BP (NYSE:BP) PT Raised to $45.00 at Raymond James

BP (NYSE:BP) had its price objective upped by Raymond James from $42.00 to $45.00 in a report released on Monday, Benzinga reports. The firm currently has an outperform rating on the oil and gas exploration company’s stock.

BP has been the subject of a number of other reports. Erste Group Bank upgraded shares of BP from a hold rating to a buy rating in a research note on Wednesday, April 3rd. Scotiabank boosted their price objective on BP from $45.00 to $47.00 and gave the company a sector outperform rating in a research note on Thursday, April 11th. Wells Fargo & Company raised their target price on BP from $38.00 to $42.00 and gave the stock an equal weight rating in a research note on Thursday, April 11th. TD Securities upped their price target on BP from $41.00 to $43.00 and gave the company a buy rating in a research report on Wednesday, February 7th. Finally, Piper Sandler raised their price objective on shares of BP from $38.00 to $40.00 and gave the company a neutral rating in a research report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, BP presently has a consensus rating of Hold and a consensus price target of $43.72.

BP Stock Performance

Shares of BP opened at $37.92 on Monday. BP has a 1 year low of $33.52 and a 1 year high of $40.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.94. The stock’s fifty day moving average price is $37.13 and its two-hundred day moving average price is $36.47. The firm has a market cap of $106.79 billion, a PE ratio of 7.45, a PEG ratio of 1.97 and a beta of 0.68.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas exploration company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.11. The business had revenue of $52.14 billion for the quarter, compared to analysts’ expectations of $53.14 billion. BP had a return on equity of 16.00% and a net margin of 7.15%. The firm’s quarterly revenue was down 24.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 EPS. On average, equities research analysts forecast that BP will post 4.89 EPS for the current year.

BP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, February 16th were given a $0.4362 dividend. This represents a $1.74 annualized dividend and a dividend yield of 4.60%. The ex-dividend date was Thursday, February 15th. BP’s dividend payout ratio (DPR) is 33.79%.

Institutional Investors Weigh In On BP

Several hedge funds have recently bought and sold shares of BP. Cowa LLC raised its position in shares of BP by 10,274.3% during the 1st quarter. Cowa LLC now owns 2,070,297 shares of the oil and gas exploration company’s stock valued at $609,000 after buying an additional 2,050,341 shares in the last quarter. PSquared Asset Management AG bought a new stake in BP during the fourth quarter worth about $50,315,000. New York State Common Retirement Fund boosted its holdings in shares of BP by 32.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,418,113 shares of the oil and gas exploration company’s stock worth $54,909,000 after purchasing an additional 349,766 shares in the last quarter. OLD Mission Capital LLC increased its position in shares of BP by 145.5% during the 4th quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock valued at $23,233,000 after purchasing an additional 388,931 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in shares of BP by 15.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 500,704 shares of the oil and gas exploration company’s stock valued at $17,725,000 after buying an additional 65,425 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors.

About BP

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.