BP (NYSE:BP) Posts Quarterly Earnings Results, Beats Estimates By $0.24 EPS

BP (NYSE:BP) posted its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.24, Zacks reports. BP had a net margin of 1.62% and a return on equity of 12.06%. The business had revenue of $52.26 billion for the quarter, compared to analyst estimates of $48.50 billion. During the same quarter last year, the business posted $0.53 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis.

Here are the key takeaways from BP’s conference call:

• BP reported a strong quarter with $3.2 billion of underlying net income and $8.9 billion of operating cash flow (before a $6 billion working‑capital build); production was 2.3 mboe/d and refinery throughput exceeded 1.5 mbpd, the highest quarterly level in four years.
• The company is simplifying its structure by returning to traditional upstream/downstream reporting to boost accountability and speed, announced the agreed sale of the Gelsenkirchen refinery, and has raised its structural cost‑reduction ambition to end‑2027 (70% delivered of the initial $400–$500m target.
• Management is prioritizing deleveraging and capital discipline—buybacks remain paused, CapEx guidance tightened to ~$13–13.5bn this year, and BP plans to cut the corporate hybrid stack by over $4 billion by end‑2027 (subject to market conditions).
• Exploration momentum: management cited 14 discoveries since early 2025, including the large Boomerang discovery (~8 billion barrels in place) and several short‑cycle finds that can be tied back quickly; BP reiterates a target of 100% reserve replacement by 2027.
• Net debt increased this quarter largely because of a $6 billion working‑capital build, temporarily raising leverage and potentially constraining near‑term financial flexibility until cash converts.

BP Trading Down 2.5%

Shares of NYSE:BP traded down $1.07 during midday trading on Monday, reaching $41.71. The company’s stock had a trading volume of 4,367,629 shares, compared to its average volume of 11,922,650. The firm has a 50 day moving average price of $44.89 and a two-hundred day moving average price of $40.41. BP has a fifty-two week low of $29.58 and a fifty-two week high of $48.27. The firm has a market capitalization of $109.24 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 0.52 and a beta of 0.14. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.22.

BP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 15th will be given a $0.4992 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.00 annualized dividend and a dividend yield of 4.8%. BP’s dividend payout ratio (DPR) is 165.00%.

Hedge Funds Weigh In On BP

Several institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC bought a new position in shares of BP in the 4th quarter worth $891,000. Advisory Services Network LLC raised its stake in shares of BP by 5.8% in the fourth quarter. Advisory Services Network LLC now owns 18,304 shares of the oil and gas exploration company’s stock worth $636,000 after purchasing an additional 999 shares during the last quarter. Fiduciary Trust Co boosted its position in shares of BP by 10.1% during the third quarter. Fiduciary Trust Co now owns 16,171 shares of the oil and gas exploration company’s stock valued at $557,000 after buying an additional 1,489 shares during the last quarter. IHT Wealth Management LLC grew its position in BP by 3.3% in the 2nd quarter. IHT Wealth Management LLC now owns 12,513 shares of the oil and gas exploration company’s stock worth $375,000 after purchasing an additional 398 shares in the last quarter. Finally, Greenline Partners LLC boosted its stake in shares of BP by 25.1% in the 3rd quarter. Greenline Partners LLC now owns 9,089 shares of the oil and gas exploration company’s stock worth $313,000 after buying an additional 1,826 shares during the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BP shares. Wells Fargo & Company upped their price objective on BP from $39.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Piper Sandler raised their price target on shares of BP from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Royal Bank Of Canada raised shares of BP from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen upgraded BP from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Finally, Zacks Research lowered BP from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, BP presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.14.

BP Company Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.