BP (NYSE:BP) Reaches New 52-Week Low – Here’s What Happened

BP p.l.c. (NYSE:BP) shares hit a new 52-week low during trading on Monday . The stock traded as low as $26.53 and last traded at $26.80, with a volume of 8133884 shares trading hands. The stock had previously closed at $28.38.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. DZ Bank downgraded BP from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. TD Securities reaffirmed a “hold” rating and set a $36.00 target price (down from $40.00) on shares of BP in a research report on Wednesday, March 19th. Wolfe Research set a $50.00 price target on shares of BP in a research report on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating on shares of BP in a report on Tuesday, January 14th. Finally, Wells Fargo & Company boosted their target price on shares of BP from $30.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, two have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.48.

BP Stock Up 6.9 %

The firm has a market capitalization of $75.77 billion, a P/E ratio of 348.92, a price-to-earnings-growth ratio of 1.12 and a beta of 0.41. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 0.97. The stock has a fifty day moving average of $32.63 and a 200 day moving average of $31.16.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. On average, research analysts anticipate that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, February 21st were issued a $0.48 dividend. The ex-dividend date was Friday, February 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.88%. BP’s dividend payout ratio (DPR) is presently 2,375.00%.

Hedge Funds Weigh In On BP

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mascagni Wealth Management Inc. purchased a new position in shares of BP during the 4th quarter valued at $33,000. Asset Planning Inc purchased a new stake in BP during the fourth quarter valued at about $40,000. Bank & Trust Co boosted its position in BP by 404.8% during the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock worth $63,000 after purchasing an additional 1,700 shares during the period. Versant Capital Management Inc increased its stake in shares of BP by 41.0% in the fourth quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock worth $66,000 after purchasing an additional 646 shares in the last quarter. Finally, Anchor Investment Management LLC raised its position in shares of BP by 58.7% in the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after purchasing an additional 1,154 shares during the period. 11.01% of the stock is owned by institutional investors.

About BP

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.