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BP plc ADR’s (NYSE: BP) Stock’s Potential for Future Price Increase

In the latest trading session, 1.35 million BP plc ADR (NYSE:BP) shares changed hands as the company’s beta touched 0.69. With the company’s most recent per share price at $36.10 changed hands at -$0.33 or -0.92% at last look, the market valuation stands at $101.48B. BP’s current price is a discount, trading about -14.63% off its 52-week high of $41.38. The share price had its 52-week low at $33.52, which suggests the last value was 7.15% up since then. When we look at BP plc ADR’s average trading volume, we note the 10-day average is 11.71 million shares, with the 3-month average coming to 1.01.

BP plc ADR (NYSE:BP) trade information

Instantly BP was in red as seen in intraday trades today. With action -0.81%, the performance over the past five days has been red. The drop to weekly highs of 36.67 subtracted -0.92% to the stock’s daily price. The company’s shares are showing year-to-date upside of 1.96%, with the 5-day performance at -0.81% in the red. However, in the 30-day time frame, BP plc ADR (NYSE:BP) is 3.54% up. Looking at the short shares, we see there were 5.11 million shares sold at short interest cover period of 0.56 days.

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BP plc ADR (BP) estimates and forecasts

Data shows that the BP plc ADR share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -1.59% over the past 6 months, a 4.18% in annual growth rate that is considerably higher than the industry average of -2.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for BP plc ADR will fall -37.00%, while the growth in revenue is estimated to hit 14.40% for the next quarter. Year-over-year growth is forecast to reach -1.40% 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 $55.88 billion. 3 analysts are of the opinion that BP plc ADR’s revenue for the quarter ending Jun 2024 will be $58.24 billion. The company’s revenue for the corresponding quarters a year ago was $56.95 billion and $54.48 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -1.90%. The estimates for the next quarter sales put growth at 6.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 13.32%. The 2024 estimates are for BP plc ADR earnings to increase by 0.58%.

BP Dividends

BP plc ADR is expected to release its next quarterly earnings report in March. The 4.61% annual yield figure for the share gives it an annual dividend of 1.67. It is important to note, however, that the 4.61% 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 plc ADR (NYSE:BP)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.00% of BP plc ADR shares while 11.86% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 11.86%. There are 11.86% institutions holding the BP plc ADR stock share, with State Street Corporation the top institutional holder. As of Sep 29, 2023, the company held 0.75% of the shares, roughly 21.46 million BP shares worth $774.91 million.

Arrowstreet Capital, Limited Partnership holds the second largest percentage of outstanding shares, with 0.75% or 21.29 million shares worth $768.85 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Oct 30, 2023 were DFA International Core Equity Portfolio and Vanguard Specialized-Energy Fund. With 3.57 million shares estimated at $128.99 million under it, the former controlled 0.13% of total outstanding shares. On the other hand, Vanguard Specialized-Energy Fund held about 0.12% of the shares, roughly 3.27 million shares worth around $118.23 million.

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