BP (NYSE:BP) Shares Fall Over 8.5% After Company Reports Biggest Ever Annual Loss

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Things aren’t looking all that up for BP plc (ADR) (NYSE:BP) this morning, after the company announced that it saw losses of $3.3 billion in the fourth quarter of last year, and $6.48 billion for 2015 as a whole. This compares negatively to a profit of $3.78 billion the year prior (2014). This has caused investors to become quite bearish of the stock as shares are down over 8.5% in pre-market trading this morning.

To make matters worst, BP plc (ADR) (NYSE:BP) says they will be cutting thousands of more jobs, due to the downturn. The cause of this less than spectactular quarter? Slumping oil prices! If oil prices continue their slump, investors worry that the company will need to cut their dividend payments which currently stand at $0.10 per share.

The $6.48 billion annual loss surpasses that of 2010 in which the company reported a loss of $4.9 billion — the highest loss up to this date. The stock decreased 2.10% or $0.68 during the last trading session, hitting $31.69. Approximately 191,467 shares traded hands. BP shares have declined 23.34% since June 26, 2015 and are currently downtrending. It has underperformed the S&P500 by 15.63%.

From a total of 19 analysts covering BP (NYSE:BP) stock, 12 rate it a “Buy”, 1 a “Sell”, and 6 a “Hold”. This means that 63% of the ratings are positive. The highest target price is $42 while the lowest target price is $35.80. The mean of all analyst targets is $40.20 which is 26.85% above today’s ($31.69) stock price. BP was the topic of 24 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Societe Generale upgraded shares on January 18 to a “Buy” rating. Howard Weil upgraded BP stock in a recent report from December 14 to a “Focus Stock” rating. Finally, Evercore upgraded the stock to a “Buy” rating in a report they issued on a November 3.

BP p.l.c. is an integrated oil and gas company. The company has a market cap of $99.25 billion. The Firm provides its clients with fuel for transportation, energy for heat and light, lubricants and the petrochemicals products used to make everyday items, including paints, clothes and packaging. It currently has negative earnings. The Firm operates in three business divisions: Upstream, Downstream and Rosneft.

#focuskw=’BP plc (ADR) (NYSE:BP)’##metadesc=’Things aren’t looking all that up for BP plc (ADR) (NYSE:BP) this morning, after the company announced that it saw losses of $3.3 billion in the fourth quarter of last year, and $6.48 billion for 2015 as a whole. This compares negatively to a profit of $3.78 billion the year prior (2014). This has caused investors to become quite bearish of the stock as shares are down over 8.5% in pre-market trading this morning.

To make matters worst, BP plc (ADR) (NYSE:BP) says they will be cutting thousands of more jobs, due to the downturn. The cause of this less than spectactular quarter? Slumping oil prices! If oil prices continue their slump, investors worry that the company will need to cut their dividend payments which currently stand at $0.10 per share.

The $6.48 billion annual loss surpasses that of 2010 in which the company reported a loss of $4.9 billion — the highest loss up to this date. ‘##metarobot=’index’##newskw=’Timkensteel Corp news,Timkensteel Corp – (NYSE:TMST),NYSE:TMST Analyst rating analysis,Stock Analysis,Outlook and potential,TMST Price change and trend,TMST stock update’##sitemap=’include’##skipsocial##stockticker=’NYSE:BP’#

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