BP (NYSE:BP) Cut to “Neutral” at Redburn Atlantic

Redburn Atlantic lowered shares of BP (NYSE:BP) from a buy rating to a neutral rating in a research report report published on Tuesday, MarketBeat reports.

A number of other equities analysts have also commented on BP. Wells Fargo & Company reduced their price target on shares of BP from $41.00 to $39.00 and set an equal weight rating on the stock in a research report on Wednesday, July 31st. Wolfe Research began coverage on shares of BP in a research report on Thursday, July 18th. They issued an outperform rating and a $57.00 price target on the stock. StockNews.com lowered shares of BP from a buy rating to a hold rating in a research report on Tuesday, September 17th. Argus upgraded shares of BP to a hold rating in a research report on Thursday, August 1st. Finally, HSBC lowered shares of BP from a buy rating to a hold rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $43.73.

BP Stock Up 2.1 %

Shares of BP stock opened at $31.43 on Tuesday. The stock has a market cap of $8.65 billion, a P/E ratio of 9.85, a price-to-earnings-growth ratio of 4.27 and a beta of 0.64. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.24 and a quick ratio of 0.95. The stock has a fifty day moving average price of $33.44 and a 200 day moving average price of $35.90. BP has a one year low of $30.52 and a one year high of $40.84.

BP (NYSE:BP) last issued its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.08. BP had a net margin of 3.60% and a return on equity of 13.83%. The business had revenue of $47.30 billion for the quarter, compared to analyst estimates of $55.82 billion. During the same period in the previous year, the business earned $0.89 EPS. The firm’s revenue was down 2.6% on a year-over-year basis. Analysts predict that BP will post 3.85 earnings per share for the current year.

BP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 9th were given a dividend of $0.48 per share. This is an increase from BP’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 6.11%. BP’s dividend payout ratio is currently 59.56%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new position in BP during the second quarter worth $75,000. Magnolia Capital Advisors LLC acquired a new position in BP during the second quarter worth $237,000. EverSource Wealth Advisors LLC boosted its holdings in BP by 3.4% during the second quarter. EverSource Wealth Advisors LLC now owns 15,087 shares of the oil and gas exploration company’s stock worth $534,000 after purchasing an additional 498 shares during the last quarter. Gabelli Funds LLC boosted its holdings in BP by 2.2% during the second quarter. Gabelli Funds LLC now owns 360,050 shares of the oil and gas exploration company’s stock worth $12,998,000 after purchasing an additional 7,850 shares during the last quarter. Finally, Waters Parkerson & CO. LLC acquired a new position in BP during the second quarter worth $264,000. Institutional investors and hedge funds 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.