Wall Street Zen upgraded shares of BP (NYSE:BP – Free Report) from a buy rating to a strong-buy rating in a research note published on Saturday morning.
Other equities analysts have also recently issued research reports about the stock. Scotiabank increased their price objective on shares of BP from $41.00 to $58.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. HSBC upgraded BP from a “reduce” rating to a “hold” rating and upped their price target for the company from $35.10 to $45.30 in a research report on Friday, March 20th. TD Cowen lifted their price objective on BP from $40.00 to $41.00 and gave the company a “hold” rating in a report on Thursday. Wells Fargo & Company increased their target price on shares of BP from $39.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Finally, BNP Paribas Exane set a $57.00 price target on shares of BP and gave the company an “outperform” rating in a report on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, BP currently has an average rating of “Moderate Buy” and a consensus target price of $46.98.
Read Our Latest Analysis on BP
BP Stock Up 0.3%
BP (NYSE:BP – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.24. The company had revenue of $52.26 billion during the quarter, compared to the consensus estimate of $48.50 billion. BP had a return on equity of 12.06% and a net margin of 1.62%.The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.53 EPS. On average, research analysts anticipate that BP will post 5.24 earnings per share for the current year.
BP Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, May 15th were given a $0.4992 dividend. This represents a $2.00 annualized dividend and a yield of 4.7%. The ex-dividend date was Friday, May 15th. BP’s dividend payout ratio (DPR) is presently 165.00%.
Institutional Trading of BP
Hedge funds and other institutional investors have recently modified their holdings of the stock. Gabelli Funds LLC increased its position in BP by 6.0% in 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 period. Sumitomo Mitsui Trust Group Inc. raised its holdings in BP by 62.7% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 111,261 shares of the oil and gas exploration company’s stock worth $5,229,000 after purchasing an additional 42,894 shares during the period. Sound Shore Management Inc. CT acquired a new stake in BP during the 4th quarter worth $67,890,000. Milford Funds Ltd. bought a new position in shares of BP during the 4th quarter valued at about $8,335,000. Finally, Winning Points Advisors LLC bought a new position in BP in the fourth quarter valued at approximately $659,000. Institutional investors and hedge funds 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.
Featured Articles
- Five stocks we like better than BP
- The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence
- Is Domino’s Stock Serving Up a Buying Opportunity?
- A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free
- Why Gold Miners Could Be the Market’s Biggest Comeback Story
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.
