Jefferies Group Brokers Lower Earnings Estimates for BP PLC (BP)
BP PLC (NYSE:BP) – Analysts at Jefferies Group decreased their FY2016 earnings per share estimates for BP PLC in a research report issued on Tuesday. Jefferies Group analyst J. Gammel now forecasts that the brokerage will post earnings per share of $0.92 for the year, down from their prior forecast of $0.96. Jefferies Group currently has a “Hold” rating on the stock.
BP PLC (NYSE:BP) last posted its earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $46.44 billion for 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%. The company’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share.
Other equities research analysts have also issued reports about the stock. Vetr lowered shares of BP PLC from a “strong-buy” rating to a “buy” rating and set a $37.66 price objective on the stock. in a report on Friday, August 12th. Citigroup Inc. restated a “buy” rating on shares of BP PLC in a report on Wednesday, July 27th. JPMorgan Chase & Co. restated a “buy” rating on shares of BP PLC in a report on Thursday, July 21st. Collins Stewart restated a “buy” rating on shares of BP PLC in a report on Thursday, June 30th. Finally, Credit Agricole SA restated a “buy” rating on shares of BP PLC in a report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $38.63.
BP PLC (NYSE:BP) opened at 35.84 on Friday. The company’s 50-day moving average is $34.61 and its 200-day moving average is $33.38. 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 business 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. This represents a $2.38 annualized dividend and a dividend yield of 6.64%. The ex-dividend date of this dividend was Wednesday, August 3rd. BP PLC’s dividend payout ratio (DPR) is -139.18%.
Several hedge funds have recently made changes to their positions in the stock. Washington Trust Bank boosted its stake in shares of BP PLC by 165.9% in the second quarter. Washington Trust Bank now owns 3,337 shares of the oil and gas exploration company’s stock valued at $118,000 after buying an additional 2,082 shares during the period. Krilogy Financial LLC boosted its stake in shares of BP PLC by 18.8% in the second quarter. Krilogy Financial LLC now owns 3,514 shares of the oil and gas exploration company’s stock valued at $125,000 after buying an additional 555 shares during the period. Farmers National Bank bought a new stake in shares of BP PLC during the second quarter valued at approximately $131,000. Advisory Services Network LLC boosted its stake in shares of BP PLC by 121.7% in the third quarter. Advisory Services Network LLC now owns 3,860 shares of the oil and gas exploration company’s stock valued at $136,000 after buying an additional 2,119 shares during the period. Finally, Kistler Tiffany Companies LLC boosted its stake in shares of BP PLC by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 4,116 shares of the oil and gas exploration company’s stock valued at $146,000 after buying an additional 26 shares during the period. Hedge funds and other institutional investors own 12.06% of the company’s stock.
BP PLC Company Profile
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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