BP (NYSE:BP) Price Target Raised to $58.00 at Scotiabank

BP (NYSE:BP) had its price target hoisted by Scotiabank from $41.00 to $58.00 in a research report report published on Wednesday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the oil and gas exploration company’s stock.

A number of other research analysts also recently commented on BP. Evercore set a $38.00 price target on BP and gave the company an “in-line” rating in a research note on Tuesday, January 6th. Melius Research downgraded BP from a “buy” rating to a “sell” rating and set a $31.00 price target for the company. in a research note on Wednesday, February 11th. UBS Group raised BP from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 15th. Wells Fargo & Company boosted their price target on BP from $39.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Finally, TD Cowen lowered their target price on BP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, February 13th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.39.

BP Stock Up 1.0%

BP stock opened at $46.39 on Wednesday. The company has a market cap of $121.49 billion, a PE ratio of -4,634.37, a price-to-earnings-growth ratio of 0.65 and a beta of 0.21. The business has a 50-day simple moving average of $42.92 and a 200 day simple moving average of $38.12. BP has a 52 week low of $27.20 and a 52 week high of $48.27. The company has a quick ratio of 0.98, a current ratio of 1.26 and a debt-to-equity ratio of 0.74.

BP (NYSE:BP) last posted its quarterly earnings results on Monday, February 9th. The oil and gas exploration company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $47.38 billion during the quarter, compared to the consensus estimate of $42.19 billion. BP had a return on equity of 9.68% and a net margin of 0.03%.BP’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 earnings per share. Sell-side analysts anticipate that BP will post 4.52 EPS for the current fiscal year.

BP Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, February 20th were paid a dividend of $0.4992 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $2.00 annualized dividend and a yield of 4.3%. BP’s payout ratio is presently -19,800.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Sound Shore Management Inc. CT acquired a new position in BP during the fourth quarter worth about $67,890,000. New York State Common Retirement Fund bought a new stake in shares of BP during the fourth quarter worth about $17,768,000. Sagefield Capital LP grew its holdings in shares of BP by 125.2% during the fourth quarter. Sagefield Capital LP now owns 493,556 shares of the oil and gas exploration company’s stock worth $17,141,000 after purchasing an additional 274,381 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of BP by 6.0% during the fourth quarter. Gabelli Funds LLC now owns 392,400 shares of the oil and gas exploration company’s stock worth $13,628,000 after purchasing an additional 22,100 shares during the last quarter. Finally, Altrius Capital Management Inc grew its holdings in shares of BP by 0.6% during the third quarter. Altrius Capital Management Inc now owns 278,305 shares of the oil and gas exploration company’s stock worth $9,590,000 after purchasing an additional 1,669 shares during the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

Key BP News

Here are the key news stories impacting BP this week:

• Positive Sentiment: Analyst upgrades and higher price targets lift sentiment — Scotiabank bumped its BP price target to $58 and set a “sector outperform” rating, signaling ~25% upside from recent levels which supports bullish flows. Read More.
• Positive Sentiment: BNP Paribas recently upgraded BP to Outperform with a $57 target, reflecting optimism that integrated energy names will benefit if oil prices remain elevated. Read More.
• Positive Sentiment: Potential upstream growth in Africa — Gabon’s minister said production-sharing contracts with BP and Exxon could be signed within 4–6 months, offering a pipeline of future production and reserves upside if deals close. Read More.
• Positive Sentiment: Investor-focused research flags BP as value/buy opportunity (Zacks coverage highlights BP as a top-ranked value stock and uses Earnings ESP screening), which can attract value-driven flows. Read More.
• Neutral Sentiment: Q1 preview: BP reports results on Apr 28 with consensus ~ $0.85 per ADS and ~$57.6B revenue; recent beats and stronger refining margins are supportive but the print could swing sentiment depending on downstream performance and guidance. Read More.
• Positive Sentiment: Sector tailwinds — broader energy analyst upgrades and positive commodity sentiment are lifting coverage lists that include BP, which may boost demand for the stock if oil stays firmer. Read More.
• Negative Sentiment: Operational disruption at Whiting refinery: a lockout at BP’s 440,000 bpd Whiting, Indiana refinery has entered its second month with union talks stalled — this raises near-term throughput, margin and cash-flow risk if outages continue. Read More.
• Negative Sentiment: Shareholder tensions on climate transparency and rights ahead of the AGM could produce votes against management on governance/environmental items, posing reputational and governance risk that may pressure the stock. Read More.

About BP

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.