BP (NYSE:BP – Get Free Report) had its price target lifted by equities researchers at Piper Sandler from $42.00 to $43.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas exploration company’s stock. Piper Sandler’s price objective would suggest a potential upside of 2.66% from the stock’s previous close.
Several other brokerages have also recently issued reports on BP. Argus upgraded BP from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Monday, May 11th. BNP Paribas Exane set a $57.00 price objective on BP and gave the company an “outperform” rating in a report on Friday, April 17th. Mizuho set a $53.00 target price on BP in a report on Wednesday. Wall Street Zen raised shares of BP from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, UBS Group raised shares of BP from a “neutral” rating to a “buy” rating in a report on Wednesday, April 15th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.36.
View Our Latest Stock Report on BP
BP Stock Performance
BP (NYSE:BP – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.35. BP had a net margin of 2.49% and a return on equity of 16.63%. The business had revenue of $69.11 billion during the quarter, compared to analysts’ expectations of $57.89 billion. During the same quarter in the previous year, the company earned $0.90 EPS. The business’s revenue was up 106.1% on a year-over-year basis. Equities research analysts expect that BP will post 5.78 earnings per share for the current fiscal year.
Institutional Trading of BP
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Life Planners bought a new position in BP during the 1st quarter worth approximately $39,000. Triumph Capital Management bought a new stake in shares of BP in the 3rd quarter valued at $43,000. LRI Investments LLC increased its position in shares of BP by 76.2% during the fourth quarter. LRI Investments LLC now owns 1,276 shares of the oil and gas exploration company’s stock worth $44,000 after buying an additional 552 shares during the period. WFA of San Diego LLC bought a new position in BP during the second quarter worth $46,000. Finally, Ameriflex Group Inc. lifted its holdings in BP by 39.1% in the fourth quarter. Ameriflex Group Inc. now owns 1,808 shares of the oil and gas exploration company’s stock valued at $63,000 after buying an additional 508 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.
More BP News
Here are the key news stories impacting BP this week:
- Positive Sentiment: Gas expansion in Trinidad and Tobago: BP agreed to acquire Woodside Energy’s 70% stake in the Calypso project, giving it full ownership and operatorship of the early-stage deepwater development. The deal could strengthen BP’s long-term gas position and regional control, although returns remain dependent on project development and execution. BP to acquire Woodside’s stake in Calypso project
- Positive Sentiment: Solid results and shareholder returns: BP recently reported quarterly earnings above analysts’ expectations, with revenue more than doubling year over year, and raised its interim dividend. The stock has also delivered strong gains over the year, supporting the investment case despite valuation concerns. BP Sells North Sea Assets, Is The Stock Fully Priced?
- Neutral Sentiment: Portfolio simplification: BP is marketing its North Sea oil and gas business after more than six decades in the region and is also pursuing a sale of Archaea Energy, its renewable natural gas business. The moves may improve profitability and focus capital on higher-priority assets, but they also reduce diversification and could limit future production growth. BP to sell landfill RNG business Archaea Energy
- Neutral Sentiment: Brazil growth potential: A proposed megaproject could help establish Brazil as a core growth region for BP into the 2030s, but the opportunity remains prospective and dependent on exploration, approvals and development success. This Megaproject Could Keep Brazil’s Oil Boom Running Deep Into The 2030s
- Negative Sentiment: Whiting refinery labor disruption: A nearly five-month lockout at BP’s Whiting, Indiana, refinery highlights ongoing labor and operational uncertainty that could pressure refining output, costs and near-term earnings. Inside the nearly five-month labor lockout at BP’s Whiting refinery
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.
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