BP p.l.c. (NYSE:BP) Receives $44.48 Consensus PT from Brokerages

Shares of BP p.l.c. (NYSE:BP) have been assigned an average rating of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, six have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $44.23.

BP has been the topic of several research reports. Barclays raised shares of BP to a “strong-buy” rating in a research note on Wednesday, July 31st. Scotiabank decreased their price target on shares of BP from $47.00 to $42.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. StockNews.com downgraded shares of BP from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 29th. Argus raised shares of BP to a “hold” rating in a research note on Thursday. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of BP in a research note on Friday, June 14th.

BP Trading Down 2.0 %

Shares of BP stock opened at $34.08 on Monday. BP has a 1 year low of $33.52 and a 1 year high of $40.84. The firm has a market cap of $94.41 billion, a PE ratio of 10.68, a PEG ratio of 2.05 and a beta of 0.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.24 and a quick ratio of 0.94. The company has a 50 day simple moving average of $35.69 and a two-hundred day simple moving average of $36.57.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.92 by $0.08. The firm had revenue of $47.30 billion for the quarter, compared to the consensus estimate of $55.82 billion. BP had a net margin of 3.60% and a return on equity of 13.83%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. Analysts expect that BP will post 4.24 earnings per share for the current fiscal year.

BP Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 9th will be given a dividend of $0.48 per share. This is an increase from BP’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date is Friday, August 9th. BP’s payout ratio is presently 59.56%.

Institutional Trading of BP

A number of hedge funds have recently modified their holdings of BP. PSquared Asset Management AG bought a new stake in shares of BP during the 4th quarter valued at $50,315,000. OLD Mission Capital LLC boosted its holdings 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 buying an additional 388,931 shares in the last quarter. Beaumont Financial Advisors LLC bought a new stake in shares of BP during the 1st quarter valued at $6,682,000. Wedge Capital Management L L P NC boosted its holdings in shares of BP by 26.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 629,568 shares of the oil and gas exploration company’s stock valued at $22,727,000 after buying an additional 132,750 shares in the last quarter. Finally, Rothschild Investment LLC bought a new stake in shares of BP during the 2nd quarter valued at $2,620,000. Institutional investors own 11.01% of the company’s stock.

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.