BP (NYSE:BP) Downgraded to Sell Rating by DZ Bank

DZ Bank cut shares of BP (NYSE:BP) from a hold rating to a sell rating in a research note released on Tuesday morning, Marketbeat Ratings reports.

A number of other research firms also recently weighed in on BP. Morgan Stanley decreased their price objective on BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating on shares of BP in a research report on Tuesday, January 14th. StockNews.com cut BP from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Piper Sandler dropped their target price on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Finally, Wells Fargo & Company reduced their price target on shares of BP from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, four have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.76.

BP Stock Up 0.4 %

NYSE BP opened at $34.55 on Tuesday. BP has a twelve month low of $27.82 and a twelve month high of $40.40. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22. The stock has a market cap of $92.50 billion, a PE ratio of 36.37, a PEG ratio of 2.26 and a beta of 0.64. The firm has a 50-day simple moving average of $30.47 and a 200 day simple moving average of $31.34.

BP (NYSE:BP) last released its quarterly earnings data on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.12). BP had a net margin of 1.36% and a return on equity of 12.91%. On average, research analysts forecast that BP will post 3.35 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new position in BP during the third quarter valued at approximately $5,089,000. Bank of New York Mellon Corp boosted its position in shares of BP by 30.1% during the fourth quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company’s stock worth $14,040,000 after purchasing an additional 110,019 shares in the last quarter. Altrius Capital Management Inc increased its position in shares of BP by 16.6% in the 4th quarter. Altrius Capital Management Inc now owns 272,527 shares of the oil and gas exploration company’s stock valued at $8,056,000 after buying an additional 38,751 shares in the last quarter. Integrated Investment Consultants LLC acquired a new stake in BP during the 3rd quarter worth $857,000. Finally, Avior Wealth Management LLC grew its stake in BP by 83.3% in the fourth quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company’s stock valued at $1,577,000 after acquiring an additional 24,252 shares during the period. 11.01% of the stock is currently owned by institutional investors.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.