BP has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Tuesday, May 2nd, 2023 based off prior year’s report dates. The company is scheduled to release its next quarterly earnings announcement on Tuesday, May 2nd 2023. The company was founded in 1908 with the purpose of exploring for and producing oil in the middle east. The company expanded into Alaska in 1959 and then accelerated its expansion when it merged with Amoco in 1998. Another merger with Burhman Castrol in 2000 created the company that is traded today.

Analysts had expected BP to report first-quarter profit of $6.3 billion, according to Refinitiv. As a result, BP said it anticipated a cash flow deficit in the second quarter. On Tuesday reported better-than-expected earnings for the first quarter, following a period of stronger commodity prices and a brighter demand outlook. Stockholders of record on Friday, February 17th will be paid a dividend of $0.3966 per share on Friday, March 31st. This is an increase from the stock’s previous quarterly dividend of $0.36.

It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. BP p.l.c. currently operates through 4 segments including Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. The company produces and trades in natural gas and oil liquids, offers biofuels, and operates wind and solar power generating facilities. The company also provides de-carbonization solutions and services, such as hydrogen and carbon capture and storage, as part of its green agenda.

Earnings and Valuation

BP’s stock is owned by many different institutional and retail investors. Top institutional shareholders include Susquehanna International Group LLP (0.00%), Lazard Asset Management LLC (0.16%), Optiver Holding B.V. (0.00%), Russell Investments Group Ltd. (0.06%) and Twin Tree Management LP (0.00%).

This is a lower news sentiment than the 0.41 average news sentiment score of Oils/Energy companies. BP has been the subject of 7 research reports in the past 90 days, demonstrating strong analyst interest in this stock. The company’s average rating score is 2.54, and is based on 8 buy ratings, 4 hold ratings, and 1 sell rating. These crises included the Suez Canal crisis in 1956, the oil embargo of 1973, the Iranian Revolution in 1979 and the Fukushima disaster in 2011.

CEO Bernard Looney told CNBC on Tuesday that a combination of strong underlying performance, an improving balance sheet and higher commodity prices had enabled the company to up its returns to shareholders. It anticipates buybacks of around $1 billion per quarter and an annual dividend increase of 4% through 2025, based on an estimated average oil price of $60 per barrel. The world’s largest oil and gas companies have all sought to strengthen their climate targets in recent years,but so far none have given investors confidencetheir business model is fully aligned toParis Agreement targets. It marks a dramatic shift from 2020 when the oil and gas industry endured a dreadful 12 months by virtually every measure. Britain’s energy regulator Ofgem on Thursday announced a whopping 54% increase to its price cap from April.

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15 employees have rated BP Chief Executive Officer Bernard Looney on Glassdoor.com. Bernard Looney has an approval rating of 63% among the company’s employees. This puts Bernard Looney in the bottom 25% of approval ratings compared to other CEOs of publicly-traded companies. In the past three months, BP insiders have not sold or bought any company stock. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 to -2 .

The Zacks Industry Rank assigns a rating to each of the 265 X Industries based on their average Zacks Rank. As an investor, you want to buy stocks with the highest probability of success. That means you want to buy stocks with a Zacks Rank #1 or #2, Strong Buy or Buy, which also has a Score of an A or a B in your personal trading style. The scores are based on the trading styles of Value, Growth, and Momentum. There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score.

MarketBeat has tracked 2 news articles for BP this week, compared to 5 articles on an average week. According to analysts’ consensus price target of $369.93, BP has a forecasted upside of 963.0% from its current price of $34.80. Looney told CNBC that the eight new projects, along with the cost savings facilitated by BP’s major restructure that saw more than 6,000 job cuts, would drive production efficiency. It also upped its production guidance in the third quarter, citing the completion of seasonal maintenance activity and the ramp-up of major projects. Looney said trading had a “very good” start to the year and net debt — which fell to $27.5 billion — was reduced for the eighth consecutive quarter. “Some of the billions of pounds raised should be used to pay for a street-by-street, home insulation programme to cut energy bills and reduce emissions,” Yusuf said.

