Brokerages Anticipate BP plc (BP) Will Post Quarterly Sales of $81.13 Billion

Wall Street brokerages expect that BP plc (NYSE:BP) will post sales of $81.13 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for BP’s earnings, with estimates ranging from $76.44 billion to $85.83 billion. BP posted sales of $76.91 billion in the same quarter last year, which would indicate a positive year over year growth rate of 5.5%. The company is expected to announce its next earnings results on Tuesday, July 30th.

On average, analysts expect that BP will report full-year sales of $311.73 billion for the current financial year, with estimates ranging from $285.16 billion to $335.67 billion. For the next year, analysts anticipate that the company will report sales of $358.39 billion, with estimates ranging from $284.53 billion to $434.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for BP.

BP (NYSE:BP) last released its earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.02. BP had a return on equity of 12.19% and a net margin of 3.26%. The firm had revenue of $66.32 billion during the quarter, compared to the consensus estimate of $64.85 billion. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue was down 2.7% compared to the same quarter last year.

A number of equities research analysts recently commented on BP shares. Deutsche Bank reaffirmed a “buy” rating on shares of BP in a report on Thursday, March 7th. Royal Bank of Canada downgraded BP from a “top pick” rating to an “outperform” rating and set a $44.65 target price for the company. in a report on Tuesday, April 16th. Finally, Zacks Investment Research raised BP from a “strong sell” rating to a “hold” rating in a report on Friday, February 8th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $55.41.

Shares of BP stock traded up $0.57 on Thursday, reaching $41.61. 3,940,579 shares of the stock were exchanged, compared to its average volume of 5,225,985. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.61. BP has a twelve month low of $36.28 and a twelve month high of $47.57. The company has a market capitalization of $138.77 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 1.71 and a beta of 0.79.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Shareholders of record on Friday, May 10th will be issued a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Thursday, May 9th. BP’s payout ratio is presently 64.21%.

A number of large investors have recently made changes to their positions in the business. Lee Financial Co increased its position in shares of BP by 0.9% in the first quarter. Lee Financial Co now owns 25,437 shares of the oil and gas exploration company’s stock valued at $1,112,000 after buying an additional 234 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of BP by 11.9% in the first quarter. McIlrath & Eck LLC now owns 2,232 shares of the oil and gas exploration company’s stock valued at $98,000 after buying an additional 238 shares in the last quarter. Dubuque Bank & Trust Co. increased its position in shares of BP by 35.8% in the first quarter. Dubuque Bank & Trust Co. now owns 910 shares of the oil and gas exploration company’s stock valued at $39,000 after buying an additional 240 shares in the last quarter. Northern Oak Wealth Management Inc. increased its position in shares of BP by 11.1% in the first quarter. Northern Oak Wealth Management Inc. now owns 2,500 shares of the oil and gas exploration company’s stock valued at $109,000 after buying an additional 250 shares in the last quarter. Finally, Perkins Coie Trust Co increased its position in shares of BP by 66.7% in the first quarter. Perkins Coie Trust Co now owns 630 shares of the oil and gas exploration company’s stock valued at $28,000 after buying an additional 252 shares in the last quarter. 11.04% of the stock is owned by institutional investors.

About BP

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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