BP PLC (BP) Rating Reiterated by BNP Paribas
BP PLC (NYSE:BP)‘s stock had its “outperform” rating reiterated by equities researchers at BNP Paribas in a report released on Tuesday, StockTargetPrices.com reports.
Other equities research analysts have also recently issued reports about the company. Vetr raised BP PLC from a “buy” rating to a “strong-buy” rating and set a $37.00 price objective for the company in a research report on Monday, June 20th. Citigroup Inc. reissued a “buy” rating on shares of BP PLC in a research report on Wednesday, June 22nd. Credit Agricole SA reissued a “buy” rating on shares of BP PLC in a research report on Tuesday, August 16th. Morgan Stanley reissued a “neutral” rating on shares of BP PLC in a research report on Monday, June 13th. Finally, Collins Stewart reissued a “buy” rating on shares of BP PLC in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the company’s stock. BP PLC presently has an average rating of “Buy” and a consensus target price of $38.63.
BP PLC (NYSE:BP) opened at 35.79 on Tuesday. BP PLC has a 52-week low of $27.01 and a 52-week high of $37.53. The stock’s 50 day moving average is $34.53 and its 200 day moving average is $33.33. The company’s market cap is $112.01 billion.
BP PLC (NYSE:BP) last posted its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.05. BP PLC had a negative net margin of 2.76% and a positive return on equity of 3.32%. The business earned $46.44 billion during the quarter, compared to the consensus estimate of $50.22 billion. During the same period in the prior year, the company posted $0.07 earnings per share. The firm’s revenue was down 25.7% compared to the same quarter last year. On average, analysts predict that BP PLC will post $1.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 5th were issued a $0.595 dividend. This represents a $2.38 annualized dividend and a yield of 6.65%. The ex-dividend date was Wednesday, August 3rd. BP PLC’s dividend payout ratio is -139.18%.
A number of institutional investors have recently bought and sold shares of BP. Bessemer Group Inc. boosted its position in BP PLC by 363.2% in the first quarter. Bessemer Group Inc. now owns 141,846 shares of the oil and gas exploration company’s stock valued at $4,281,000 after buying an additional 111,222 shares in the last quarter. M&T Bank Corp boosted its position in BP PLC by 0.9% in the first quarter. M&T Bank Corp now owns 498,702 shares of the oil and gas exploration company’s stock valued at $15,049,000 after buying an additional 4,220 shares in the last quarter. Associated Banc Corp boosted its position in BP PLC by 10.7% in the first quarter. Associated Banc Corp now owns 50,728 shares of the oil and gas exploration company’s stock valued at $1,531,000 after buying an additional 4,914 shares in the last quarter. Smith Moore & CO. purchased a new position in BP PLC during the first quarter valued at about $212,000. Finally, Willis Investment Counsel boosted its position in BP PLC by 12.5% in the first quarter. Willis Investment Counsel now owns 362,755 shares of the oil and gas exploration company’s stock valued at $10,948,000 after buying an additional 40,315 shares in the last quarter. Institutional investors and hedge funds own 12.06% of the company’s stock.
About BP PLC
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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