BP (NYSE:BP) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

BP (NYSE:BP - Get Free Report) released its earnings results on Tuesday. The oil and gas exploration company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.03), Zacks reports. The firm had revenue of $46.91 billion during the quarter, compared to analysts' expectations of $40.12 billion. BP had a return on equity of 10.96% and a net margin of 0.20%. The company's revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 earnings per share.

BP Trading Down 2.5 %

Shares of BP traded down $0.72 on Tuesday, hitting $28.41. 7,575,969 shares of the stock traded hands, compared to its average volume of 12,255,666. The stock's 50 day moving average is $31.18 and its two-hundred day moving average is $30.78. BP has a 1 year low of $25.22 and a 1 year high of $39.66. The firm has a market capitalization of $77.14 billion, a P/E ratio of 354.72, a P/E/G ratio of 1.12 and a beta of 0.41. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.70.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 21st were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.76%. The ex-dividend date of this dividend was Friday, February 21st. BP's payout ratio is currently 2,375.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. DZ Bank cut shares of BP from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. UBS Group lowered BP from a "buy" rating to a "neutral" rating in a research report on Thursday, April 10th. Raymond James boosted their price target on shares of BP from $36.00 to $37.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Wells Fargo & Company raised their price objective on BP from $30.00 to $37.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley cut their price target on shares of BP from $34.70 to $31.80 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $36.73.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.