$79.79 Billion in Sales Expected for BP plc (NYSE:BP) This Quarter

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Equities analysts predict that BP plc (NYSE:BP) will report sales of $79.79 billion for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for BP’s earnings, with the lowest sales estimate coming in at $73.74 billion and the highest estimate coming in at $85.83 billion. BP posted sales of $76.91 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.7%. The firm is expected to report its next earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that BP will report full-year sales of $300.69 billion for the current fiscal year, with estimates ranging from $281.93 billion to $335.67 billion. For the next year, analysts forecast that the business will post sales of $338.05 billion, with estimates ranging from $283.37 billion to $434.10 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for BP.

BP (NYSE:BP) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas exploration company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The business had revenue of $66.32 billion for the quarter, compared to the consensus estimate of $64.85 billion. BP had a net margin of 3.26% and a return on equity of 12.19%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 earnings per share.

Several research firms recently weighed in on BP. Credit Suisse Group began coverage on shares of LTC Properties in a research report on Wednesday, July 10th. They issued an “underperform” rating and a $19.00 price objective on the stock. Royal Bank of Canada began coverage on shares of Robert Half International in a research report on Tuesday, April 16th. They issued a “sector perform” rating on the stock. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. BP has an average rating of “Buy” and a consensus price target of $52.54.

Large investors have recently added to or reduced their stakes in the company. Family Legacy Inc. purchased a new stake in BP in the fourth quarter worth $161,000. Horan Capital Advisors LLC. purchased a new position in BP in the first quarter worth about $35,000. Columbia Asset Management boosted its position in BP by 12.6% in the first quarter. Columbia Asset Management now owns 52,569 shares of the oil and gas exploration company’s stock worth $2,298,000 after purchasing an additional 5,863 shares during the last quarter. Global Financial Private Capital LLC lifted its position in shares of BP by 2.8% during the 1st quarter. Global Financial Private Capital LLC now owns 344,110 shares of the oil and gas exploration company’s stock valued at $15,045,000 after buying an additional 9,341 shares in the last quarter. Finally, Simmons Bank lifted its position in shares of BP by 6.5% during the 1st quarter. Simmons Bank now owns 34,453 shares of the oil and gas exploration company’s stock valued at $1,506,000 after buying an additional 2,110 shares in the last quarter. 11.02% of the stock is owned by hedge funds and other institutional investors.

Shares of BP traded down $0.44 during midday trading on Monday, hitting $38.84. 790,161 shares of the company traded hands, compared to its average volume of 4,826,197. The stock’s 50-day moving average is $41.39. BP has a one year low of $36.28 and a one year high of $47.16. The firm has a market cap of $129.66 billion, a price-to-earnings ratio of 10.22, a P/E/G ratio of 1.77 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.72 and a current ratio of 1.02.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 10th were given a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 6.33%. The ex-dividend date was Thursday, May 9th. BP’s dividend payout ratio (DPR) is 64.21%.

About BP

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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