BP p.l.c. has increased its dividend by an average of 2.8% annually over the last three years. BP p.l.c. has a dividend payout ratio of 161.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect BP p.l.c. to earn $2.08 per share next year, which means the company may not be able to cover its $2.38 annual dividend with an expected future payout ratio of 114.4%.
BP p.l.c. (NYSE:BP) announced a quarterly dividend on Tuesday, August 1st, NASDAQ reports. Shareholders of record on Friday, August 11th will be given a dividend of 0.595 per share by the oil and gas exploration company on Friday, September 22nd. This represents a $2.38 annualized dividend and a yield of 6.56%. The ex-dividend date is Wednesday, August 9th.
BP p.l.c. (NYSE BP) traded up 0.52% during midday trading on Wednesday, reaching $36.46. The company’s stock had a trading volume of 2,161,600 shares. The firm has a 50 day moving average price of $34.98 and a 200-day moving average price of $35.02. The company has a market cap of $119.49 billion, a P/E ratio of 54.26 and a beta of 0.94. BP p.l.c. has a 12-month low of $32.50 and a 12-month high of $38.68.
BP p.l.c. (NYSE:BP) last announced its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.18. BP p.l.c. had a net margin of 1.06% and a return on equity of 3.72%. The company had revenue of $56.51 billion during the quarter, compared to analysts’ expectations of $56.09 billion. During the same quarter in the prior year, the business posted $0.23 earnings per share. The company’s revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts predict that BP p.l.c. will post $1.60 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the company. Scotiabank set a $37.00 price target on BP p.l.c. and gave the company a “buy” rating in a report on Tuesday. BidaskClub downgraded BP p.l.c. from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. J P Morgan Chase & Co reiterated an “overweight” rating on shares of BP p.l.c. in a report on Monday, June 12th. Vetr upgraded BP p.l.c. from a “sell” rating to a “hold” rating and set a $33.35 price target on the stock in a report on Monday, May 8th. Finally, Morgan Stanley reiterated a “buy” rating on shares of BP p.l.c. in a report on Thursday, April 13th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $36.01.
About BP p.l.c.
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.