BP (NYSE:BP) Announces Quarterly Earnings Results

BP (NYSE:BP) released its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.03 by ($0.06), Briefing.com reports. BP had a return on equity of 16.00% and a net margin of 7.15%. The firm had revenue of $48.88 billion during the quarter, compared to the consensus estimate of $53.65 billion. During the same period in the previous year, the company posted $1.66 EPS. The company’s revenue for the quarter was down 13.0% compared to the same quarter last year.

BP Trading Down 0.6 %

Shares of NYSE:BP traded down $0.24 on Wednesday, hitting $37.34. The company had a trading volume of 4,922,358 shares, compared to its average volume of 9,594,889. The firm’s 50-day simple moving average is $37.97 and its two-hundred day simple moving average is $36.45. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $105.16 billion, a price-to-earnings ratio of 7.34, a P/E/G ratio of 2.65 and a beta of 0.67. BP has a 1 year low of $33.52 and a 1 year high of $40.84.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BP. Erste Group Bank raised BP from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Jefferies Financial Group upgraded shares of BP from a “hold” rating to a “buy” rating and lifted their target price for the company from $38.60 to $42.30 in a research report on Monday, March 4th. Scotiabank increased their price target on shares of BP from $45.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Raymond James lifted their price objective on shares of BP from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Piper Sandler raised their price target on BP from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $43.88.

About BP

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.