Jefferies Group Weighs in on BP p.l.c.’s FY2018 Earnings (BP)
BP p.l.c. (NYSE:BP) – Analysts at Jefferies Group dropped their FY2018 earnings estimates for BP p.l.c. in a research report issued on Tuesday. Jefferies Group analyst J. Gammel now anticipates that the oil and gas exploration company will post earnings per share of $1.97 for the year, down from their previous estimate of $2.05. Jefferies Group currently has a “Hold” rating and a $36.00 target price on the stock.
BP p.l.c. (NYSE:BP) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.18. The company had revenue of $56.51 billion for the quarter, compared to the consensus estimate of $56.09 billion. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 earnings per share.
A number of other research firms have also weighed in on BP. BidaskClub upgraded shares of BP p.l.c. from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 3rd. Piper Jaffray Companies raised shares of BP p.l.c. from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $36.33 to $42.00 in a report on Friday, August 4th. TheStreet raised shares of BP p.l.c. from a “c” rating to a “b-” rating in a report on Tuesday, May 30th. Argus increased their price objective on shares of BP p.l.c. from $36.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, June 1st. Finally, Zacks Investment Research raised shares of BP p.l.c. from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 6th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have given a buy rating to the stock. BP p.l.c. has an average rating of “Hold” and a consensus target price of $36.26.
BP p.l.c. (BP) traded up 0.64% during trading on Thursday, hitting $34.59. The stock had a trading volume of 2,622,178 shares. The company has a market capitalization of $113.49 billion, a P/E ratio of 30.18 and a beta of 0.94. The stock’s 50-day moving average price is $34.99 and its 200-day moving average price is $34.87. BP p.l.c. has a 1-year low of $32.53 and a 1-year high of $38.68.
Hedge funds have recently added to or reduced their stakes in the stock. Hudock Capital Group LLC increased its stake in BP p.l.c. by 10.3% in the first quarter. Hudock Capital Group LLC now owns 5,809 shares of the oil and gas exploration company’s stock valued at $200,000 after buying an additional 543 shares during the period. Argyle Capital Management Inc. increased its stake in BP p.l.c. by 1.0% in the first quarter. Argyle Capital Management Inc. now owns 51,210 shares of the oil and gas exploration company’s stock valued at $1,768,000 after buying an additional 500 shares during the period. Smith Chas P & Associates PA Cpas increased its stake in BP p.l.c. by 3.3% in the first quarter. Smith Chas P & Associates PA Cpas now owns 11,267 shares of the oil and gas exploration company’s stock valued at $389,000 after buying an additional 359 shares during the period. Meyer Handelman Co. increased its stake in BP p.l.c. by 0.8% in the first quarter. Meyer Handelman Co. now owns 471,841 shares of the oil and gas exploration company’s stock valued at $16,288,000 after buying an additional 3,758 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in BP p.l.c. by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 4,169,463 shares of the oil and gas exploration company’s stock valued at $143,927,000 after buying an additional 309,046 shares during the period. Hedge funds and other institutional investors own 10.10% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be given a dividend of $0.595 per share. The ex-dividend date is Wednesday, August 9th. This represents a $2.38 annualized dividend and a dividend yield of 6.92%. BP p.l.c.’s dividend payout ratio is presently 206.96%.
BP p.l.c. Company Profile
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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