BP PLC (NYSE:BP) – Equities research analysts at Credit Agricole SA reduced their Q3 2016 earnings estimates for BP PLC in a research note issued on Tuesday. Credit Agricole SA analyst A. Sen now expects that the firm will earn $0.21 per share for the quarter, down from their previous estimate of $0.25. Credit Agricole SA currently has a “Buy” rating on the stock.
Several other equities analysts have also commented on BP. Jefferies Group increased their price objective on BP PLC from $31.00 to $33.00 and gave the company a “hold” rating in a research report on Monday, July 11th. Barclays PLC reiterated a “buy” rating on shares of BP PLC in a research report on Thursday, October 6th. BNP Paribas reiterated an “outperform” rating on shares of BP PLC in a research report on Tuesday. Vetr lowered BP PLC from a “buy” rating to a “hold” rating and set a $36.43 price objective on the stock. in a research report on Thursday, September 8th. Finally, Collins Stewart reiterated a “buy” rating on shares of BP PLC in a research report on Sunday, September 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $38.63.
BP PLC (NYSE:BP) opened at 35.84 on Friday. BP PLC has a 52 week low of $27.01 and a 52 week high of $37.53. The firm’s market capitalization is $112.16 billion. The firm has a 50-day moving average price of $34.61 and a 200 day moving average price of $33.38.
BP PLC (NYSE:BP) last issued its quarterly earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by $0.05. BP PLC had a negative net margin of 2.76% and a positive return on equity of 3.32%. The business earned $46.44 billion during the quarter, compared to analyst estimates of $50.22 billion. During the same period last year, the firm posted $0.07 earnings per share. BP PLC’s quarterly revenue was down 25.7% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 5th were paid a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date was Wednesday, August 3rd. BP PLC’s payout ratio is -139.18%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Associated Banc Corp boosted its position in shares of BP PLC by 10.7% in the first quarter. Associated Banc Corp now owns 50,728 shares of the oil and gas exploration company’s stock worth $1,531,000 after buying an additional 4,914 shares during the last quarter. Smith Moore & CO. acquired a new stake in BP PLC during the first quarter worth approximately $212,000. Willis Investment Counsel raised its stake in BP PLC by 12.5% in the first quarter. Willis Investment Counsel now owns 362,755 shares of the oil and gas exploration company’s stock worth $10,948,000 after buying an additional 40,315 shares during the last quarter. Optimum Investment Advisors raised its stake in BP PLC by 98.1% in the first quarter. Optimum Investment Advisors now owns 19,792 shares of the oil and gas exploration company’s stock worth $597,000 after buying an additional 9,800 shares during the last quarter. Finally, Chubb Ltd. acquired a new stake in BP PLC during the first quarter worth approximately $12,072,000. Institutional investors and hedge funds own 12.06% of the company’s stock.
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