Analysts Set Expectations for BP’s FY2024 Earnings (NYSE:BP)

BP p.l.c. (NYSE:BP) – Investment analysts at Zacks Research dropped their FY2024 earnings estimates for shares of BP in a report released on Friday, January 17th. Zacks Research analyst R. Department now expects that the oil and gas exploration company will earn $3.43 per share for the year, down from their prior forecast of $3.45. The consensus estimate for BP’s current full-year earnings is $3.45 per share. Zacks Research also issued estimates for BP’s Q4 2024 earnings at $0.63 EPS, Q1 2025 earnings at $0.71 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.99 EPS, Q4 2025 earnings at $0.95 EPS and FY2025 earnings at $3.54 EPS.

A number of other research analysts have also issued reports on BP. Piper Sandler lowered their target price on shares of BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Redburn Atlantic cut BP from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 24th. Raymond James boosted their price objective on shares of BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Friday. Scotiabank downgraded shares of BP from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $42.00 to $36.00 in a research note on Thursday, October 10th. Finally, StockNews.com upgraded shares of BP from a “hold” rating to a “buy” rating in a research note on Friday, January 10th. Eleven investment analysts have rated the stock with a hold rating, five have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.76.

BP Price Performance

Shares of NYSE:BP opened at $31.70 on Monday. The business has a 50-day moving average of $29.65 and a two-hundred day moving average of $31.80. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 0.94. BP has a fifty-two week low of $27.82 and a fifty-two week high of $40.40. The stock has a market capitalization of $84.70 billion, a P/E ratio of 33.37, a P/E/G ratio of 2.20 and a beta of 0.64.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.78 by $0.05. The business had revenue of $47.25 billion during the quarter, compared to analysts’ expectations of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 EPS.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 8th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 6.06%. The ex-dividend date of this dividend was Friday, November 8th. BP’s payout ratio is presently 200.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BP. Bank & Trust Co boosted its stake in shares of BP by 404.8% in the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock valued at $63,000 after buying an additional 1,700 shares during the period. Versant Capital Management Inc raised its position in BP by 41.0% during the fourth quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock valued at $66,000 after purchasing an additional 646 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in BP during the second quarter worth $75,000. ORG Partners LLC increased its stake in shares of BP by 32.5% in the 3rd quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock valued at $80,000 after purchasing an additional 621 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of BP during the 3rd quarter worth $91,000. 11.01% of the stock is currently owned by institutional investors.

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.