A number of other equities research analysts have also issued reports on BP. Citigroup reissued a buy rating on shares of BP in a research note on Friday, October 6th. TD Securities lifted their target price on shares of BP from $42.00 to $43.00 and gave the company a buy rating in a research note on Wednesday, August 2nd. Finally, StockNews.com initiated coverage on shares of BP in a research note on Thursday, October 5th. They set a buy rating for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, BP currently has an average rating of Hold and a consensus target price of $332.73.
BP Price Performance
BP (NYSE:BP – Get Free Report) last posted its quarterly earnings results on Tuesday, October 31st. The oil and gas exploration company reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.40 by ($0.25). The business had revenue of $53.27 billion during the quarter, compared to analyst estimates of $55.24 billion. BP had a return on equity of 18.23% and a net margin of 11.12%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 EPS. As a group, equities research analysts forecast that BP will post 5.46 EPS for the current fiscal year.
BP Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 19th. Stockholders of record on Friday, November 10th will be given a dividend of $0.4362 per share. The ex-dividend date is Thursday, November 9th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.82%. BP’s payout ratio is 20.33%.
Hedge Funds Weigh In On BP
A number of hedge funds and other institutional investors have recently bought and sold shares of BP. Miller Wealth Advisors LLC boosted its stake in BP by 2,828.0% in the second quarter. Miller Wealth Advisors LLC now owns 732 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 707 shares during the last quarter. Intrepid Capital Management Inc. acquired a new stake in BP in the second quarter worth $28,000. Turim 21 Investimentos Ltda. acquired a new stake in BP in the first quarter worth $30,000. Indiana Trust & Investment Management CO acquired a new stake in BP in the third quarter worth $35,000. Finally, KB Financial Partners LLC acquired a new stake in BP in the first quarter worth $41,000. 11.01% of the stock is owned by institutional investors.
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.
- Five stocks we like better than BP
- How to Invest and Trade Chinese Stocks
- MarketBeat Week in Review – 10/30 – 11/3
- How to Calculate Stock Profit
- Shocking uranium play that hedge funds kept hidden
- Best Stocks Under $10.00
- Dependable dividends: Why utility stocks are on fire
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.