In the last trading session, 6.99 million BP p.l.c. (NYSE:BP) shares changed hands as the company’s beta touched 0.75. With the company’s per share price at $38.75 changed hands at -$0.35 or -0.90% during last session, the market valuation stood at $112.36B. BP’s last price was a discount, traded about -6.79% off its 52-week high of $41.38. The share price had its 52-week low at $27.20, which suggests the last value was 29.81% up since then. When we look at BP p.l.c.’s average trading volume, we note the 10-day average is 10.31 million shares, with the 3-month average coming to 7.38 million.
Analysts gave the BP p.l.c. (BP) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.10. If we narrow down to specifics, the data shows that 0 out of 30 analysts rate the stock as a Sell, with a further 4 assigning it an Overweight rating. Of the remaining, 10 recommended BP as a Hold, 16 felt it is a Buy and 0 rated the stock as Underweight. BP p.l.c.’s EPS for the current quarter is expected to be $1.35.
BP p.l.c. (NYSE:BP) trade information
Instantly BP was in red as seen at the end of in last trading. With action 0.21%, the performance over the past five days has been green. The drop to weekly highs of 39.73 on Friday, 09/15/23 subtracted -0.90% to the stock’s daily price. The company’s shares are showing year-to-date upside of 10.94%, with the 5-day performance at 0.21% in the green. However, in the 30-day time frame, BP p.l.c. (NYSE:BP) is 7.97% up. Looking at the short shares, we see there were 5.4 million shares sold at short interest cover period of 0.85 days.
The consensus price target for the stock as assigned by Wall Street analysts is $44.43, meaning bulls need an upside of 12.78% from its current market value. According to analyst projections, BP’s forecast low is $36.65 with $74.80 as the target high. To hit the forecast high, the stock’s price needs a -93.03% plunge from its current level, while the stock would need to tank 5.42% for it to hit the projected low.
BP p.l.c. (BP) estimates and forecasts
Data shows that the BP p.l.c. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 8.79% over the past 6 months, a -38.10% in annual growth rate that is considerably lower than the industry average of -12.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for BP p.l.c. will fall -47.70%, while the growth in revenue is estimated to hit -11.50% for the next quarter. Year-over-year growth is forecast to reach -12.70% down from the last financial year.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $56.46 billion. 3 analysts are of the opinion that BP p.l.c.’s revenue for the quarter ending Dec 2023 will be $55.27 billion. The company’s revenue for the corresponding quarters a year ago was $58.63 billion and $69.26 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -3.70%. The estimates for the next quarter sales put growth at -20.20%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -16.70%. The 2023 estimates are for BP p.l.c. earnings to decrease by -109.20%.
BP p.l.c. is expected to release its next quarterly earnings report in October. The 4.50% annual yield figure for the share gives it an annual dividend of 1.75. It is important to note, however, that the 4.50% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
BP p.l.c. (NYSE:BP)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.00% of BP p.l.c. shares while 11.18% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 11.18%. There are 11.18% institutions holding the BP p.l.c. stock share, with State Street Corporation the top institutional holder. As of Jun 29, 2023, the company held 0.79% of the shares, roughly 22.6 million BP shares worth $797.4 million.
Arrowstreet Capital, Limited Partnership holds the second largest percentage of outstanding shares, with 0.75% or 21.42 million shares worth $756.08 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Franklin Custodian Funds-Income Fund and DFA International Core Equity Portfolio. With 4.3 million shares estimated at $151.75 million under it, the former controlled 0.15% of total outstanding shares. On the other hand, DFA International Core Equity Portfolio held about 0.13% of the shares, roughly 3.59 million shares worth around $144.81 million.