BP (NYSE:BP) Upgraded to Overweight at JPMorgan Chase & Co.

BP (NYSE:BP – Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Wednesday.

A number of other equities analysts have also recently commented on BP. Wall Street Zen upgraded BP from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Weiss Ratings raised shares of BP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of BP in a research note on Friday, September 4th. TD Cowen boosted their target price on shares of BP from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Finally, Zacks Research upgraded shares of BP from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.59.

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BP Stock Performance

NYSE BP traded up $1.20 during trading hours on Wednesday, hitting $44.30. 1,280,976 shares of the company’s stock traded hands, compared to its average volume of 10,936,090. The firm has a market capitalization of $116.04 billion, a P/E ratio of 21.60, a P/E/G ratio of 0.50 and a beta of 0.15. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average price is $43.53 and its two-hundred day moving average price is $43.31. BP has a 52 week low of $32.72 and a 52 week high of $48.27.

BP (NYSE:BP – Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.35. BP had a net margin of 2.49% and a return on equity of 16.63%. The firm had revenue of $69.11 billion during the quarter, compared to analysts’ expectations of $57.89 billion. During the same period in the prior year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 106.1% compared to the same quarter last year. Equities research analysts predict that BP will post 6.61 EPS for the current year.

Institutional Investors Weigh In On BP

Several institutional investors have recently bought and sold shares of the company. Financial Life Planners acquired a new stake in shares of BP during the first quarter worth about $39,000. Security National Bank of Sioux City Iowa IA purchased a new stake in BP during the 2nd quarter worth approximately $36,000. Gill Capital Partners LLC grew its stake in shares of BP by 53.2% in the second quarter. Gill Capital Partners LLC now owns 1,376 shares of the oil and gas exploration company’s stock worth $51,000 after acquiring an additional 478 shares in the last quarter. Community Bank N.A. increased its position in shares of BP by 237.0% during the second quarter. Community Bank N.A. now owns 1,685 shares of the oil and gas exploration company’s stock worth $62,000 after acquiring an additional 1,185 shares during the period. Finally, Trust Co. of Vermont purchased a new position in BP in the second quarter valued at $73,000. 11.01% of the stock is currently owned by institutional investors and hedge funds.

BP Company Profile

(Get Free Report)

BP p.l.c. is a global integrated energy company headquartered in London, England. Its operations span the energy value chain, including exploration and production of oil and natural gas, refining, fuel marketing, energy trading and transportation. BP also produces and markets lubricants through its Castrol brand and supplies fuels through retail networks operating under brands such as BP, Aral and ampm.

The company has operations and business relationships across multiple regions, including the Americas, Europe, the Middle East, Africa and Asia-Pacific.

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