BP (NYSE:BP) Given Hold Rating at TD Securities

BP (NYSE:BP)‘s stock had its “hold” rating reissued by equities research analysts at TD Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $36.00 target price on the oil and gas exploration company’s stock, down from their previous target price of $40.00. TD Securities’ target price suggests a potential upside of 5.05% from the company’s previous close.

A number of other research firms also recently commented on BP. TD Cowen downgraded shares of BP from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a report on Wednesday. Piper Sandler decreased their price objective on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Morgan Stanley decreased their target price on shares of BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Raymond James upped their target price on shares of BP from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Wolfe Research set a $50.00 price objective on shares of BP in a research note on Tuesday, January 14th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, two have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $37.48.

BP Price Performance

Shares of NYSE:BP opened at $34.27 on Wednesday. The company’s fifty day moving average price is $32.49 and its 200 day moving average price is $31.22. BP has a 12 month low of $27.82 and a 12 month high of $40.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 0.97. The firm has a market capitalization of $91.75 billion, a P/E ratio of 428.42, a P/E/G ratio of 1.12 and a beta of 0.58.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, February 11th. The oil and gas exploration company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. As a group, sell-side analysts predict that BP will post 3.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BP

Several large investors have recently bought and sold shares of the stock. Asset Planning Inc acquired a new position in shares of BP in the fourth quarter worth about $40,000. Bank & Trust Co lifted its position in shares of BP by 404.8% in the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock worth $63,000 after purchasing an additional 1,700 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of BP by 41.0% in the fourth quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock worth $66,000 after purchasing an additional 646 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of BP by 58.7% in the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock worth $98,000 after purchasing an additional 1,154 shares in the last quarter. Finally, Wellington Shields Capital Management LLC raised its position in BP by 26.9% during the fourth quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company’s stock valued at $223,000 after acquiring an additional 1,600 shares in the last quarter. 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.