BP (NYSE:BP) Price Target Raised to $47.00 at Piper Sandler

BP (NYSE:BP) had its target price lifted by stock analysts at Piper Sandler from $44.00 to $47.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. Piper Sandler’s target price suggests a potential upside of 11.06% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Wolfe Research reissued an “outperform” rating and issued a $51.00 price objective on shares of BP in a report on Thursday, December 18th. Melius Research cut shares of BP from a “buy” rating to a “sell” rating and set a $31.00 price objective on the stock. in a research note on Wednesday, February 11th. Evercore set a $38.00 price target on shares of BP and gave the stock an “in-line” rating in a report on Tuesday, January 6th. Bank of America downgraded shares of BP from a “neutral” rating to an “underperform” rating in a research report on Friday, December 5th. Finally, Freedom Capital cut BP from a “hold” rating to a “strong sell” rating in a report on Thursday, February 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, BP has a consensus rating of “Hold” and a consensus target price of $37.58.

BP Stock Up 1.8%

Shares of BP stock traded up $0.76 during trading hours on Thursday, reaching $42.32. 8,624,616 shares of the company’s stock were exchanged, compared to its average volume of 10,792,284. The stock has a market cap of $110.96 billion, a PE ratio of -4,226.27, a PEG ratio of 1.84 and a beta of 0.31. The company has a current ratio of 1.26, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. BP has a 1 year low of $25.22 and a 1 year high of $42.48. The stock’s fifty day moving average price is $37.40 and its two-hundred day moving average price is $35.81.

BP (NYSE:BP) last issued its earnings results on Tuesday, February 10th. The oil and gas exploration company reported $10.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $9.43. The company had revenue of $47.38 billion during the quarter, compared to analyst estimates of $42.19 billion. BP had a return on equity of 9.68% and a net margin of 0.03%.The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Research analysts predict that BP will post 3.53 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. ORG Partners LLC grew its holdings in shares of BP by 16.2% in the fourth quarter. ORG Partners LLC now owns 2,038 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 284 shares during the period. First Horizon Corp raised its position in shares of BP by 8.1% during the 4th quarter. First Horizon Corp now owns 3,933 shares of the oil and gas exploration company’s stock valued at $137,000 after buying an additional 296 shares during the period. GAMMA Investing LLC lifted its holdings in BP by 5.2% in the fourth quarter. GAMMA Investing LLC now owns 6,597 shares of the oil and gas exploration company’s stock valued at $229,000 after acquiring an additional 324 shares during the last quarter. Atlas Brown Inc. raised its position in BP by 0.9% in the fourth quarter. Atlas Brown Inc. now owns 36,721 shares of the oil and gas exploration company’s stock valued at $1,275,000 after purchasing an additional 330 shares during the period. Finally, United Community Bank lifted its stake in shares of BP by 1.3% in the 4th quarter. United Community Bank now owns 29,456 shares of the oil and gas exploration company’s stock valued at $1,023,000 after purchasing an additional 370 shares during the last quarter. Hedge funds and other institutional investors own 11.01% of the company’s stock.

BP Company Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.