BP p.l.c. (NYSE:BP) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of BP p.l.c. (NYSE:BP) have received a consensus rating of “Moderate Buy” from the eighteen research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and three have given a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $44.23.

BP has been the topic of a number of research analyst reports. Piper Sandler reiterated a “neutral” rating and set a $43.00 target price on shares of BP in a report on Wednesday, July 17th. Argus raised BP to a “hold” rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of BP from a “buy” rating to a “hold” rating in a research report on Tuesday, September 17th. HSBC lowered shares of BP from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of BP in a research note on Friday, June 14th.

BP Trading Up 0.7 %

BP opened at $32.86 on Tuesday. The firm has a market capitalization of $91.01 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 3.96 and a beta of 0.64. BP has a one year low of $30.67 and a one year high of $40.84. The business has a 50 day simple moving average of $33.65 and a two-hundred day simple moving average of $35.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.24 and a quick ratio of 0.95.

BP (NYSE:BP) last released its quarterly 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 analysts’ expectations of $55.82 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts predict that BP will post 3.96 EPS for the current year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 9th were given a $0.48 dividend. This is a positive change from BP’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.92 dividend on an annualized basis and a yield of 5.84%. BP’s payout ratio is 59.56%.

Institutional Investors Weigh In On BP

Several institutional investors and hedge funds have recently added to or reduced their stakes in BP. LRI Investments LLC bought a new position in shares of BP during the 1st quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in BP in the second quarter worth about $33,000. Quent Capital LLC purchased a new stake in shares of BP during the 2nd quarter valued at about $38,000. Guardian Wealth Management Inc. lifted its stake in shares of BP by 576.0% in the 4th quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 962 shares during the period. Finally, Independence Bank of Kentucky boosted its holdings in shares of BP by 85.7% in the second quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company’s stock worth $47,000 after buying an additional 600 shares during the last quarter. 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.