BP (NYSE:BP) Rating Increased to Hold at Argus

BP (NYSE:BP) was upgraded by Argus to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Piper Sandler lifted their price target on shares of BP from $43.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Jefferies Financial Group reissued a “hold” rating on shares of BP in a research report on Thursday, January 8th. HSBC lowered BP from a “hold” rating to a “reduce” rating and set a $38.50 price target on the stock. in a research report on Thursday, February 12th. Wolfe Research reissued an “outperform” rating and issued a $51.00 target price on shares of BP in a research note on Thursday, December 18th. Finally, Wall Street Zen lowered shares of BP from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.35.

BP Price Performance

Shares of BP opened at $38.57 on Tuesday. The firm has a market capitalization of $101.12 billion, a PE ratio of -3,852.85, a P/E/G ratio of 1.78 and a beta of 0.33. BP has a 52-week low of $25.22 and a 52-week high of $39.51. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 1.26. The stock has a 50 day simple moving average of $35.97 and a 200 day simple moving average of $35.26.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 10th. The oil and gas exploration company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. BP had a net margin of 0.03% and a return on equity of 9.68%. The business had revenue of $47.38 billion for the quarter, compared to analyst estimates of $42.19 billion. During the same period last year, the business posted $0.44 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts predict that BP will post 3.53 EPS for the current fiscal year.

Hedge Funds Weigh In On BP

A number of large investors have recently made changes to their positions in BP. Strategic Advocates LLC bought a new stake in shares of BP during the 3rd quarter worth $25,000. Heartwood Wealth Advisors LLC acquired a new position in BP during the third quarter worth about $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of BP in the second quarter worth about $27,000. YANKCOM Partnership boosted its stake in shares of BP by 1,068.3% in the 4th quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company’s stock valued at $33,000 after purchasing an additional 876 shares in the last quarter. Finally, Triumph Capital Management bought a new stake in shares of BP during the 3rd quarter valued at approximately $43,000. Institutional investors own 11.01% of the company’s stock.

BP Company Profile

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.