BP PLC (BP) Earns “Neutral” Rating from Deutsche Bank AG
A number of other analysts have also weighed in on the company. BNP Paribas reissued an outperform rating on shares of BP PLC in a research note on Tuesday, October 11th. Zacks Investment Research raised BP PLC from a sell rating to a hold rating in a research note on Friday, October 21st. Barclays PLC reissued a buy rating on shares of BP PLC in a research note on Thursday, October 6th. Vetr raised BP PLC from a hold rating to a strong-buy rating and set a $42.32 price objective for the company in a research note on Thursday, October 27th. Finally, Jefferies Group reissued a hold rating on shares of BP PLC in a research note on Thursday, September 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. BP PLC presently has a consensus rating of Buy and a consensus target price of $37.01.
Shares of BP PLC (NYSE:BP) opened at 35.01 on Monday. BP PLC has a 52 week low of $27.01 and a 52 week high of $37.28. The company’s market cap is $110.36 billion. The firm’s 50-day moving average is $34.65 and its 200-day moving average is $34.14.
BP PLC (NYSE:BP) last issued its quarterly earnings results on Tuesday, November 1st. The oil and gas exploration company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.05. BP PLC had a negative net margin of 2.03% and a positive return on equity of 2.48%. The business had revenue of $48.04 billion for the quarter, compared to analysts’ expectations of $50.51 billion. During the same period last year, the business earned $0.60 earnings per share. The business’s quarterly revenue was down 16.2% on a year-over-year basis. Equities research analysts predict that BP PLC will post $1.10 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, November 11th will be issued a dividend of $0.595 per share. The ex-dividend date is Tuesday, November 8th. This represents a $2.38 annualized dividend and a dividend yield of 6.80%. BP PLC’s payout ratio is presently -195.08%.
Several institutional investors have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in shares of BP PLC during the second quarter valued at $257,496,000. Franklin Resources Inc. increased its position 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 valued at $1,273,003,000 after buying an additional 5,815,906 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of BP PLC by 173.3% in the second quarter. BlackRock Advisors LLC now owns 7,208,886 shares of the oil and gas exploration company’s stock valued at $255,988,000 after buying an additional 4,571,568 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of BP PLC during the second quarter valued at $157,139,000. Finally, Acadian Asset Management LLC increased its position in shares of BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock valued at $263,671,000 after buying an additional 3,405,646 shares during the last quarter. Hedge funds and other institutional investors own 11.71% 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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