Investors bought shares of BP p.l.c. (NYSE:BP) on weakness during trading hours on Wednesday. $3.51 million flowed into the stock on the tick-up and $0.59 million flowed out of the stock on the tick-down, for a money net flow of $2.92 million into the stock. Of all equities tracked, BP p.l.c. had the 24th highest net in-flow for the day. BP p.l.c. traded down ($0.07) for the day and closed at $34.88

A number of research analysts have weighed in on BP shares. Jefferies Group LLC set a $36.00 price target on shares of BP p.l.c. and gave the company a “hold” rating in a research report on Wednesday, May 17th. Argus lifted their price target on shares of BP p.l.c. from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, June 1st. TheStreet raised shares of BP p.l.c. from a “c” rating to a “b-” rating in a research report on Tuesday, May 30th. Zacks Investment Research raised shares of BP p.l.c. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, Morgan Stanley reaffirmed a “buy” rating on shares of BP p.l.c. in a research report on Monday, June 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the stock. BP p.l.c. has an average rating of “Hold” and a consensus target price of $36.26.

The company has a market capitalization of $116.48 billion, a price-to-earnings ratio of 30.98 and a beta of 0.93. The stock has a 50 day moving average price of $35.02 and a 200 day moving average price of $34.91.

BP p.l.c. (NYSE:BP) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.18. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. The business had revenue of $56.51 billion for the quarter, compared to analyst estimates of $56.09 billion. During the same quarter last year, the firm earned $0.23 earnings per share. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. Equities research analysts expect that BP p.l.c. will post $1.65 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be issued a dividend of $0.595 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.70%. BP p.l.c.’s dividend payout ratio (DPR) is presently 206.96%.

Several hedge funds have recently modified their holdings of the company. Beaton Management Co. Inc. acquired a new position in shares of BP p.l.c. during the second quarter worth approximately $211,000. Financial Partners Capital Management LLC lifted its holdings in shares of BP p.l.c. by 5.6% during the second quarter. Financial Partners Capital Management LLC now owns 170,146 shares of the oil and gas exploration company’s stock worth $5,896,000 after buying an additional 9,052 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in shares of BP p.l.c. by 7.4% during the second quarter. Stonebridge Capital Advisors LLC now owns 67,794 shares of the oil and gas exploration company’s stock worth $2,349,000 after buying an additional 4,677 shares during the last quarter. Highlander Capital Management LLC lifted its holdings in shares of BP p.l.c. by 25.6% during the second quarter. Highlander Capital Management LLC now owns 7,350 shares of the oil and gas exploration company’s stock worth $257,000 after buying an additional 1,500 shares during the last quarter. Finally, Simmons Bank lifted its holdings in shares of BP p.l.c. by 32.7% during the second quarter. Simmons Bank now owns 21,835 shares of the oil and gas exploration company’s stock worth $757,000 after buying an additional 5,380 shares during the last quarter. Institutional investors own 10.10% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Traders Buy Shares of BP p.l.c. (BP) on Weakness” was originally reported by Daily Political and is the sole property of of Daily Political. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://www.dailypolitical.com/2017/09/08/traders-buy-shares-of-bp-p-l-c-bp-on-weakness-2.html.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.