Scotiabank Analysts Increase Earnings Estimates for BP

BP p.l.c. (NYSE:BP) – Scotiabank upped their FY2025 earnings per share (EPS) estimates for shares of BP in a research note issued to investors on Tuesday, July 15th. Scotiabank analyst P. Cheng now forecasts that the oil and gas exploration company will earn $2.15 per share for the year, up from their prior forecast of $1.90. Scotiabank currently has a “Sector Perform” rating and a $34.00 price target on the stock. The consensus estimate for BP’s current full-year earnings is $3.53 per share.

BP has been the subject of a number of other reports. Wells Fargo & Company increased their price objective on BP from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. UBS Group cut BP from a “buy” rating to a “neutral” rating in a research report on Thursday, April 10th. Morgan Stanley cut BP from an “equal weight” rating to an “underweight” rating and set a $26.50 price objective for the company. in a research report on Monday, May 12th. Piper Sandler increased their price objective on BP from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Jefferies Financial Group set a $29.00 price objective on BP and gave the stock a “hold” rating in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.50.

BP Stock Down 0.2%

Shares of NYSE BP opened at $32.01 on Friday. BP has a 52-week low of $25.22 and a 52-week high of $35.61. The business has a 50-day moving average price of $30.39 and a 200 day moving average price of $30.95. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.69. The stock has a market cap of $86.02 billion, a PE ratio of -69.59, a price-to-earnings-growth ratio of 1.95 and a beta of 0.54.

BP (NYSE:BP) last announced its earnings results on Tuesday, April 29th. The oil and gas exploration company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). The firm had revenue of $46.91 billion during the quarter, compared to analyst estimates of $40.12 billion. BP had a negative net margin of 0.62% and a positive return on equity of 9.51%. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.97 earnings per share.

BP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 16th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, May 16th. This represents a $1.92 annualized dividend and a yield of 6.00%. BP’s dividend payout ratio is presently -413.04%.

Hedge Funds Weigh In On BP

Several hedge funds have recently bought and sold shares of BP. Cary Street Partners Investment Advisory LLC increased its position in BP by 2,250.0% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 940 shares of the oil and gas exploration company’s stock worth $32,000 after buying an additional 900 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in BP during the fourth quarter worth $33,000. Missouri Trust & Investment Co grew its position in shares of BP by 400.0% in the first quarter. Missouri Trust & Investment Co now owns 1,000 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 800 shares during the period. GW&K Investment Management LLC grew its position in shares of BP by 178.0% in the first quarter. GW&K Investment Management LLC now owns 1,034 shares of the oil and gas exploration company’s stock valued at $35,000 after purchasing an additional 662 shares during the period. Finally, ORG Partners LLC grew its position in shares of BP by 743.3% in the second quarter. ORG Partners LLC now owns 1,754 shares of the oil and gas exploration company’s stock valued at $53,000 after purchasing an additional 1,546 shares during the period. Hedge funds and other institutional investors own 11.01% of the company’s stock.

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.