BP PLC (BP) Rating Reiterated by Barclays PLC
A number of other research analysts have also recently commented on the stock. Vetr upgraded shares of BP PLC from a buy rating to a strong-buy rating and set a $37.00 price target for the company in a research note on Monday, June 27th. Credit Suisse Group AG upgraded shares of BP PLC from an underperform rating to a neutral rating in a research note on Tuesday, July 5th. JPMorgan Chase & Co. restated a buy rating on shares of BP PLC in a research note on Thursday, July 21st. Collins Stewart restated a buy rating on shares of BP PLC in a research note on Thursday, June 30th. Finally, Credit Agricole SA restated a buy rating on shares of BP PLC in a research note on Tuesday, August 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $38.63.
BP PLC (NYSE:BP) opened at 35.78 on Thursday. The company’s market capitalization is $111.97 billion. BP PLC has a one year low of $27.01 and a one year high of $37.53. The company has a 50-day moving average price of $34.48 and a 200-day moving average price of $33.31.
BP PLC (NYSE:BP) last released its earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.05. BP PLC had a positive return on equity of 3.32% and a negative net margin of 2.76%. The firm had revenue of $46.44 billion for the quarter, compared to analyst estimates of $50.22 billion. During the same period last year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was down 25.7% compared to the same quarter last year. Equities research analysts anticipate that BP PLC will post $1.09 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 5th were issued a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend was Wednesday, August 3rd. BP PLC’s dividend payout ratio is presently -139.18%.
A number of hedge funds have recently added to or reduced their stakes in BP. Raymond James Trust N.A. raised its stake in BP PLC by 11.7% in the third quarter. Raymond James Trust N.A. now owns 61,792 shares of the oil and gas exploration company’s stock worth $2,173,000 after buying an additional 6,472 shares in the last quarter. First Financial Bank N.A. Trust Division raised its stake in BP PLC by 0.9% in the third quarter. First Financial Bank N.A. Trust Division now owns 53,216 shares of the oil and gas exploration company’s stock worth $1,871,000 after buying an additional 461 shares in the last quarter. Gradient Investments LLC raised its stake in BP PLC by 34.1% in the third quarter. Gradient Investments LLC now owns 20,421 shares of the oil and gas exploration company’s stock worth $718,000 after buying an additional 5,190 shares in the last quarter. Advisory Services Network LLC raised its stake in BP PLC by 121.7% in the third quarter. Advisory Services Network LLC now owns 3,860 shares of the oil and gas exploration company’s stock worth $136,000 after buying an additional 2,119 shares in the last quarter. Finally, Founders Financial Securities LLC acquired a new stake in BP PLC during the third quarter worth approximately $520,000. 12.06% of the stock is owned by hedge funds and other institutional investors.
BP PLC Company Profile
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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