BP (NYSE:BP) Announces Quarterly Earnings Results

BP (NYSE:BP) announced its quarterly earnings data on Tuesday. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05, Briefing.com reports. The firm had revenue of $47.25 billion during the quarter, compared to the consensus estimate of $52.05 billion. BP had a return on equity of 13.83% and a net margin of 3.60%. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 EPS.

BP Price Performance

NYSE BP traded down $0.20 on Wednesday, hitting $29.16. The stock had a trading volume of 8,688,522 shares, compared to its average volume of 8,368,723. The company has a market capitalization of $79.10 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 4.25 and a beta of 0.64. BP has a 52-week low of $29.13 and a 52-week high of $40.40. The firm has a 50-day moving average of $32.25 and a 200-day moving average of $34.83. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.24.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BNP Paribas lowered shares of BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. Hsbc Global Res upgraded BP to a “hold” rating in a research note on Thursday, August 8th. HSBC downgraded BP from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Wells Fargo & Company cut their price target on BP from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada cut BP from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, BP has an average rating of “Moderate Buy” and a consensus target price of $42.73.

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.