BP (NYSE:BP) Releases Quarterly Earnings Results

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

BP Stock Down 2.7 %

BP stock traded down $0.80 on Tuesday, reaching $28.34. 8,225,496 shares of the company traded hands, compared to its average volume of 9,548,902. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 0.97. The firm has a fifty day simple moving average of $31.18 and a 200-day simple moving average of $30.78. BP has a one year low of $25.22 and a one year high of $39.66. The company has a market cap of $76.93 billion, a P/E ratio of 354.23, a price-to-earnings-growth ratio of 1.12 and a beta of 0.41.

BP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 21st were given a $0.48 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.78%. BP's dividend payout ratio is currently 2,375.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. TD Cowen cut BP from a "buy" rating to a "hold" rating and set a $40.00 price objective on the stock. in a report on Wednesday, March 19th. JPMorgan Chase & Co. upgraded shares of BP from an "underweight" rating to a "neutral" rating in a research report on Thursday, February 20th. Royal Bank of Canada reiterated a "sector perform" rating on shares of BP in a report on Tuesday, January 14th. UBS Group downgraded BP from a "buy" rating to a "neutral" rating in a research report on Thursday, April 10th. Finally, Scotiabank dropped their price target on shares of BP from $34.00 to $30.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.

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