Analysts Issue Forecasts for BP PLC’s Q3 2016 Earnings (BP)
BP PLC (NYSE:BP) – Investment analysts at Jefferies Group issued their Q3 2016 earnings per share estimates for shares of BP PLC in a note issued to investors on Tuesday. Jefferies Group analyst J. Gammel forecasts that the brokerage will earn $0.18 per share for the quarter. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for BP PLC’s FY2018 earnings at $2.59 EPS.
Other equities research analysts have also issued reports about the stock. Vetr raised shares of BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.00 price target on the stock in a report on Monday, June 20th. Citigroup Inc. reaffirmed a “buy” rating on shares of BP PLC in a report on Wednesday, June 22nd. Credit Agricole SA reaffirmed a “buy” rating on shares of BP PLC in a report on Tuesday, August 16th. Collins Stewart reaffirmed a “buy” rating on shares of BP PLC in a report on Thursday, June 30th. Finally, Morgan Stanley raised shares of BP PLC from an “equal weight” rating to an “overweight” rating in a report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $38.63.
BP PLC (NYSE:BP) traded down 0.11% during midday trading on Thursday, reaching $35.75. 2,816,126 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $34.53 and its 200 day moving average price is $33.33. The firm’s market cap is $111.88 billion. BP PLC has a 1-year low of $27.01 and a 1-year high of $37.53.
BP PLC (NYSE:BP) last posted its earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.05. The firm earned $46.44 billion during the quarter, compared to analyst estimates of $50.22 billion. BP PLC had a positive return on equity of 3.32% and a negative net margin of 2.76%. The company’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same quarter last year, the business posted $0.07 earnings per share.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC increased its position in BP PLC by 7.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 39,936,560 shares of the oil and gas exploration company’s stock worth $1,418,148,000 after buying an additional 2,624,676 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of BP PLC by 19.4% in the second quarter. Franklin Resources Inc. now owns 35,849,141 shares of the oil and gas exploration company’s stock worth $1,273,003,000 after buying an additional 5,815,906 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of BP PLC by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 23,510,913 shares of the oil and gas exploration company’s stock worth $834,873,000 after buying an additional 164,624 shares during the period. Wellington Management Group LLP raised its stake in shares of BP PLC by 0.3% in the first quarter. Wellington Management Group LLP now owns 7,819,554 shares of the oil and gas exploration company’s stock worth $235,994,000 after buying an additional 22,315 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock worth $263,671,000 after buying an additional 3,405,646 shares during the period. Institutional investors own 12.06% of the company’s stock.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 5th were given a dividend of $0.595 per share. The ex-dividend date was Wednesday, August 3rd. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.65%. BP PLC’s payout ratio is presently -139.18%.
About BP PLC
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
Receive News & Stock Ratings for BP PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP PLC and related stocks with our FREE daily email newsletter.