FY2020 EPS Estimates for BP plc (BP) Lowered by Jefferies Financial Group

BP plc (NYSE:BP) – Investment analysts at Jefferies Financial Group lowered their FY2020 EPS estimates for shares of BP in a research note issued on Wednesday, May 1st. Jefferies Financial Group analyst J. Gammel now expects that the oil and gas exploration company will earn $3.08 per share for the year, down from their previous forecast of $3.10.

A number of other analysts have also commented on BP. Zacks Investment Research upgraded BP from a “strong sell” rating to a “hold” rating in a report on Friday, February 8th. Royal Bank of Canada lowered BP from a “top pick” rating to an “outperform” rating and set a $44.65 price target on the stock. in a report on Tuesday, April 16th. Finally, Deutsche Bank reiterated a “buy” rating on shares of BP in a report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. BP has a consensus rating of “Buy” and a consensus price target of $55.41.

Shares of NYSE:BP traded up $0.45 during mid-day trading on Friday, hitting $43.08. 3,903,561 shares of the company traded hands, compared to its average volume of 4,480,022. The stock has a market cap of $144.02 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.78 and a beta of 0.78. The company has a quick ratio of 0.78, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. BP has a 12-month low of $36.28 and a 12-month high of $47.83.

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

A number of institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC raised its stake in shares of BP by 12.2% during the 3rd quarter. Teachers Advisors LLC now owns 266,593 shares of the oil and gas exploration company’s stock valued at $12,290,000 after purchasing an additional 28,900 shares during the period. B. Riley Wealth Management Inc. bought a new stake in shares of BP during the 3rd quarter valued at $348,000. Csenge Advisory Group bought a new stake in shares of BP during the 3rd quarter valued at $112,000. Morgan Stanley raised its stake in shares of BP by 2.2% during the 3rd quarter. Morgan Stanley now owns 8,320,900 shares of the oil and gas exploration company’s stock valued at $383,594,000 after purchasing an additional 179,526 shares during the period. Finally, Belpointe Asset Management LLC bought a new stake in shares of BP during the 3rd quarter valued at $464,000. Institutional investors and hedge funds own 10.85% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, May 10th will be issued a dividend of $0.615 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.46 dividend on an annualized basis and a yield of 5.71%. BP’s dividend payout ratio (DPR) is currently 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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Earnings History and Estimates for BP (NYSE:BP)

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