BP (NYSE:BP) Rating Reiterated by Erste Group Bank

Erste Group Bank reissued their hold rating on shares of BP (NYSE:BP) in a report published on Friday morning, Benzinga reports.

Other research analysts have also issued research reports about the stock. TD Securities upped their price target on shares of BP from $43.00 to $44.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Scotiabank upped their price target on shares of BP from $45.00 to $47.00 and gave the company a sector outperform rating in a research note on Thursday, April 11th. Jefferies Financial Group raised shares of BP from a hold rating to a buy rating and upped their price objective for the company from $38.60 to $42.30 in a report on Monday, March 4th. Piper Sandler upped their price objective on shares of BP from $40.00 to $43.00 and gave the company a neutral rating in a report on Thursday, April 18th. Finally, Raymond James upped their price objective on shares of BP from $42.00 to $45.00 and gave the company an outperform rating in a report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, BP presently has a consensus rating of Moderate Buy and a consensus price target of $43.88.

BP Trading Up 0.6 %

NYSE:BP opened at $35.12 on Friday. BP has a one year low of $33.52 and a one year high of $40.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.94 and a current ratio of 1.23. The firm has a market cap of $97.83 billion, a P/E ratio of 11.01, a P/E/G ratio of 1.82 and a beta of 0.65. The firm has a 50-day simple moving average of $37.59 and a 200-day simple moving average of $36.50.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, May 7th. The oil and gas exploration company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.06). The firm had revenue of $48.88 billion for the quarter, compared to the consensus estimate of $53.65 billion. BP had a return on equity of 13.49% and a net margin of 4.51%. The company’s revenue was down 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.66 EPS. Equities analysts anticipate that BP will post 4.8 EPS for the current fiscal year.

BP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 17th will be given a dividend of $0.4362 per share. This represents a $1.74 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Thursday, May 16th. BP’s payout ratio is currently 53.92%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BP. Columbia Asset Management boosted its stake in BP by 2.8% during the third quarter. Columbia Asset Management now owns 103,030 shares of the oil and gas exploration company’s stock worth $3,989,000 after buying an additional 2,784 shares during the period. Hollencrest Capital Management boosted its stake in shares of BP by 221.4% in the third quarter. Hollencrest Capital Management now owns 9,000 shares of the oil and gas exploration company’s stock valued at $348,000 after purchasing an additional 6,200 shares during the period. Monograph Wealth Advisors LLC purchased a new position in shares of BP in the third quarter valued at approximately $1,163,000. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in shares of BP in the third quarter valued at approximately $525,000. Finally, Birmingham Capital Management Co. Inc. AL boosted its stake in shares of BP by 12.2% in the third quarter. Birmingham Capital Management Co. Inc. AL now owns 23,295 shares of the oil and gas exploration company’s stock valued at $902,000 after purchasing an additional 2,525 shares during the period. Hedge funds and other institutional investors own 11.01% of the company’s stock.

BP Company Profile

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.