BP (NYSE:BP) Issues Earnings Results

BP (NYSE:BP) issued its quarterly earnings results on Tuesday. The oil and gas exploration company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.12), Zacks reports. BP had a net margin of 1.36% and a return on equity of 12.91%.

BP Stock Up 6.6 %

Shares of BP opened at $34.41 on Tuesday. The business’s 50 day moving average is $30.36 and its 200 day moving average is $31.34. The company has a market capitalization of $92.11 billion, a PE ratio of 36.22, a price-to-earnings-growth ratio of 2.26 and a beta of 0.64. BP has a 12-month low of $27.82 and a 12-month high of $40.40. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66.

Wall Street Analyst Weigh In

BP has been the subject of several analyst reports. Morgan Stanley reduced their price target on BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Piper Sandler reduced their price target on BP from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. StockNews.com downgraded BP from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of BP in a research report on Tuesday, January 14th. Finally, Raymond James increased their price objective on BP from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Twelve equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.76.

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.