BP p.l.c. (NYSE:BP – Get Free Report) was the recipient of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 9,136,996 shares, a decrease of 39.8% from the May 14th total of 15,186,793 shares. Based on an average daily trading volume, of 11,052,826 shares, the short-interest ratio is currently 0.8 days. Approximately 0.4% of the shares of the stock are short sold.
BP Trading Down 1.0%
Shares of BP traded down $0.43 during mid-day trading on Tuesday, reaching $41.16. The company’s stock had a trading volume of 6,545,998 shares, compared to its average volume of 8,423,838. The stock has a market cap of $107.78 billion, a PE ratio of 34.30, a P/E/G ratio of 0.50 and a beta of 0.14. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. BP has a 52 week low of $29.58 and a 52 week high of $48.27. The company’s fifty day moving average price is $44.66 and its two-hundred day moving average price is $40.49.
BP (NYSE:BP – Get Free Report) last issued its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.24. BP had a return on equity of 12.06% and a net margin of 1.62%.The company had revenue of $52.26 billion during the quarter, compared to analysts’ expectations of $48.50 billion. During the same period in the prior year, the business posted $0.53 EPS. BP’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, analysts predict that BP will post 5.37 earnings per share for the current fiscal year.
BP Dividend Announcement
Institutional Trading of BP
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in BP in the 3rd quarter worth approximately $1,352,000. Gabelli Funds LLC increased its holdings in BP by 6.0% in the 4th 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. Sound Shore Management Inc. CT purchased a new stake in BP in the 4th quarter worth approximately $67,890,000. Legacy Financial Advisors Inc. purchased a new position in shares of BP in the third quarter valued at about $793,000. Finally, Milford Funds Ltd. purchased a new position in shares of BP in the fourth quarter worth $8,335,000. Hedge funds and other institutional investors own 11.01% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on BP. UBS Group upgraded BP from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 15th. Scotiabank raised their price target on shares of BP from $41.00 to $58.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. Argus raised shares of BP from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Monday, May 11th. Wells Fargo & Company raised their price target on shares of BP from $39.00 to $54.00 and gave the company an “equal weight” rating in a report on Thursday, April 9th. Finally, Zacks Research downgraded shares of BP from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.14.
View Our Latest Stock Analysis on BP
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.
Featured Stories
- Five stocks we like better than BP
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.
