BP (NYSE:BP) Releases Earnings Results, Misses Expectations By $0.06 EPS

BP (NYSE:BP) released its quarterly earnings data on Tuesday. The oil and gas exploration company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.06), Briefing.com reports. BP had a net margin of 7.15% and a return on equity of 16.00%. The company had revenue of $48.88 billion during the quarter, compared to the consensus estimate of $53.65 billion. During the same quarter in the prior year, the firm earned $1.66 EPS. The business’s revenue was down 13.0% compared to the same quarter last year.

BP Stock Performance

BP traded up $0.09 on Friday, hitting $38.13. 897,663 shares of the company traded hands, compared to its average volume of 9,526,604. The company has a 50 day moving average of $38.02 and a 200-day moving average of $36.45. The stock has a market capitalization of $107.38 billion, a PE ratio of 7.47, a PEG ratio of 2.65 and a beta of 0.67. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.57. BP has a 12-month low of $33.52 and a 12-month high of $40.84.

BP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 17th will be given a $0.4362 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.58%. BP’s dividend payout ratio (DPR) is presently 33.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Erste Group Bank upgraded BP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group upgraded BP from a “hold” rating to a “buy” rating and increased their price objective for the company from $38.60 to $42.30 in a research report on Monday, March 4th. Piper Sandler increased their price objective on BP from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Raymond James boosted their price target on BP from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Wells Fargo & Company raised their price target on shares of BP from $38.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.88.

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.