BP plc (NYSE:BP) – Equities researchers at Piper Jaffray Companies cut their Q2 2019 earnings estimates for shares of BP in a research report issued on Monday, February 11th. Piper Jaffray Companies analyst B. Fernandez now expects that the oil and gas exploration company will earn $0.75 per share for the quarter, down from their prior estimate of $0.76. Piper Jaffray Companies has a “Overweight” rating on the stock.
A number of other equities analysts have also commented on BP. Zacks Investment Research upgraded shares of BP from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Monday, November 19th. Wells Fargo & Co assumed coverage on shares of BP in a report on Tuesday, December 18th. They issued a “market perform” rating and a $41.00 price objective on the stock. Finally, Raymond James upgraded shares of BP from a “market perform” rating to an “outperform” rating in a report on Tuesday, November 20th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $51.79.
BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 5th. The oil and gas exploration company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.27. BP had a net margin of 3.09% and a return on equity of 12.45%. The firm had revenue of $75.68 billion for the quarter, compared to analyst estimates of $78.78 billion. During the same quarter in the previous year, the business posted $0.11 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, February 15th will be paid a $0.615 dividend. The ex-dividend date is Thursday, February 14th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.77%. BP’s dividend payout ratio (DPR) is presently 64.21%.
Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of BP by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 95,330 shares of the oil and gas exploration company’s stock valued at $3,614,000 after purchasing an additional 635 shares in the last quarter. Brown Advisory Securities LLC raised its stake in shares of BP by 10.9% in the 4th quarter. Brown Advisory Securities LLC now owns 13,902 shares of the oil and gas exploration company’s stock valued at $536,000 after purchasing an additional 1,369 shares in the last quarter. Stifel Financial Corp raised its stake in shares of BP by 0.7% in the 4th quarter. Stifel Financial Corp now owns 635,889 shares of the oil and gas exploration company’s stock valued at $24,135,000 after purchasing an additional 4,672 shares in the last quarter. Roundview Capital LLC raised its stake in shares of BP by 4.8% in the 4th quarter. Roundview Capital LLC now owns 16,578 shares of the oil and gas exploration company’s stock valued at $629,000 after purchasing an additional 757 shares in the last quarter. Finally, ARS Investment Partners LLC acquired a new stake in shares of BP in the 4th quarter valued at about $288,000. Institutional investors and hedge funds own 11.09% of the company’s stock.
BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
Further Reading: What are no-load funds?
Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.