Brokerages forecast that BP p.l.c. (NYSE:BP) will announce earnings of $0.50 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for BP p.l.c.’s earnings. The highest EPS estimate is $0.55 and the lowest is $0.48. BP p.l.c. reported earnings per share of $0.30 during the same quarter last year, which would suggest a positive year-over-year growth rate of 66.7%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, October 31st.
According to Zacks, analysts expect that BP p.l.c. will report full-year earnings of $1.61 per share for the current year, with EPS estimates ranging from $1.38 to $1.80. For the next year, analysts anticipate that the business will report earnings of $2.24 per share, with EPS estimates ranging from $1.97 to $2.41. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover BP p.l.c..
BP p.l.c. (NYSE:BP) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.18). The company had revenue of $56.51 billion during the quarter, compared to analysts’ expectations of $56.09 billion. BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share.
A number of brokerages have recently weighed in on BP. Societe Generale downgraded BP p.l.c. from a “buy” rating to a “hold” rating and lowered their price target for the company from $35.04 to $34.90 in a report on Wednesday, July 26th. TheStreet downgraded BP p.l.c. from a “b-” rating to a “c” rating in a report on Thursday, August 10th. Piper Jaffray Companies upgraded BP p.l.c. from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $36.33 to $42.00 in a report on Friday, August 4th. BMO Capital Markets upgraded BP p.l.c. from a “market perform” rating to an “outperform” rating in a report on Monday, September 18th. Finally, Kepler Capital Markets upgraded BP p.l.c. from a “reduce” rating to a “hold” rating in a report on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. BP p.l.c. currently has a consensus rating of “Hold” and an average target price of $37.34.
Several large investors have recently added to or reduced their stakes in the company. Cable Hill Partners LLC grew its stake in shares of BP p.l.c. by 639.9% in the third quarter. Cable Hill Partners LLC now owns 3,559 shares of the oil and gas exploration company’s stock worth $137,000 after purchasing an additional 3,078 shares in the last quarter. Carroll Financial Associates Inc. lifted its holdings in shares of BP p.l.c. by 29.1% in the third quarter. Carroll Financial Associates Inc. now owns 9,684 shares of the oil and gas exploration company’s stock valued at $373,000 after buying an additional 2,183 shares during the period. Aperio Group LLC lifted its holdings in shares of BP p.l.c. by 5.4% in the third quarter. Aperio Group LLC now owns 600,460 shares of the oil and gas exploration company’s stock valued at $23,076,000 after buying an additional 30,762 shares during the period. Edge Wealth Management LLC lifted its holdings in shares of BP p.l.c. by 40.4% in the third quarter. Edge Wealth Management LLC now owns 315,151 shares of the oil and gas exploration company’s stock valued at $12,111,000 after buying an additional 90,622 shares during the period. Finally, Butensky & Cohen Financial Security Inc. lifted its holdings in shares of BP p.l.c. by 7.3% in the third quarter. Butensky & Cohen Financial Security Inc. now owns 49,776 shares of the oil and gas exploration company’s stock valued at $1,913,000 after buying an additional 3,370 shares during the period. 9.88% of the stock is owned by institutional investors.
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Shares of BP p.l.c. (BP) traded up 1.419% during trading on Friday, reaching $39.655. 8,147,672 shares of the company’s stock traded hands. The company has a 50 day moving average price of $38.00 and a 200 day moving average price of $35.91. The stock has a market capitalization of $130.11 billion, a PE ratio of 34.603 and a beta of 0.95. BP p.l.c. has a 1-year low of $32.53 and a 1-year high of $39.75.
About BP p.l.c.
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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