BP PLC (BP) Upgraded at Credit Suisse Group AG
BP PLC (NYSE:BP) was upgraded by Credit Suisse Group AG from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday.
A number of other equities research analysts have also recently commented on BP. Societe Generale cut BP PLC from a “buy” rating to a “hold” rating in a research report on Wednesday, November 2nd. Deutsche Bank AG reaffirmed a “neutral” rating on shares of BP PLC in a research note on Monday. Barclays PLC reaffirmed a “buy” rating on shares of BP PLC in a research note on Thursday, October 6th. Vetr raised shares of BP PLC from a “hold” rating to a “strong-buy” rating and set a $42.32 price target on the stock in a research note on Thursday, October 27th. Finally, BNP Paribas reaffirmed an “outperform” rating on shares of BP PLC in a research note on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $37.48.
BP PLC (NYSE:BP) traded up 4.56% on Wednesday, hitting $35.05. The stock had a trading volume of 7,970,551 shares. The stock’s 50-day moving average is $34.77 and its 200 day moving average is $34.13. The firm’s market capitalization is $110.48 billion. BP PLC has a 1-year low of $27.01 and a 1-year high of $37.28.
BP PLC (NYSE:BP) last posted its earnings results on Tuesday, November 1st. The oil and gas exploration company reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.05. BP PLC had a positive return on equity of 2.48% and a negative net margin of 2.03%. The firm had revenue of $48.04 billion for the quarter, compared to analysts’ expectations of $50.51 billion. During the same period last year, the firm earned $0.60 EPS. The company’s quarterly revenue was down 16.2% on a year-over-year basis. On average, equities research analysts predict that BP PLC will post $1.10 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, November 11th will be issued a dividend of $0.595 per share. The ex-dividend date is Tuesday, November 8th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 7.10%. BP PLC’s dividend payout ratio is currently -195.08%.
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Hedge funds have recently made changes to their positions in the company. Washington Trust Bank increased its stake in BP PLC by 165.9% in the second quarter. Washington Trust Bank now owns 3,337 shares of the oil and gas exploration company’s stock valued at $118,000 after buying an additional 2,082 shares during the period. Krilogy Financial LLC increased its stake in BP PLC by 18.8% in the second quarter. Krilogy Financial LLC now owns 3,514 shares of the oil and gas exploration company’s stock valued at $125,000 after buying an additional 555 shares during the period. Farmers National Bank bought a new stake in BP PLC during the second quarter valued at $131,000. Advisory Services Network LLC increased its stake in BP PLC by 121.7% in the third quarter. Advisory Services Network LLC now owns 3,860 shares of the oil and gas exploration company’s stock valued at $136,000 after buying an additional 2,119 shares during the period. Finally, Kistler Tiffany Companies LLC increased its stake in BP PLC by 0.6% in the second quarter. Kistler Tiffany Companies LLC now owns 4,116 shares of the oil and gas exploration company’s stock valued at $146,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 11.71% of the company’s stock.
BP PLC Company Profile
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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