FY2017 Earnings Forecast for BP p.l.c. Issued By Jefferies Group (BP)
BP p.l.c. (NYSE:BP) – Analysts at Jefferies Group upped their FY2017 EPS estimates for BP p.l.c. in a research report issued to clients and investors on Tuesday. Jefferies Group analyst J. Gammel now anticipates that the oil and gas exploration company will post earnings per share of $1.64 for the year, up from their prior forecast of $1.56. Jefferies Group has a “Hold” rating and a $36.00 price objective on the stock. Jefferies Group also issued estimates for BP p.l.c.’s FY2019 earnings at $2.39 EPS.
BP p.l.c. (NYSE:BP) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.18. The company had revenue of $56.51 billion for the quarter, compared to analysts’ expectations of $56.09 billion. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 earnings per share. WARNING: This piece of content was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.watchlistnews.com/fy2017-earnings-forecast-for-bp-p-l-c-issued-by-jefferies-group-bp/1531310.html.
Several other brokerages also recently weighed in on BP. BidaskClub downgraded BP p.l.c. from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded BP p.l.c. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Morgan Stanley restated a “buy” rating on shares of BP p.l.c. in a research note on Monday, June 12th. Societe Generale downgraded BP p.l.c. from a “buy” rating to a “hold” rating and lowered their target price for the company from $35.04 to $34.90 in a research note on Wednesday, July 26th. Finally, Argus raised their target price on BP p.l.c. from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, June 1st. Four analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. BP p.l.c. has a consensus rating of “Hold” and a consensus price target of $36.26.
Shares of BP p.l.c. (NYSE BP) opened at 34.37 on Wednesday. The stock has a market capitalization of $112.77 billion, a PE ratio of 29.99 and a beta of 0.94. BP p.l.c. has a 52 week low of $32.53 and a 52 week high of $38.68. The company’s 50 day moving average price is $34.99 and its 200-day moving average price is $34.87.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, August 11th will be issued a $0.595 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $2.38 dividend on an annualized basis and a yield of 6.92%. BP p.l.c.’s dividend payout ratio is currently 206.96%.
Institutional investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC boosted its position in shares of BP p.l.c. by 0.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,878 shares of the oil and gas exploration company’s stock worth $169,000 after buying an additional 26 shares in the last quarter. Plancorp LLC boosted its position in shares of BP p.l.c. by 0.3% in the first quarter. Plancorp LLC now owns 12,697 shares of the oil and gas exploration company’s stock worth $437,000 after buying an additional 36 shares in the last quarter. Cambridge Trust Co. boosted its position in shares of BP p.l.c. by 0.7% in the first quarter. Cambridge Trust Co. now owns 7,283 shares of the oil and gas exploration company’s stock worth $251,000 after buying an additional 54 shares in the last quarter. Johnson Financial Group Inc. boosted its position in shares of BP p.l.c. by 1.2% in the second quarter. Johnson Financial Group Inc. now owns 4,672 shares of the oil and gas exploration company’s stock worth $162,000 after buying an additional 55 shares in the last quarter. Finally, GHP Investment Advisors Inc. boosted its position in shares of BP p.l.c. by 0.5% in the first quarter. GHP Investment Advisors Inc. now owns 14,046 shares of the oil and gas exploration company’s stock worth $485,000 after buying an additional 67 shares in the last quarter. 10.10% of the stock is currently owned by hedge funds and other institutional investors.
BP p.l.c. Company Profile
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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