BP p.l.c. (NYSE:BP) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.

A number of other research analysts also recently issued reports on the company. Macquarie downgraded BP p.l.c. from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. Morgan Stanley restated a “buy” rating on shares of BP p.l.c. in a research note on Monday, June 12th. Simmons raised their price target on BP p.l.c. from $34.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 19th. Scotiabank restated a “buy” rating and set a $37.00 price target on shares of BP p.l.c. in a research note on Friday, June 30th. Finally, Kepler Capital Markets downgraded BP p.l.c. from a “hold” rating to a “reduce” rating in a research note on Friday, June 30th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.51.

BP p.l.c. (NYSE BP) opened at 34.29 on Thursday. The firm has a 50-day moving average price of $35.11 and a 200 day moving average price of $34.95. BP p.l.c. has a 1-year low of $32.53 and a 1-year high of $38.68. The stock has a market cap of $112.81 billion, a price-to-earnings ratio of 29.92 and a beta of 0.94.

BP p.l.c. (NYSE:BP) last released its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.18. The firm had revenue of $56.51 billion for the quarter, compared to analysts’ expectations of $56.09 billion. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. On average, equities research analysts anticipate that BP p.l.c. will post $1.69 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in BP p.l.c. by 2.0% in the first quarter. State Street Corp now owns 31,138,116 shares of the oil and gas exploration company’s stock valued at $1,074,889,000 after buying an additional 614,408 shares in the last quarter. BlackRock Inc. boosted its position in shares of BP p.l.c. by 16,222.8% in the first quarter. BlackRock Inc. now owns 11,803,811 shares of the oil and gas exploration company’s stock valued at $407,466,000 after buying an additional 11,731,496 shares in the last quarter. Morgan Stanley boosted its position in shares of BP p.l.c. by 11.2% in the first quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock valued at $213,544,000 after buying an additional 623,612 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of BP p.l.c. by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 4,169,463 shares of the oil and gas exploration company’s stock valued at $143,927,000 after buying an additional 309,046 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its position in shares of BP p.l.c. by 8.1% in the first quarter. Sound Shore Management Inc. CT now owns 4,069,591 shares of the oil and gas exploration company’s stock valued at $140,482,000 after buying an additional 303,382 shares in the last quarter. 9.96% of the stock is owned by institutional investors and hedge funds.

BP p.l.c. Company Profile

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

Analyst Recommendations for BP p.l.c. (NYSE:BP)

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