BP plc (NYSE:BP) declared a quarterly dividend on Wednesday, May 1st, Wall Street Journal reports. Stockholders of record on Friday, May 10th will be given a dividend of 0.615 per share by the oil and gas exploration company on Friday, June 21st. This represents a $2.46 annualized dividend and a dividend yield of 6.00%. The ex-dividend date of this dividend is Thursday, May 9th.
BP has increased its dividend payment by an average of 0.3% annually over the last three years. BP has a dividend payout ratio of 71.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect BP to earn $4.08 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 59.8%.
NYSE:BP traded down $0.24 on Thursday, reaching $41.03. The stock had a trading volume of 3,678,300 shares, compared to its average volume of 5,245,795. BP has a 1-year low of $36.28 and a 1-year high of $47.57. The firm has a market cap of $137.97 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.72 and a beta of 0.78. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.61.
Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of BP from a “strong sell” rating to a “hold” rating in a research note on Friday, February 8th. Royal Bank of Canada downgraded shares of BP from a “top pick” rating to an “outperform” rating and set a $44.65 price objective for the company. in a research report on Tuesday, April 16th. Finally, Deutsche Bank restated a “buy” rating on shares of BP in a report on Thursday, March 7th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $55.41.
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BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
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