Credit Suisse Group upgraded shares of BP (NYSE:BP) from a neutral rating to an outperform rating in a research report released on Monday, Briefing.com reports.
A number of other brokerages have also recently issued reports on BP. JPMorgan Chase & Co. restated an overweight rating on shares of BP in a research note on Wednesday, July 15th. Goldman Sachs Group reiterated a buy rating on shares of BP in a research report on Tuesday, July 7th. Barclays reiterated an overweight rating on shares of BP in a research report on Wednesday, July 1st. Societe Generale raised BP from a hold rating to a buy rating in a report on Wednesday, August 5th. Finally, Piper Sandler raised BP from a neutral rating to an overweight rating and boosted their price objective for the stock from $28.00 to $31.00 in a report on Monday, August 17th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. BP has a consensus rating of Hold and an average price target of $30.74.
Shares of BP stock opened at $19.96 on Monday. BP has a 52-week low of $15.51 and a 52-week high of $40.08. The stock’s 50-day simple moving average is $21.80 and its 200 day simple moving average is $23.45. The stock has a market capitalization of $67.39 billion, a P/E ratio of -3.07 and a beta of 0.71. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.08 and a current ratio of 1.30.
BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, August 4th. The oil and gas exploration company reported ($1.98) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.99) by ($0.99). BP had a negative net margin of 9.45% and a negative return on equity of 1.14%. The firm had revenue of $31.68 billion during the quarter, compared to the consensus estimate of $38.70 billion. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The company’s revenue was down 56.4% on a year-over-year basis. Equities research analysts forecast that BP will post -1.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, August 14th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 6.21%. The ex-dividend date is Thursday, August 13th. BP’s dividend payout ratio is currently 42.03%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Bartlett & Co. LLC purchased a new stake in shares of BP during the first quarter valued at approximately $198,000. Truvestments Capital LLC bought a new position in shares of BP during the first quarter valued at approximately $50,000. Bourgeon Capital Management LLC raised its holdings in shares of BP by 78.4% during the first quarter. Bourgeon Capital Management LLC now owns 22,525 shares of the oil and gas exploration company’s stock valued at $549,000 after acquiring an additional 9,900 shares in the last quarter. Transcend Wealth Collective LLC raised its holdings in shares of BP by 3.7% during the first quarter. Transcend Wealth Collective LLC now owns 27,355 shares of the oil and gas exploration company’s stock valued at $667,000 after acquiring an additional 977 shares in the last quarter. Finally, XML Financial LLC raised its holdings in shares of BP by 10.0% during the first quarter. XML Financial LLC now owns 129,246 shares of the oil and gas exploration company’s stock valued at $3,152,000 after acquiring an additional 11,782 shares in the last quarter. 8.51% of the stock is owned by institutional investors and hedge funds.
BP Company Profile
BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
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