BP p.l.c. (NYSE:BP) Receives $44.39 Average Target Price from Brokerages

Shares of BP p.l.c. (NYSE:BP) have been given a consensus recommendation of “Moderate Buy” by the twenty-four brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, eleven have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $44.8231.

A number of equities research analysts recently issued reports on the company. BNP Paribas Exane set a $57.00 target price on BP and gave the company an “outperform” rating in a research note on Friday, April 17th. Royal Bank Of Canada raised BP from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 11th. Wall Street Zen raised BP from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. UBS Group raised BP from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 15th. Finally, TD Cowen decreased their price objective on BP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, February 13th.

BP News Roundup

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP is weighing the sale of some Egyptian gas assets, a move that could help streamline its portfolio, cut debt, and redirect capital toward higher-return projects. BP considers sale of some Egyptian gas assets, sources say
• Positive Sentiment: BP is reportedly reducing its pipeline gas trading team while expanding LNG trading, which suggests a shift toward a faster-growing, potentially more profitable part of the gas business. BP to cut pipeline gas trading team as LNG focus grows, sources say
• Positive Sentiment: Analysts are highlighting BP’s exposure to stronger crude prices, which should support upstream earnings and cash flow if high oil prices persist. How High Oil Prices are Supporting BP’s Energy Operations
• Positive Sentiment: BP’s recent entry into Uzbekistan’s upstream sector adds new exploration upside and expands its global footprint, which investors may view as a long-term growth positive. BP Enters Uzbekistan Upstream As Valuation Signals Potential Upside For Investors
• Neutral Sentiment: BP and the union are set to resume labor contract talks to end the Indiana refinery lockout, which could reduce operational disruption but does not yet resolve the dispute. BP, Union Set to Resume Labor Contract Talks to End Indiana Refinery’s 2-Month Lockout — OPIS
• Neutral Sentiment: Commentary pieces arguing BP may be undervalued are supportive in tone, but they do not provide a clear new catalyst by themselves. Is BP (BP) Stock Undervalued Right Now?

BP Price Performance

BP stock opened at $44.37 on Friday. BP has a 1 year low of $28.41 and a 1 year high of $48.27. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.22. The stock’s 50 day moving average price is $44.99 and its 200 day moving average price is $39.31. The firm has a market cap of $116.19 billion, a P/E ratio of 36.97, a PEG ratio of 0.56 and a beta of 0.18.

BP (NYSE:BP) last posted its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.24. BP had a return on equity of 12.06% and a net margin of 1.62%.The firm had revenue of $52.26 billion for the quarter, compared to analyst estimates of $48.50 billion. During the same quarter in the prior year, the company earned $0.53 EPS. BP’s revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that BP will post 5.09 earnings per share for the current fiscal year.

BP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.4992 per share. The ex-dividend date is Friday, May 15th. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. BP’s dividend payout ratio (DPR) is 165.00%.

Institutional Investors Weigh In On BP

Several hedge funds have recently made changes to their positions in the business. Sound Shore Management Inc. CT acquired a new stake in shares of BP during the fourth quarter worth $67,890,000. Public Employees Retirement System of Ohio acquired a new stake in shares of BP during the first quarter worth $28,136,000. New York State Common Retirement Fund acquired a new stake in shares of BP during the fourth quarter worth $17,768,000. Sagefield Capital LP boosted its holdings in shares of BP by 125.2% during the fourth quarter. Sagefield Capital LP now owns 493,556 shares of the oil and gas exploration company’s stock worth $17,141,000 after purchasing an additional 274,381 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of BP by 20.7% in the 1st quarter. Bank of New York Mellon Corp now owns 432,646 shares of the oil and gas exploration company’s stock worth $20,334,000 after buying an additional 74,243 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

About BP

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.