BP PLC (BP) Cut to “Buy” at Vetr Inc.
BP PLC (NYSE:BP) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday. They presently have a $39.01 price target on the oil and gas exploration company’s stock. Vetr‘s target price would suggest a potential upside of 11.43% from the company’s previous close.
BP has been the subject of several other research reports. Deutsche Bank AG restated a “neutral” rating on shares of BP PLC in a research note on Monday. Zacks Investment Research upgraded shares of BP PLC from a “sell” rating to a “hold” rating in a research note on Friday, October 21st. Collins Stewart restated a “buy” rating on shares of BP PLC in a research note on Sunday, September 11th. Credit Suisse Group AG upgraded shares of BP PLC from a “neutral” rating to an “outperform” rating in a research note on Wednesday. Finally, reiterated a “buy” rating on shares of BP PLC in a research note on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $37.01.
Shares of BP PLC (NYSE:BP) traded up 4.45% during midday trading on Wednesday, reaching $35.01. The company’s stock had a trading volume of 11,784,765 shares. The stock’s market capitalization is $110.36 billion. The company has a 50 day moving average of $34.65 and a 200-day moving average of $34.14. BP PLC has a 52 week low of $27.01 and a 52 week high of $37.28.
BP PLC (NYSE:BP) last posted its quarterly earnings results on Tuesday, November 1st. The oil and gas exploration company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.05. The business earned $48.04 billion during the quarter, compared to the consensus estimate of $50.51 billion. BP PLC had a negative net margin of 2.03% and a positive return on equity of 2.48%. The company’s quarterly revenue was down 16.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Equities research analysts predict that BP PLC will post $1.10 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, November 11th will be issued a $0.595 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.80%. BP PLC’s payout ratio is -195.08%.
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Several large investors have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of BP PLC by 7.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 39,936,560 shares of the oil and gas exploration company’s stock worth $1,418,148,000 after buying an additional 2,624,676 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of BP PLC by 19.4% in the second quarter. Franklin Resources Inc. now owns 35,849,141 shares of the oil and gas exploration company’s stock worth $1,273,003,000 after buying an additional 5,815,906 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of BP PLC by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 23,510,913 shares of the oil and gas exploration company’s stock worth $834,873,000 after buying an additional 164,624 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of BP PLC by 11.0% in the third quarter. Acadian Asset Management LLC now owns 8,240,921 shares of the oil and gas exploration company’s stock worth $289,748,000 after buying an additional 815,527 shares during the last quarter. Finally, BlackRock Advisors LLC boosted its stake in shares of BP PLC by 2.5% in the third quarter. BlackRock Advisors LLC now owns 7,388,707 shares of the oil and gas exploration company’s stock worth $259,786,000 after buying an additional 179,821 shares during the last quarter. 11.71% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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