BP – BP Earnings Date, Estimates & Call Transcripts

“I understand the calls that are out there for a windfall tax right now but if we break the problem down, I think there are two solutions,” Looney said. “One is we need more gas, not less gas, and therefore we need to encourage investment into the North Sea and not discourage it. That’s number one,” he said. “And the second thing is around the transition, we need to accelerate the transition.” BP also https://day-trading.info/ posted fourth-quarter net profit of $4.1 billion, beating analyst expectations of $3.9 billion. “But the new U.K. Government must also urgently put us on track for a rapid transition away from dirty fossil fuels and onto renewables and decent home insulation, so we can fix this broken energy system once and for all.” Analysts polled by Refinitiv had expected third-quarter net profit of $6 billion.

• BP also announced a 10% increase in its quarterly dividend payout to shareholders, raising it to 6.006 cents per ordinary share.
• “I know I sound like a broken record but that is what we are doing. We are performing and delivering for our shareholders today, while at the same time leaning into the future and transforming the company.”
• The world’s largest oil and gas companies have shattered profit records in recent months, following a surge in commodity prices prompted by Russia’s invasion of Ukraine.
• It also includes an industry comparison table to see how your stock compares to its expanded industry, and the S&P 500.
• The company said it would now retire this goal, subject to maintaining a strong investment grade credit rating.

That compared with a loss of $6.7 billion over the same period a year earlier and $2.6 billion net profit for the first quarter of 2021. On Tuesday reported bumper first-quarter profits and boosted share buybacks, despite posting a massive loss after offloading its nearly-20% stake in Russian-controlled oil company Rosneft. BP’s first-quarter underlying replacement cost profit, used as a proxy for net profit, came in at $6.2 select a 2020 polaris rzr xp turbo s velocity trade in value & retail pricing billion. Analysts had expected BP to report first-quarter profit of $4.5 billion, according to Refinitiv. The British energy major posted second-quarter underlying replacement cost profit, used as a proxy for net profit, of $8.5 billion. Share prices of the world’s largest oil and gas majors are not yet reflecting the improvement in earnings, however, and the industry still faces a host of uncertainties and challenges.

Industry, Sector and Symbol

BP also announced a 10% increase in its quarterly dividend payout to shareholders, raising it to 6.006 cents per ordinary share. Environmental campaigners and union groups have condemned Big Oil’s surging profits and called on the U.K. Government to impose meaningful measures to bring down the cost of rising energy bills.

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This indicates that BP will be able to sustain or increase its dividend. Oil prices have rebounded to reach multi-year highs in recent months and all three of the world’s main forecasting agencies — OPEC, the International Energy Agency and the U.S. Energy Information Administration — now expect a demand-led recovery to pick up speed in the second half of the year. Crude futures rose to an average of $69 a barrel in the second quarter, up from an average of $61 in the first three months of the year. Brent futures were trading at around $72.74 per barrel on Tuesday morning.

The detailed multi-page Analyst report does an even deeper dive on the company’s vital statistics. It also includes an industry comparison table to see how your stock compares to its expanded industry, and the S&P 500. Real-time analyst ratings, insider transactions, earnings data, and more.

BP Posts Record 2022 Earnings, Biggest Profit In 114-Year History

More recently, soaring Covid infections in India and an expected supply increase from producer group OPEC+ have added downward pressure to oil prices. “The crucial question, as yet unanswered is what returns will BP be able to achieve from its growing portfolio of green energy investments. In the meantime, investors can look to a dividend yield of 5%.” Net debt fell $5.6 billion to $33.3 billion at the end of the first three months of the year, meaning BP hit its target of reducing net debt to $35 billion. The company said it would now retire this goal, subject to maintaining a strong investment grade credit rating. Analysts had expected BP to report first-quarter profit of $1.4 billion, according to Refinitiv.

13 Wall Street research analysts have issued “buy,” “hold,” and “sell” ratings for BP in the last twelve months. There are currently 1 sell rating, 4 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should “buy” BP shares. This was predominantly a result of the deepening climate emergency and the urgent need to pivot away from fossil fuels. The British energy major posted underlying replacement cost profit, used as a proxy for net profit, of $8.2 billion for the three months through to the end of September.

BP beats first-quarter estimates on stronger commodity prices; plans to resume share buybacks

Analysts polled by Refinitiv had expected second-quarter net profit of $2.06 billion. Beat second-quarter earnings expectations on Tuesday, while expanding its dividend and share buyback program. However, BP reported a headline loss for the quarter of $20.4 billion. This included non-cash pre-tax charges of $24 billion and $1.5 billion relating to the exit of its Rosneft stake in response to Moscow’s invasion of Ukraine.