BP (BP) Set to Announce Quarterly Earnings on Tuesday

BP (NYSE:BP) is scheduled to be releasing its earnings data before the market opens on Tuesday, October 29th. Analysts expect BP to post earnings of $0.78 per share for the quarter.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.92 by $0.08. The business had revenue of $47.30 billion during 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 quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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 0.4 %

Shares of NYSE BP opened at $31.47 on Tuesday. BP has a 12-month low of $30.52 and a 12-month high of $40.40. The stock has a market cap of $87.18 billion, a P/E ratio of 9.87, a PEG ratio of 4.25 and a beta of 0.64. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $32.60 and its 200-day simple moving average is $35.17.

BP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 9th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from BP’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.10%. BP’s payout ratio is currently 59.56%.

Analyst Ratings Changes

Several research analysts have commented on BP shares. The Goldman Sachs Group upgraded shares of BP to a “strong-buy” rating in a report on Friday, October 11th. Wells Fargo & Company dropped their target price on BP from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Morgan Stanley downgraded BP from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $49.90 to $41.50 in a report on Monday, July 15th. HSBC downgraded BP from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Piper Sandler restated a “neutral” rating and set a $43.00 target price on shares of BP in a research note on Wednesday, July 17th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.98.

BP Company Profile

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.