BP (NYSE:BP) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

BP (NYSE:BP) issued its 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. The business had revenue of $48.88 billion for the quarter, compared to the consensus estimate of $53.65 billion. BP had a return on equity of 16.00% and a net margin of 7.15%. The firm’s revenue was down 13.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.66 earnings per share.

BP Trading Down 0.6 %

NYSE:BP traded down $0.24 during trading hours on Wednesday, hitting $37.34. The company had a trading volume of 4,753,688 shares, compared to its average volume of 9,592,141. BP has a 1 year low of $33.52 and a 1 year high of $40.84. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $37.97 and a 200 day moving average of $36.45. The company has a market cap of $105.16 billion, a P/E ratio of 7.37, a P/E/G ratio of 2.65 and a beta of 0.67.

Analyst Ratings Changes

Several brokerages have weighed in on BP. Piper Sandler raised their target price on shares of BP from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. Wells Fargo & Company increased their price target on shares of BP from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Raymond James increased their price objective on shares of BP from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Scotiabank increased 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. Finally, TD Securities raised their price objective on shares of BP from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.