BP (BP) to Release Earnings on Tuesday

BP (NYSE:BP) will be posting its quarterly earnings results before the market opens on Tuesday, October 29th. Analysts expect BP to post earnings of $0.78 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. BP had a return on equity of 13.83% and a net margin of 3.60%. The business had revenue of $47.30 billion for the quarter, compared to analysts’ expectations of $55.82 billion. During the same period in the previous year, the firm earned $0.89 EPS. The business’s quarterly revenue was down 2.6% on a year-over-year basis. On average, analysts expect BP to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

BP Stock Up 0.7 %

Shares of BP stock opened at $31.52 on Friday. The company’s 50 day moving average price is $32.40 and its 200-day moving average price is $34.99. BP has a 52-week low of $30.52 and a 52-week high of $40.40. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.24. The stock has a market capitalization of $87.31 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 4.25 and a beta of 0.64.

BP Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 9th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date of this dividend was Friday, August 9th. This is an increase from BP’s previous quarterly dividend of $0.44. BP’s payout ratio is currently 59.56%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Piper Sandler restated a “neutral” rating and issued a $43.00 price objective on shares of BP in a report on Wednesday, July 17th. Scotiabank lowered shares of BP from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $42.00 to $36.00 in a report on Thursday, October 10th. UBS Group upgraded BP to a “strong-buy” rating in a report on Tuesday, July 30th. Redburn Atlantic cut BP from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 24th. Finally, BNP Paribas cut BP from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, BP has an average rating of “Moderate Buy” and an average target price of $42.98.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.