BP plc Declares Quarterly Dividend of $0.60 (BP)

BP plc (NYSE:BP) announced a quarterly dividend on Wednesday, February 7th, Wall Street Journal reports. Investors of record on Friday, February 16th will be given a dividend of 0.60 per share by the oil and gas exploration company on Thursday, March 29th. This represents a $2.40 annualized dividend and a dividend yield of 6.14%. The ex-dividend date of this dividend is Thursday, February 15th.

BP has raised its dividend payment by an average of 0.6% per year over the last three years. BP has a payout ratio of 130.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect BP to earn $2.72 per share next year, which means the company should continue to be able to cover its $2.38 annual dividend with an expected future payout ratio of 87.5%.

Shares of BP (NYSE BP) opened at $39.11 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 0.88. BP has a one year low of $33.10 and a one year high of $44.62. The firm has a market cap of $130,897.45, a PE ratio of 38.34, a P/E/G ratio of 0.75 and a beta of 0.91.

BP (NYSE:BP) last released its earnings results on Tuesday, February 6th. The oil and gas exploration company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). The company had revenue of $67.82 billion during the quarter, compared to the consensus estimate of $56.85 billion. BP had a net margin of 1.39% and a return on equity of 6.19%. The firm’s quarterly revenue was up 33.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. research analysts forecast that BP will post 2.81 EPS for the current year.

A number of research analysts have commented on the stock. Piper Jaffray Companies restated a “buy” rating and set a $51.00 price target on shares of BP in a research note on Wednesday, January 24th. Zacks Investment Research upgraded shares of BP from a “hold” rating to a “strong-buy” rating and set a $50.00 price target for the company in a research note on Monday, January 29th. TheStreet upgraded shares of BP from a “c” rating to a “b” rating in a research note on Wednesday, November 8th. Scotiabank restated a “buy” rating and set a $39.00 price target on shares of BP in a research note on Wednesday, November 1st. Finally, Evercore ISI raised their price target on shares of BP from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. BP presently has an average rating of “Hold” and a consensus target price of $40.05.

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About BP

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.

Dividend History for BP (NYSE:BP)

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