|Bid||39.33 x 1700|
|Ask||39.35 x 600|
|Day's range||39.51 - 40.02|
|52-week range||33.10 - 44.62|
|PE ratio (TTM)||38.62|
|Forward dividend & yield||2.40 (6.02%)|
|1y target est||44.64|
Riding on improving commodity prices, stronger production outlook and healthier cash flows, the Big Oil firms look poised to continue the momentum in the coming years.
Rising shale production and dwindling inventories make it difficult for OPEC and its allies to comply with the oil production curtail deal.
In this series so far, we have examined BP’s (BP) 4Q17 earnings versus estimates. In this part, we’ll consider the analyst ratings for BP after 4Q17 earnings. Of the total, five analysts have assigned “buy” or “strong buy” ratings, five have assigned “hold” ratings, and one has assigned a “sell” rating on the stock.
In the previous part, we looked at changes in ExxonMobil’s (XOM) stock price forecast. ExxonMobil trades at a forward PE (price-to-earnings) ratio of 18.0x, which is above the peer average of 15.2x. Chevron (CVX) and Suncor Energy (SU) are also trading above the average forward PE ratio at 18.5x and 22.8x, respectively.
Chevron’s (CVX) earnings improved in 4Q17 compared to 4Q16. Chevron’s adjusted Upstream segment earnings rose from $924.0 million in 4Q16 to ~$2.0 billion in 4Q17. Overall, Chevron’s upstream production grew from 2.67 million barrels of oil equivalent per day (or MMboepd) in 4Q16 to 2.74 MMboepd in 4Q17.
BP delivered a relatively strong set of earnings, but was hit hard by one-time costs from the U.S. tax overhaul and the Gulf of Mexico oil spill, as it seeks to consolidate its position among the elite ...