BP p.l.c. (BP) to Issue Quarterly Dividend of $0.48 on March 28th

BP p.l.c. (NYSE:BP) declared a quarterly dividend on Tuesday, February 11th,Wall Street Journal reports. Investors of record on Friday, February 21st will be paid a dividend of 0.48 per share by the oil and gas exploration company on Friday, March 28th. This represents a $1.92 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend is Friday, February 21st.

BP has raised its dividend payment by an average of 12.6% annually over the last three years. BP has a dividend payout ratio of 47.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect BP to earn $3.53 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 54.4%.

BP Stock Up 0.4 %

BP opened at $34.70 on Thursday. 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. The business’s 50-day moving average price is $30.57 and its 200-day moving average price is $31.33. The company has a market cap of $92.90 billion, a P/E ratio of 36.53, a P/E/G ratio of 2.26 and a beta of 0.64.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, February 11th. 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). BP had a net margin of 1.36% and a return on equity of 12.91%. On average, equities analysts expect that BP will post 3.35 EPS for the current year.

Analyst Ratings Changes

BP has been the subject of a number of analyst reports. Piper Sandler dropped their target price on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. DZ Bank cut BP from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank of Canada reissued a “sector perform” rating on shares of BP in a research note on Tuesday, January 14th. Morgan Stanley dropped their price target on BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, StockNews.com downgraded shares of BP from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, four have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, BP currently has an average rating of “Moderate Buy” and a consensus target price of $39.64.

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.