BP p.l.c. (NYSE:BP) Declares Dividend Increase – $0.50 Per Share

BP p.l.c. (NYSE:BP) announced a quarterly dividend on Tuesday, November 4th. Shareholders of record on Friday, November 14th will be given a dividend of 0.4992 per share by the oil and gas exploration company on Friday, December 19th. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Friday, November 14th. This is a 1.0% increase from BP’s previous quarterly dividend of $0.49.

BP has decreased its dividend by an average of 0.1%per year over the last three years. BP has a payout ratio of 66.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect BP to earn $4.10 per share next year, which means the company should continue to be able to cover its $1.97 annual dividend with an expected future payout ratio of 48.0%.

BP Trading Up 2.0%

BP traded up $0.70 on Wednesday, reaching $35.82. 983,814 shares of the company traded hands, compared to its average volume of 9,940,035. BP has a one year low of $25.22 and a one year high of $35.93. The company has a market cap of $94.21 billion, a P/E ratio of 170.57, a price-to-earnings-growth ratio of 1.98 and a beta of 0.54. The firm has a fifty day simple moving average of $34.42 and a two-hundred day simple moving average of $32.20. The company has a quick ratio of 0.92, a current ratio of 1.21 and a debt-to-equity ratio of 0.68.

BP (NYSE:BP) last issued its earnings results on Tuesday, November 4th. The oil and gas exploration company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.13. The business had revenue of $48.42 billion during the quarter, compared to analyst estimates of $43.76 billion. BP had a return on equity of 9.08% and a net margin of 0.29%.BP’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 EPS. As a group, equities research analysts expect that BP will post 3.53 earnings per share for the current year.

Institutional Trading of BP

Several hedge funds have recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC acquired a new stake in shares of BP in the 3rd quarter valued at $63,000. Jones Financial Companies Lllp grew its position in shares of BP by 22.1% during the third quarter. Jones Financial Companies Lllp now owns 127,792 shares of the oil and gas exploration company’s stock worth $4,553,000 after acquiring an additional 23,166 shares during the last quarter. United Community Bank boosted its stake in shares of BP by 173.8% during the third quarter. United Community Bank now owns 29,086 shares of the oil and gas exploration company’s stock worth $1,002,000 after buying an additional 18,463 shares during the period. Oakworth Capital Inc. lifted its position in BP by 18.5% during the 3rd quarter. Oakworth Capital Inc. now owns 4,765 shares of the oil and gas exploration company’s stock worth $164,000 after acquiring an additional 745 shares during the period. Finally, Transcend Capital Advisors LLC increased its stake in BP by 4.7% in the 3rd quarter. Transcend Capital Advisors LLC now owns 37,373 shares of the oil and gas exploration company’s stock valued at $1,288,000 after buying an additional 1,679 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Company Profile

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.