BP PLC (BP) Receives Average Rating of “Buy” from Brokerages
Shares of BP PLC (NYSE:BP) have received an average rating of “Buy” from the eighteen research firms that are currently covering the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $38.07.
Several research analysts recently weighed in on BP shares. Vetr upgraded shares of BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.87 price target for the company in a research report on Monday, August 1st. reiterated a “buy” rating on shares of BP PLC in a report on Tuesday, August 16th. Jefferies Group reiterated a “hold” rating on shares of BP PLC in a report on Thursday, September 8th. Zacks Investment Research upgraded shares of BP PLC from a “sell” rating to a “hold” rating in a report on Friday, October 21st. Finally, Collins Stewart reiterated a “buy” rating on shares of BP PLC in a report on Sunday, September 11th.
A number of institutional investors have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in shares of BP PLC during the second quarter valued at approximately $257,496,000. Franklin Resources Inc. boosted its position in shares of BP PLC by 19.4% in the second quarter. Franklin Resources Inc. now owns 35,849,141 shares of the oil and gas exploration company’s stock valued at $1,273,003,000 after buying an additional 5,815,906 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of BP PLC by 173.3% in the second quarter. BlackRock Advisors LLC now owns 7,208,886 shares of the oil and gas exploration company’s stock valued at $255,988,000 after buying an additional 4,571,568 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of BP PLC during the second quarter valued at approximately $157,139,000. Finally, Acadian Asset Management LLC boosted its position in shares of BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock valued at $263,671,000 after buying an additional 3,405,646 shares in the last quarter. 11.71% of the stock is owned by institutional investors.
Shares of BP PLC (NYSE:BP) opened at 34.27 on Wednesday. BP PLC has a one year low of $27.01 and a one year high of $37.28. The company has a 50 day moving average price of $34.84 and a 200-day moving average price of $34.08. The stock’s market cap is $108.02 billion.
BP PLC (NYSE:BP) last released its quarterly earnings results on Tuesday, November 1st. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.05. BP PLC had a negative net margin of 2.03% and a positive return on equity of 2.48%. The firm earned $48.04 billion during the quarter, compared to the consensus estimate of $50.51 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The company’s revenue for the quarter was down 16.2% on a year-over-year basis. Equities analysts predict that BP PLC will post $1.10 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Investors of record on Friday, November 11th will be given a dividend of $0.595 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.94%. BP PLC’s payout ratio is currently -195.08%.
About BP PLC
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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