BP (NYSE:BP) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

BP (NYSE:BP) announced its quarterly earnings data on Tuesday. The oil and gas exploration company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06), Briefing.com reports. The firm had revenue of $48.88 billion during the quarter, compared to analysts’ expectations of $53.65 billion. BP had a net margin of 7.15% and a return on equity of 16.00%. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.66 earnings per share.

BP Stock Performance

Shares of NYSE BP traded up $0.09 during mid-day trading on Friday, hitting $38.13. The company had a trading volume of 897,663 shares, compared to its average volume of 9,526,604. BP has a 1 year low of $33.52 and a 1 year high of $40.84. The stock’s 50-day moving average price is $38.02 and its 200-day moving average price is $36.45. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $107.38 billion, a price-to-earnings ratio of 7.47, a P/E/G ratio of 2.65 and a beta of 0.67.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 17th will be paid a $0.4362 dividend. This represents a $1.74 annualized dividend and a yield of 4.58%. The ex-dividend date is Thursday, May 16th. BP’s payout ratio is 33.79%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Raymond James upped their price target on shares of BP from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Scotiabank lifted their price objective on shares of BP from $45.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Piper Sandler raised their price objective on BP from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. TD Securities increased their target price on BP from $43.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group raised BP from a “hold” rating to a “buy” rating and increased their price target for the company from $38.60 to $42.30 in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.88.

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.