BP (NYSE:BP) Issues Earnings Results, Misses Estimates By $0.06 EPS

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

BP Stock Performance

Shares of NYSE:BP traded down $0.24 on Wednesday, hitting $37.34. 4,753,688 shares of the company were exchanged, compared to its average volume of 9,592,141. BP has a one year low of $33.52 and a one year high of $40.84. The firm has a market capitalization of $105.16 billion, a price-to-earnings ratio of 7.37, a PEG ratio of 2.65 and a beta of 0.67. The company’s 50 day moving average price is $37.97 and its two-hundred day moving average price is $36.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.94 and a current ratio of 1.21.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BP shares. Raymond James increased their price target on BP from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Jefferies Financial Group upgraded BP from a “hold” rating to a “buy” rating and lifted their target price for the stock from $38.60 to $42.30 in a report on Monday, March 4th. TD Securities raised their price target on shares of BP from $41.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Wells Fargo & Company increased their target price on shares of BP from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Finally, Scotiabank boosted their price target on BP from $45.00 to $47.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.72.

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.