BP p.l.c. (NYSE:BP) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of BP p.l.c. (NYSE:BP) have earned a consensus rating of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $41.10.

Several brokerages have weighed in on BP. BNP Paribas lowered BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upgraded shares of BP to a “strong-buy” rating in a research report on Friday, October 11th. Wells Fargo & Company decreased their target price on shares of BP from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Piper Sandler reduced their price objective on BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Finally, StockNews.com downgraded BP from a “buy” rating to a “hold” rating in a research note on Friday.

BP Stock Performance

BP stock opened at $29.09 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 0.94. BP has a 12 month low of $27.82 and a 12 month high of $40.40. The company has a fifty day moving average price of $29.49 and a two-hundred day moving average price of $32.29. The company has a market cap of $77.73 billion, a PE ratio of 30.62, a P/E/G ratio of 2.13 and a beta of 0.64.

BP (NYSE:BP) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.05. The firm had revenue of $47.25 billion for the quarter, compared to analyst estimates of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. BP’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. Research analysts expect that BP will post 3.55 earnings per share for the current year.

BP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 8th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.92 annualized dividend and a dividend yield of 6.60%. BP’s dividend payout ratio is currently 200.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Strategic Blueprint LLC lifted its stake in BP by 2.6% during the second quarter. Strategic Blueprint LLC now owns 13,200 shares of the oil and gas exploration company’s stock valued at $477,000 after buying an additional 330 shares in the last quarter. Rothschild Investment LLC acquired a new position in BP in the 2nd quarter worth approximately $2,620,000. Graypoint LLC grew its position in BP by 11.7% during the 2nd quarter. Graypoint LLC now owns 8,261 shares of the oil and gas exploration company’s stock worth $298,000 after purchasing an additional 865 shares in the last quarter. Nilsine Partners LLC lifted its holdings in shares of BP by 6.8% in the second quarter. Nilsine Partners LLC now owns 20,388 shares of the oil and gas exploration company’s stock valued at $736,000 after purchasing an additional 1,301 shares in the last quarter. Finally, Summit Financial LLC boosted its position in shares of BP by 101.5% in the second quarter. Summit Financial LLC now owns 14,654 shares of the oil and gas exploration company’s stock worth $529,000 after buying an additional 7,383 shares during the period. 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.