BP p.l.c. (NYSE:BP) Declares Quarterly Dividend of $0.48

BP p.l.c. (NYSE:BP) declared a quarterly dividend on Tuesday, October 29th, Wall Street Journal reports. Stockholders of record on Friday, November 8th will be paid a dividend of 0.48 per share by the oil and gas exploration company on Friday, December 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date of this dividend is Friday, November 8th.

BP has decreased its dividend by an average of 4.1% per year over the last three years. BP has a payout ratio of 48.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect BP to earn $4.17 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 46.0%.

BP Stock Performance

BP stock opened at $29.94 on Wednesday. The firm has a 50 day simple moving average of $31.80 and a 200 day simple moving average of $34.51. The stock has a market cap of $81.21 billion, a P/E ratio of 31.52, a P/E/G ratio of 1.97 and a beta of 0.65. BP has a 52 week low of $29.00 and a 52 week high of $40.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.78 by $0.05. The business had revenue of $47.25 billion during the quarter, compared to analysts’ expectations of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.15 EPS. Research analysts anticipate that BP will post 3.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. HSBC lowered BP from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Barclays raised BP to a “strong-buy” rating in a research report on Wednesday, July 31st. Evercore ISI upgraded BP to a “strong-buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company decreased their price target on shares of BP from $35.00 to $33.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised shares of BP to a “strong-buy” rating in a research note on Friday, October 11th. Eleven research analysts have rated the stock with a hold rating, five have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.73.

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.