BP (NYSE:BP) Shares Gap Down – What’s Next?

Shares of BP p.l.c. (NYSE:BP) gapped down prior to trading on Friday . The stock had previously closed at $47.63, but opened at $44.60. BP shares last traded at $43.8350, with a volume of 3,100,920 shares changing hands.

Trending Headlines about BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP told investors it expects “exceptional” oil trading results for Q1 as market volatility and a sharp rise in crude prices boosted trading income — a near-term earnings tailwind. BP Expects ‘Exceptional’ Oil Trading Results for Q1
• Positive Sentiment: UBS upgraded BP to “buy” and raised its price target (to 700p), citing the new CEO’s opportunity to improve returns — this can support sentiment and attract investor interest. Investment bank upgrades BP with 700p price target as new CEO takes helm
• Positive Sentiment: Analyst write-ups and sector pieces are highlighting BP among integrated energy beneficiaries of high crude prices and disciplined capital allocation, reinforcing positive narrative around cash generation. High Crude Oil Prices: 3 Integrated Energy Stocks to Bet on Right Away
• Neutral Sentiment: BP is a trending stock in retail/analyst traffic; attention alone can boost volatility but doesn’t guarantee direction. Monitor volume and flows. BP p.l.c. (BP) Is a Trending Stock
• Neutral Sentiment: Zacks and other analyst notes reiterate sector themes and provide earnings estimates — useful for modeling but not immediate catalysts. What is Zacks Research’s Estimate for BP Q4 Earnings?
• Negative Sentiment: Legal risk: Kenyan courts have allowed a lawsuit against BP alleging toxic-waste contamination from 1980s exploration that the plaintiffs say caused hundreds of deaths — the case advances in Kenya and creates reputational and litigation risk that could weigh on the stock. BP sued in Kenya over alleged toxic waste from 1980s oil exploration
• Negative Sentiment: Coverage summary: Seeking Alpha also reports the lawsuit alleging more than 500 deaths tied to alleged toxic waste — this additional media focus may amplify investor concern and headline-driven selling. BP sued over 500 deaths in Kenya

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler upped their target price on BP from $44.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Jefferies Financial Group reaffirmed a “hold” rating on shares of BP in a report on Thursday, January 8th. Zacks Research raised BP from a “hold” rating to a “strong-buy” rating in a report on Monday, March 30th. BNP Paribas Exane set a $57.00 target price on BP and gave the company an “outperform” rating in a report on Friday. Finally, Weiss Ratings raised BP from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 24th. Four equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.98.

BP Trading Down 6.4%

The company has a quick ratio of 0.98, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $42.35 and a 200 day moving average of $37.79. The firm has a market cap of $116.95 billion, a PE ratio of -4,457.14, a P/E/G ratio of 0.65 and a beta of 0.21.

BP (NYSE:BP) last posted its quarterly earnings data on Monday, February 9th. The oil and gas exploration company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. BP had a return on equity of 9.68% and a net margin of 0.03%.The business had revenue of $47.38 billion for the quarter, compared to the consensus estimate of $42.19 billion. During the same quarter in the prior year, the business earned $0.44 earnings per share. BP’s revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts anticipate that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, February 20th were paid a $0.4992 dividend. The ex-dividend date was Friday, February 20th. This represents a $2.00 annualized dividend and a yield of 4.5%. BP’s dividend payout ratio is presently -19,700.00%.

Institutional Investors Weigh In On BP

Several institutional investors have recently made changes to their positions in the stock. Sound Shore Management Inc. CT purchased a new stake in shares of BP during the fourth quarter worth $67,890,000. New York State Common Retirement Fund purchased a new stake in shares of BP during the fourth quarter worth $17,768,000. Sagefield Capital LP lifted its position 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 acquiring an additional 274,381 shares in the last quarter. Gabelli Funds LLC lifted its position 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 acquiring an additional 22,100 shares in the last quarter. Finally, Altrius Capital Management Inc lifted its position 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 acquiring an additional 1,669 shares in the last quarter. Hedge funds and other 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.