BP p.l.c. (NYSE:BP) Declares Quarterly Dividend of $0.52

Key Points

• BP raised its quarterly dividend 4.1% to $0.5196 per share, payable September 18 to shareholders of record on August 14. The dividend implies an annualized yield of approximately 4.9%.
• BP reported quarterly EPS of $2.22, beating analysts’ $1.87 estimate, while revenue of $69.11 billion exceeded the $57.89 billion consensus and increased 106.1% year over year.
• The dividend appears supported by earnings, with a 66.8% current payout ratio and an expected future payout ratio of 48.4%; institutional investors and hedge funds own 11.01% of BP’s stock.

BP p.l.c. (NYSE:BP - Get Free Report) declared a quarterly dividend on Tuesday, August 4th. Shareholders of record on Friday, August 14th will be paid a dividend of 0.5196 per share by the oil and gas exploration company on Friday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, August 14th. This is a 4.1% increase from BP's previous quarterly dividend of $0.50.

BP has raised its dividend payment by an average of 0.0%per year over the last three years. BP has a dividend payout ratio of 66.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BP to earn $4.07 per share next year, which means the company should continue to be able to cover its $1.97 annual dividend with an expected future payout ratio of 48.4%.

BP Stock Performance

BP stock opened at $42.85 on Wednesday. The company's 50-day moving average price is $41.08 and its 200-day moving average price is $41.80. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.68. The company has a market cap of $112.24 billion, a PE ratio of 35.71, a price-to-earnings-growth ratio of 0.74 and a beta of 0.16. BP has a twelve month low of $32.72 and a twelve month high of $48.27.

BP (NYSE:BP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The oil and gas exploration company reported $2.22 EPS for the quarter, beating analysts' consensus estimates of $1.87 by $0.35. The firm had revenue of $69.11 billion during the quarter, compared to the consensus estimate of $57.89 billion. BP had a net margin of 1.62% and a return on equity of 12.06%. The firm's revenue for the quarter was up 106.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS. On average, equities research analysts forecast that BP will post 5.76 EPS for the current fiscal year.

Hedge Funds Weigh In On BP

Several institutional investors have recently made changes to their positions in BP. Sound Shore Management Inc. CT purchased a new stake in BP in the fourth quarter worth about $67,890,000. Public Employees Retirement System of Ohio bought a new stake in shares of BP in the 1st quarter valued at about $28,136,000. New York State Common Retirement Fund purchased a new stake in shares of BP in the 4th quarter worth approximately $17,768,000. Sagefield Capital LP boosted its stake in shares of BP by 125.2% during the fourth quarter. Sagefield Capital LP now owns 493,556 shares of the oil and gas exploration company's stock valued at $17,141,000 after purchasing an additional 274,381 shares in the last quarter. Finally, Milford Funds Ltd. purchased a new position in BP during the fourth quarter valued at approximately $8,335,000. Hedge funds and other institutional investors own 11.01% of the company's stock.

BP Company Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world's largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company's core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.

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