Vetr upgraded shares of BP p.l.c. (NYSE:BP) from a hold rating to a buy rating in a research note released on Friday. The brokerage currently has $40.48 price target on the oil and gas exploration company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Societe Generale cut shares of BP p.l.c. from a buy rating to a hold rating and cut their price objective for the stock from $35.04 to $34.90 in a report on Wednesday, July 26th. TheStreet cut shares of BP p.l.c. from a b- rating to a c rating in a report on Thursday, August 10th. Piper Jaffray Companies upgraded shares of BP p.l.c. from a neutral rating to an overweight rating and upped their price objective for the stock from $36.33 to $42.00 in a report on Friday, August 4th. BMO Capital Markets upgraded shares of BP p.l.c. from a market perform rating to an outperform rating in a report on Monday, September 18th. Finally, Kepler Capital Markets upgraded shares of BP p.l.c. from a reduce rating to a hold rating in a report on Tuesday, October 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. BP p.l.c. presently has a consensus rating of Hold and an average price target of $38.66.

Shares of BP p.l.c. (NYSE BP) traded up $0.32 on Friday, reaching $39.09. 3,283,001 shares of the company’s stock were exchanged, compared to its average volume of 5,504,272. The stock has a market capitalization of $128,000.00, a PE ratio of 28.91, a PEG ratio of 1.19 and a beta of 0.98. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. BP p.l.c. has a twelve month low of $33.10 and a twelve month high of $41.55.

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The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Friday, November 10th will be issued a $0.60 dividend. The ex-dividend date is Thursday, November 9th. This represents a $2.40 annualized dividend and a yield of 6.14%. This is a boost from BP p.l.c.’s previous quarterly dividend of $0.60. BP p.l.c.’s dividend payout ratio (DPR) is currently 203.42%.

A number of hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its holdings in BP p.l.c. by 0.9% in the third quarter. Ameriprise Financial Inc. now owns 6,722,574 shares of the oil and gas exploration company’s stock worth $258,345,000 after purchasing an additional 61,668 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in BP p.l.c. by 6.2% in the third quarter. Russell Investments Group Ltd. now owns 4,085,982 shares of the oil and gas exploration company’s stock worth $157,009,000 after purchasing an additional 240,212 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in BP p.l.c. by 13.3% in the second quarter. Parametric Portfolio Associates LLC now owns 2,883,066 shares of the oil and gas exploration company’s stock worth $99,898,000 after purchasing an additional 338,581 shares during the last quarter. OLD Republic International Corp boosted its holdings in BP p.l.c. by 7.2% in the first quarter. OLD Republic International Corp now owns 1,749,500 shares of the oil and gas exploration company’s stock worth $60,393,000 after purchasing an additional 117,000 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in BP p.l.c. by 1.3% in the third quarter. New York State Common Retirement Fund now owns 605,397 shares of the oil and gas exploration company’s stock worth $23,265,000 after purchasing an additional 7,719 shares during the last quarter. Institutional investors own 9.94% of the company’s stock.

About BP p.l.c.

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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