BP p.l.c. (NYSE:BP) Receives $36.11 Consensus Target Price from Analysts
BP p.l.c. (NYSE:BP) has been given a consensus rating of “Buy” by the twenty-five brokerages that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $36.10.
Several research firms recently weighed in on BP. Jefferies Group LLC restated a “hold” rating and set a $35.90 price target on shares of BP p.l.c. in a research report on Friday. Bank of America Corporation lowered BP p.l.c. from a “neutral” rating to an “underperform” rating in a research report on Friday, June 30th. Argus lifted their price target on BP p.l.c. from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, June 1st. Zacks Investment Research upgraded BP p.l.c. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, J P Morgan Chase & Co restated an “overweight” rating on shares of BP p.l.c. in a research report on Monday, June 12th.
A number of hedge funds have recently bought and sold shares of the stock. Beese Fulmer Investment Management Inc. boosted its stake in BP p.l.c. by 3.0% in the second quarter. Beese Fulmer Investment Management Inc. now owns 12,223 shares of the oil and gas exploration company’s stock worth $424,000 after buying an additional 355 shares during the period. Trust Co. of Vermont boosted its stake in BP p.l.c. by 2.5% in the second quarter. Trust Co. of Vermont now owns 6,863 shares of the oil and gas exploration company’s stock worth $238,000 after buying an additional 165 shares during the period. Kempner Capital Management Inc. boosted its stake in BP p.l.c. by 4.8% in the second quarter. Kempner Capital Management Inc. now owns 148,384 shares of the oil and gas exploration company’s stock worth $5,142,000 after buying an additional 6,748 shares during the period. Cornerstone Investment Partners LLC boosted its stake in BP p.l.c. by 0.5% in the second quarter. Cornerstone Investment Partners LLC now owns 30,491 shares of the oil and gas exploration company’s stock worth $1,057,000 after buying an additional 148 shares during the period. Finally, First Command Bank boosted its stake in BP p.l.c. by 65.0% in the second quarter. First Command Bank now owns 7,510 shares of the oil and gas exploration company’s stock worth $259,000 after buying an additional 2,958 shares during the period. Institutional investors own 10.02% of the company’s stock.
Shares of BP p.l.c. (NYSE:BP) traded up 0.66% during trading on Tuesday, hitting $34.95. The company had a trading volume of 3,131,327 shares. BP p.l.c. has a 1-year low of $32.50 and a 1-year high of $38.68. The firm has a market capitalization of $114.55 billion, a P/E ratio of 52.01 and a beta of 0.94. The company’s 50 day moving average is $35.80 and its 200 day moving average is $35.41.
BP p.l.c. (NYSE:BP) last released its quarterly earnings results on Tuesday, May 2nd. The oil and gas exploration company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.08. BP p.l.c. had a return on equity of 3.72% and a net margin of 1.06%. The company had revenue of $55.86 billion for the quarter, compared to analyst estimates of $59.87 billion. During the same period in the previous year, the company posted $0.17 earnings per share. The firm’s revenue was up 45.1% on a year-over-year basis. Analysts anticipate that BP p.l.c. will post $1.63 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, May 12th were paid a $0.595 dividend. This represents a $2.38 annualized dividend and a dividend yield of 6.81%. The ex-dividend date was Wednesday, May 10th. BP p.l.c.’s dividend payout ratio is currently 366.16%.
BP p.l.c. Company Profile
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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