FY2024 Earnings Forecast for BP Issued By Zacks Research

BP p.l.c. (NYSE:BP) – Analysts at Zacks Research lowered their FY2024 EPS estimates for BP in a note issued to investors on Monday, November 18th. Zacks Research analyst R. Department now anticipates that the oil and gas exploration company will post earnings per share of $3.53 for the year, down from their prior estimate of $3.60. The consensus estimate for BP’s current full-year earnings is $3.67 per share. Zacks Research also issued estimates for BP’s Q4 2024 earnings at $0.73 EPS, Q1 2025 earnings at $0.83 EPS, Q4 2025 earnings at $1.07 EPS, Q1 2026 earnings at $0.92 EPS, Q2 2026 earnings at $0.95 EPS and FY2026 earnings at $4.14 EPS.

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

Several other equities research analysts have also issued reports on BP. Wells Fargo & Company dropped their price target on BP from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Scotiabank downgraded shares of BP from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $42.00 to $36.00 in a research report on Thursday, October 10th. Evercore ISI upgraded BP to a “strong-buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group upgraded BP to a “strong-buy” rating in a research report on Friday, October 11th. Finally, Barclays upgraded shares of BP to a “strong-buy” rating in a research report on Wednesday, July 31st. 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.73.

BP Trading Up 1.4 %

Shares of NYSE BP opened at $29.50 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock’s 50 day moving average price is $30.96 and its two-hundred day moving average price is $33.75. BP has a 52-week low of $27.82 and a 52-week high of $40.40. The stock has a market capitalization of $7.98 billion, a P/E ratio of 31.05, a PEG ratio of 1.98 and a beta of 0.65.

BP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 8th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date is Friday, November 8th. BP’s payout ratio is currently 200.00%.

Institutional Investors Weigh In On BP

A number of institutional investors and hedge funds have recently bought and sold shares of the business. LRI Investments LLC acquired a new stake in shares of BP during the 1st quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in BP in the 2nd quarter worth about $33,000. Quent Capital LLC acquired a new stake in BP during the 2nd quarter worth about $38,000. Independence Bank of Kentucky boosted its holdings in shares of BP by 85.7% in the second quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company’s stock worth $47,000 after buying an additional 600 shares during the period. Finally, Indiana Trust & Investment Management CO lifted its position in shares of BP by 29.1% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,034 shares of the oil and gas exploration company’s stock valued at $73,000 after acquiring an additional 459 shares in the last quarter. 11.01% of the stock is owned by institutional investors and hedge funds.

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.