BP p.l.c. (NYSE:BP) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of BP p.l.c. (NYSE:BP) have been given a consensus rating of “Moderate Buy” by the twenty-four brokerages that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, eleven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $46.1417.

Several equities analysts have recently weighed in on BP shares. TD Cowen lowered their price target on BP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, February 13th. Scotiabank lifted their target price on BP from $41.00 to $58.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd. BNP Paribas Exane set a $57.00 target price on BP and gave the company an “outperform” rating in a research report on Friday, April 17th. Wells Fargo & Company lifted their target price on BP from $39.00 to $54.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Finally, Melius Research downgraded BP from a “buy” rating to a “sell” rating and set a $31.00 target price on the stock. in a research report on Wednesday, February 11th.

Hedge Funds Weigh In On BP

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in BP in the 3rd quarter worth $1,352,000. Gabelli Funds LLC increased its stake in BP by 6.0% in the 4th quarter. Gabelli Funds LLC now owns 392,400 shares of the oil and gas exploration company’s stock worth $13,628,000 after buying an additional 22,100 shares in the last quarter. Jones Financial Companies Lllp increased its stake in BP by 22.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 127,792 shares of the oil and gas exploration company’s stock worth $4,553,000 after buying an additional 23,166 shares in the last quarter. Sound Shore Management Inc. CT purchased a new stake in BP in the 4th quarter worth $67,890,000. Finally, Legacy Financial Advisors Inc. purchased a new stake in BP in the 3rd quarter worth $793,000. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP’s new two-segment structure is designed to streamline operations, sharpen accountability, and support shareholder returns. BP announces two-segment overhaul to simplify operations
• Positive Sentiment: BP continues to win upstream work, including a new three-well UK Continental Shelf drilling contract for Noble, reinforcing activity in its core oil and gas business. Noble Secures New Drilling Contract on the UK Continental Shelf
• Neutral Sentiment: BP also awarded SLB OneSubsea a contract for the Thunder Horse deepwater project, supporting ongoing project execution but not materially changing the near-term outlook. SLB OneSubsea Wins Contract for BP’s Thunder Horse Deepwater Project
• Neutral Sentiment: BP’s short interest fell sharply in May, which may reduce bearish pressure on the stock.
• Negative Sentiment: Investor concerns about BP’s boardroom changes and the chair’s removal are creating governance uncertainty. What next for BP? Leadership exits test investor confidence in board oversight
• Negative Sentiment: BP is facing added scrutiny from a law firm investigation and criticism over dividends and climate policy, which could keep sentiment subdued. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of BP p.l.c. – BP

BP Price Performance

NYSE BP opened at $43.00 on Thursday. The business’s fifty day moving average price is $45.04 and its 200-day moving average price is $40.32. The stock has a market capitalization of $112.61 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 0.52 and a beta of 0.14. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.22 and a quick ratio of 0.87. BP has a 1-year low of $29.58 and a 1-year high of $48.27.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.24. The firm had revenue of $52.26 billion for the quarter, compared to analysts’ expectations of $48.50 billion. BP had a return on equity of 12.06% and a net margin of 1.62%.The company’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. On average, equities analysts predict that BP will post 5.35 earnings per share for the current year.

BP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, May 15th will be given a dividend of $0.4992 per share. The ex-dividend date is Friday, May 15th. This represents a $2.00 annualized dividend and a yield of 4.6%. BP’s payout ratio is 165.00%.

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.