BP PLC (NYSE:BP) – Equities research analysts at Credit Agricole SA reduced their Q3 2016 earnings estimates for BP PLC in a research note issued on Tuesday. Credit Agricole SA analyst A. Sen now expects that the firm will earn $0.21 per share for the quarter, down from their previous estimate of $0.25. Credit Agricole SA currently has a “Buy” rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Vetr raised shares of BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.00 price target for the company in a research report on Monday, June 27th. Credit Suisse Group AG raised shares of BP PLC from an “underperform” rating to a “neutral” rating in a research report on Tuesday, July 5th. JPMorgan Chase & Co. reissued a “buy” rating on shares of BP PLC in a research report on Thursday, July 21st. Collins Stewart reissued a “buy” rating on shares of BP PLC in a research report on Thursday, June 30th. Finally, Citigroup Inc. reissued a “buy” rating on shares of BP PLC in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $38.63.

Earnings History and Estimates for BP PLC (NYSE:BP)

Shares of BP PLC (NYSE:BP) opened at 35.84 on Friday. The firm’s market capitalization is $112.16 billion. BP PLC has a 12 month low of $27.01 and a 12 month high of $37.53. The firm’s 50-day moving average price is $34.61 and its 200 day moving average price is $33.38.

BP PLC (NYSE:BP) last announced its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.05. The company had revenue of $46.44 billion for 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%. BP PLC’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 5th were given a $0.595 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $2.38 annualized dividend and a dividend yield of 6.64%. BP PLC’s dividend payout ratio is presently -139.18%.

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its position in shares of BP PLC by 226.5% in the first quarter. Renaissance Technologies LLC now owns 979,700 shares of the oil and gas exploration company’s stock valued at $29,567,000 after buying an additional 679,600 shares during the last quarter. Citizens Financial Group Inc RI increased its position in shares of BP PLC by 38.9% in the first quarter. Citizens Financial Group Inc RI now owns 6,947 shares of the oil and gas exploration company’s stock valued at $209,000 after buying an additional 1,947 shares during the last quarter. HBK Investments L P increased its position in shares of BP PLC by 690.4% in the first quarter. HBK Investments L P now owns 177,841 shares of the oil and gas exploration company’s stock valued at $5,367,000 after buying an additional 155,341 shares during the last quarter. Wellington Management Group LLP increased its position 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 valued at $235,994,000 after buying an additional 22,315 shares during the last quarter. Finally, Simmons Bank purchased a new position in shares of BP PLC during the first quarter valued at about $430,000. Institutional investors and hedge funds own 12.06% of the company’s stock.

BP PLC Company Profile

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.

5 Day Chart for NYSE:BP

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