BP plc (NYSE:BP) will announce earnings per share (EPS) of $0.65 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for BP’s earnings. The lowest EPS estimate is $0.60 and the highest is $0.70. BP posted earnings of $0.46 per share during the same quarter last year, which would indicate a positive year over year growth rate of 41.3%. The business is expected to report its next earnings results before the market opens on Tuesday, May 1st.

According to Zacks, analysts expect that BP will report full-year earnings of $2.79 per share for the current financial year, with EPS estimates ranging from $2.60 to $3.12. For the next financial year, analysts anticipate that the firm will report earnings of $2.77 per share, with EPS estimates ranging from $2.46 to $3.06. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow BP.

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BP (NYSE:BP) last announced its earnings results on Tuesday, February 6th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $67.82 billion for the quarter, compared to analyst estimates of $56.85 billion. BP had a net margin of 1.39% and a return on equity of 6.19%. BP’s quarterly revenue was up 33.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS.

A number of equities research analysts have commented on BP shares. Zacks Investment Research cut BP from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 26th. Piper Jaffray reiterated a “buy” rating and set a $51.00 target price on shares of BP in a report on Wednesday, January 24th. Societe Generale upgraded BP from a “hold” rating to a “buy” rating in a report on Monday, February 12th. Morgan Stanley cut BP from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 13th. Finally, TheStreet cut BP from a “b” rating to a “c+” rating in a report on Tuesday, February 13th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. BP presently has a consensus rating of “Hold” and a consensus price target of $42.54.

Shares of NYSE:BP opened at $43.50 on Thursday. The firm has a market cap of $143,970.64, a price-to-earnings ratio of 23.14, a P/E/G ratio of 0.83 and a beta of 0.91. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.86 and a current ratio of 1.16. BP has a one year low of $33.83 and a one year high of $44.62.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Friday, February 16th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date was Thursday, February 15th. BP’s dividend payout ratio is presently 94.68%.

Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC raised its position in shares of BP by 119.2% in the 4th quarter. Renaissance Technologies LLC now owns 5,801,144 shares of the oil and gas exploration company’s stock worth $243,822,000 after buying an additional 3,155,200 shares during the period. Deutsche Bank AG raised its position in shares of BP by 91.3% in the 4th quarter. Deutsche Bank AG now owns 4,270,553 shares of the oil and gas exploration company’s stock worth $179,488,000 after buying an additional 2,037,709 shares during the period. Virtus Fund Advisers LLC purchased a new position in shares of BP in the 4th quarter worth $71,406,000. Acadian Asset Management LLC raised its position in shares of BP by 17.3% in the 4th quarter. Acadian Asset Management LLC now owns 6,444,903 shares of the oil and gas exploration company’s stock worth $270,881,000 after buying an additional 950,489 shares during the period. Finally, Delek Group Ltd. purchased a new position in shares of BP in the 4th quarter worth $26,992,000. 10.18% of the stock is currently owned by institutional investors.

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About BP

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

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