BP PLC (BP) to Post Q3 2016 Earnings of $0.18 Per Share, Jefferies Group Forecasts
BP PLC (NYSE:BP) – Analysts at Jefferies Group issued their Q3 2016 EPS estimates for BP PLC in a research note issued to investors on Tuesday. Jefferies Group analyst J. Gammel expects that the brokerage will post earnings of $0.18 per share for the quarter. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for BP PLC’s FY2018 earnings at $2.59 EPS.
Other equities research analysts also recently issued research reports about the stock. Vetr downgraded shares of BP PLC from a “strong-buy” rating to a “buy” rating and set a $37.66 target price for the company. in a research report on Friday, August 12th. Citigroup Inc. reaffirmed a “buy” rating on shares of BP PLC in a research report on Wednesday, July 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of BP PLC in a research report on Thursday, July 21st. Collins Stewart reaffirmed a “buy” rating on shares of BP PLC in a research report on Thursday, June 30th. Finally, Credit Agricole SA reaffirmed a “buy” rating on shares of BP PLC in a research report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.63.
Shares of BP PLC (NYSE:BP) opened at 35.84 on Thursday. The firm’s market cap is $112.16 billion. BP PLC has a 12 month low of $27.01 and a 12 month high of $37.53. The company has a 50-day moving average of $34.61 and a 200-day moving average of $33.38.
BP PLC (NYSE:BP) last announced its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.05. The firm earned $46.44 billion during the quarter, compared to analyst estimates of $50.22 billion. BP PLC had a negative net margin of 2.76% and a positive return on equity of 3.32%. BP PLC’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 EPS.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 5th were paid a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 6.64%. The ex-dividend date was Wednesday, August 3rd. BP PLC’s dividend payout ratio is presently -139.18%.
Several large investors have recently added to or reduced their stakes in BP. Bank of Montreal Can purchased a new stake in BP PLC during the second quarter worth about $257,496,000. Franklin Resources Inc. raised its stake 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. BlackRock Advisors LLC raised its stake in BP PLC by 173.3% in the second quarter. BlackRock Advisors LLC now owns 7,208,886 shares of the oil and gas exploration company’s stock worth $255,988,000 after buying an additional 4,571,568 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in BP PLC during the second quarter worth about $157,139,000. Finally, Acadian Asset Management LLC raised its stake 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.
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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