Brokers Offer Predictions for BP PLC’s Q3 2016 Earnings (BP)
BP PLC (NYSE:BP) – Research analysts at Credit Agricole SA dropped their Q3 2016 earnings per share estimates for shares of BP PLC in a research note issued on Tuesday. Credit Agricole SA analyst A. Sen now forecasts that the firm will post earnings of $0.21 per share for the quarter, down from their previous estimate of $0.25. Credit Agricole SA has a “Buy” rating on the stock.
Other equities analysts have also recently issued research reports about the stock. Citigroup Inc. raised shares of BP PLC from a “neutral” rating to a “buy” rating and raised their price target for the company from $31.15 to $39.00 in a research report on Thursday, June 16th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BP PLC in a research report on Thursday, July 21st. Vetr cut shares of BP PLC from a “strong-buy” rating to a “buy” rating and set a $36.40 target price on the stock. in a research report on Tuesday, June 28th. Collins Stewart reissued a “buy” rating on shares of BP PLC in a research report on Thursday, June 30th. Finally, Barclays PLC reissued a “buy” rating on shares of BP PLC in a research report on Thursday, October 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. BP PLC currently has a consensus rating of “Buy” and a consensus price target of $38.63.
BP PLC (NYSE:BP) traded up 0.81% during trading on Friday, hitting $35.97. The stock had a trading volume of 2,184,986 shares. The firm’s market capitalization is $112.57 billion. BP PLC has a 1-year low of $27.01 and a 1-year high of $37.53. The firm has a 50 day moving average price of $34.57 and a 200-day moving average price of $33.34.
BP PLC (NYSE:BP) last posted its earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 EPS for the quarter, missing the 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 firm earned $46.44 billion during the quarter, compared to analyst estimates of $50.22 billion. During the same period in the previous year, the company posted $0.07 EPS. BP PLC’s revenue for the quarter was down 25.7% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BP. Barrow Hanley Mewhinney & Strauss LLC raised its position in BP PLC by 7.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 39,936,560 shares of the oil and gas exploration company’s stock worth $1,418,148,000 after buying an additional 2,624,676 shares in the last quarter. Franklin Resources Inc. raised its position in BP PLC by 19.4% in the second quarter. Franklin Resources Inc. now owns 35,849,141 shares of the oil and gas exploration company’s stock worth $1,273,003,000 after buying an additional 5,815,906 shares in the last quarter. Dimensional Fund Advisors LP raised its position in BP PLC by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 23,510,913 shares of the oil and gas exploration company’s stock worth $834,873,000 after buying an additional 164,624 shares in the last quarter. Wellington Management Group LLP raised its position in BP PLC by 0.3% in the first quarter. Wellington Management Group LLP now owns 7,819,554 shares of the oil and gas exploration company’s stock worth $235,994,000 after buying an additional 22,315 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock worth $263,671,000 after buying an additional 3,405,646 shares in the last quarter. Institutional investors and hedge funds own 12.06% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 5th were paid a $0.595 dividend. The ex-dividend date was Wednesday, August 3rd. This represents a $2.38 dividend on an annualized basis and a yield of 6.67%. BP PLC’s dividend payout ratio is -139.18%.
About BP PLC
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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