Erste Group Bank Issues Pessimistic Estimate for BP Earnings

Key Points

• Erste Group Bank cut its FY2027 EPS estimate for BP to $3.90 from $3.96, well below the broader consensus estimate of $5.69.
• BP’s latest quarterly results exceeded expectations, with EPS of $1.24 versus the $1.00 consensus and revenue of $52.26 billion, up 11.4% year over year.
• Analyst sentiment remains generally positive: BP has a “Moderate Buy” consensus rating and a $46.59 average price target, despite shares trading down 1.4% at $41.73.

BP p.l.c. (NYSE:BP - Free Report) - Equities researchers at Erste Group Bank reduced their FY2027 EPS estimates for BP in a research report issued on Monday, July 27th. Erste Group Bank analyst H. Engel now forecasts that the oil and gas exploration company will post earnings of $3.90 per share for the year, down from their prior forecast of $3.96. The consensus estimate for BP's current full-year earnings is $5.69 per share.

BP (NYSE:BP - Get Free Report) last posted its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.24. The business had revenue of $52.26 billion for the quarter, compared to analysts' expectations of $48.50 billion. BP had a return on equity of 12.06% and a net margin of 1.62%.The business's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share.

A number of other equities analysts have also recently commented on BP. Royal Bank Of Canada raised shares of BP from a "sector perform" rating to an "outperform" rating in a report on Monday, May 11th. Mizuho began coverage on shares of BP in a research note on Monday, July 20th. They set an "outperform" rating and a $51.00 target price for the company. BNP Paribas Exane set a $57.00 price target on BP and gave the company an "outperform" rating in a research report on Friday, April 17th. Piper Sandler began coverage on BP in a research note on Thursday, July 23rd. They set a "neutral" rating and a $42.00 price objective for the company. Finally, Argus upgraded BP from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research note on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $46.59.

BP Trading Down 1.4%

NYSE:BP opened at $41.73 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.68. BP has a 52-week low of $31.58 and a 52-week high of $48.27. The stock's 50 day moving average price is $41.13 and its 200 day moving average price is $41.49. The company has a market capitalization of $109.31 billion, a PE ratio of 34.78, a P/E/G ratio of 0.72 and a beta of 0.17.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Atlas Brown Inc. boosted its holdings in BP by 1.0% in the 2nd quarter. Atlas Brown Inc. now owns 36,925 shares of the oil and gas exploration company's stock valued at $1,364,000 after purchasing an additional 370 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of BP by 18.6% in the second quarter. GAMMA Investing LLC now owns 10,052 shares of the oil and gas exploration company's stock valued at $371,000 after buying an additional 1,573 shares in the last quarter. Versant Capital Management Inc raised its position in BP by 4.8% in the second quarter. Versant Capital Management Inc now owns 7,953 shares of the oil and gas exploration company's stock worth $294,000 after acquiring an additional 366 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in shares of BP during the 2nd quarter worth $1,303,000. Finally, Parallel Advisors LLC grew its stake in shares of BP by 8.6% during the 1st quarter. Parallel Advisors LLC now owns 29,724 shares of the oil and gas exploration company's stock worth $1,397,000 after purchasing an additional 2,359 shares during the period. 11.01% of the stock is owned by hedge funds and other institutional investors.

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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