Brokerages Set BP p.l.c. (BP) Target Price at $36.00
Shares of BP p.l.c. (NYSE:BP) have received an average rating of “Hold” from the twenty-seven brokerages that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $36.55.
A number of equities analysts have recently weighed in on BP shares. TheStreet upgraded BP p.l.c. from a “c” rating to a “b-” rating in a report on Tuesday, May 30th. Argus raised their target price on BP p.l.c. from $36.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, June 1st. Morgan Stanley restated a “buy” rating on shares of BP p.l.c. in a report on Thursday, April 13th. Scotiabank restated a “buy” rating and set a $37.00 target price on shares of BP p.l.c. in a report on Friday, June 30th. Finally, Zacks Investment Research upgraded BP p.l.c. from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 6th.
Several large investors have recently modified their holdings of BP. Massey Quick & Co. LLC raised its stake in shares of BP p.l.c. by 27,575.0% in the first quarter. Massey Quick & Co. LLC now owns 1,107 shares of the oil and gas exploration company’s stock valued at $3,856,000 after buying an additional 1,103 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of BP p.l.c. by 92.4% in the first quarter. Parkside Financial Bank & Trust now owns 2,886 shares of the oil and gas exploration company’s stock valued at $100,000 after buying an additional 1,386 shares during the period. Feltz Wealth PLAN Inc. acquired a new stake in shares of BP p.l.c. during the first quarter valued at $106,000. Burt Wealth Advisors raised its stake in shares of BP p.l.c. by 6.8% in the second quarter. Burt Wealth Advisors now owns 3,136 shares of the oil and gas exploration company’s stock valued at $108,000 after buying an additional 200 shares during the period. Finally, Crestwood Advisors Group LLC acquired a new stake in shares of BP p.l.c. during the first quarter valued at $114,000. 9.95% of the stock is currently owned by institutional investors and hedge funds.
Shares of BP p.l.c. (BP) traded down 0.5652% during mid-day trading on Friday, hitting $36.5423. 4,623,205 shares of the stock were exchanged. BP p.l.c. has a 12 month low of $32.50 and a 12 month high of $38.68. The company has a 50-day moving average price of $34.98 and a 200-day moving average price of $35.02. The stock has a market cap of $120.22 billion, a price-to-earnings ratio of 31.8868 and a beta of 0.94.
BP p.l.c. (NYSE:BP) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.18. The business had revenue of $56.51 billion for the quarter, compared to analysts’ expectations of $56.09 billion. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. Equities analysts expect that BP p.l.c. will post $1.69 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be given a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 6.48%. The ex-dividend date of this dividend is Wednesday, August 9th. BP p.l.c.’s dividend payout ratio (DPR) is presently 206.96%.
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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