BP Reports Earnings Beat, Declares Dividend as Brokerages Adjust Targets
Brokerages set an average 12-month target price of $46.3615 for BP, with TD Cowen raising its hold target to $41.00, Freedom Capital moving from strong sell to hold, and Argus lifting to buy with a $50.00 target. BP reported $2.22 EPS, topping consensus of $1.87, and the stock rose 0.8%. The company declared a quarterly dividend to be paid Sept. 18, with a 100.49% payout ratio.