Jefferies Group Equities Analysts Decrease Earnings Estimates for BP PLC (BP)
BP PLC (NYSE:BP) – Research analysts at Jefferies Group cut their FY2016 earnings per share estimates for shares of BP PLC in a research note issued on Tuesday. Jefferies Group analyst J. Gammel now expects that the brokerage will post earnings per share of $0.92 for the year, down from their prior estimate of $0.96. Jefferies Group currently has a “Hold” rating on the stock.
BP PLC (NYSE:BP) last issued 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 Thomson Reuters’ consensus estimate of $0.28 by $0.05. The business had revenue of $46.44 billion for the quarter, compared to analysts’ expectations 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 was down 25.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS.
Several other research analysts have also commented on the stock. Vetr upgraded shares of BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.00 price objective for the company in a research note on Monday, June 27th. Credit Suisse Group AG upgraded shares of BP PLC from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 5th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of BP PLC in a research note on Thursday, July 21st. Collins Stewart reiterated a “buy” rating on shares of BP PLC in a research note on Thursday, June 30th. Finally, Credit Agricole SA reiterated a “buy” rating on shares of BP PLC in a research note on Tuesday, August 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $38.63.
Shares of BP PLC (NYSE:BP) opened at 35.84 on Friday. The company’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 stock’s 50 day moving average is $34.61 and its 200 day moving average is $33.38.
Several hedge funds have recently added to or reduced their stakes in BP. Washington Trust Bank increased its stake in shares of BP PLC by 165.9% in the second quarter. Washington Trust Bank now owns 3,337 shares of the oil and gas exploration company’s stock worth $118,000 after buying an additional 2,082 shares during the period. Krilogy Financial LLC increased its stake in shares of BP PLC by 18.8% in the second quarter. Krilogy Financial LLC now owns 3,514 shares of the oil and gas exploration company’s stock worth $125,000 after buying an additional 555 shares during the period. Farmers National Bank purchased a new stake in shares of BP PLC during the second quarter worth about $131,000. Advisory Services Network LLC increased its stake in shares of BP PLC by 121.7% in the third quarter. Advisory Services Network LLC now owns 3,860 shares of the oil and gas exploration company’s stock worth $136,000 after buying an additional 2,119 shares during the period. Finally, Kistler Tiffany Companies LLC increased its stake in shares of BP PLC by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 4,116 shares of the oil and gas exploration company’s stock worth $146,000 after buying an additional 26 shares during the period. 12.06% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, August 5th were issued a $0.595 dividend. This represents a $2.38 annualized dividend and a dividend yield of 6.64%. The ex-dividend date of this dividend was Wednesday, August 3rd. BP PLC’s dividend payout ratio (DPR) is currently -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.