BP (NYSE: BP) recently received a number of ratings updates from brokerages and research firms:

  • 11/23/2017 – BP was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $40.94 price target on the stock.
  • 11/22/2017 – BP was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $45.00 price target on the stock. According to Zacks, “BP has rallied 4.7% year to date, outperforming the 1.2% gain of the Zacks Oil International Integrated industry. We appreciate the British energy giant’s renewed share repurchase program. Moreover, a rising cash balance over the last three quarters reflects the strength in BP’s financials. The integrated player expects its major upstream projects like Clair Ridge and Juniper developments to fetch significant cash flow starting 2020 and beyond. For financing the upstream developments, the company’s decision to divest Bruce assets is commendable. Moreover, the integrated firm has commenced natural gas production at the Khazzan field, expected to have an inventory of 300 drilling wells. Importantly, BP expects to boost its daily natural gas production from the Khazzan prospect to 1.5 billion cubic feet once the second phase of the development comes online.”
  • 11/17/2017 – BP was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $40.48 price target on the stock.
  • 11/15/2017 – BP was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “BP is one of the largest integrated energy firms in the world with a strong and diversified portfolio of development projects. The company has gained 15.5% over the last three months, outperforming the industry’s 12% gain.  For the fourth quarter of 2017, BP projects sequentially higher production owing to ongoing project ramp ups.   Also, the company has restarted share repurchase plan beginning fourth quarter 2017. However, the oil spill incident of 2010 in the BP-operated Macondo Prospect continues to affect the company. Although BP has cleared the substantial litigation expenses related to the spill, it had to divest some of its best operating properties.”
  • 11/8/2017 – BP was upgraded by analysts at TheStreet from a “c” rating to a “b” rating.
  • 11/7/2017 – BP was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $46.00 price target on the stock. According to Zacks, “BP is one of the largest integrated energy firms in the world with a strong and diversified portfolio of development projects.  BP recently commenced natural gas production at the Khazzan field in Oman. The project, expected to have an inventory of 300 drilling wells, is the largest start-up by BP in 2017. Also, it is the sixth project start-up among the seven new key developments of the company this year. All the projects are likely to take the energy giant closer to its target of adding 800,000 barrels of oil equivalent every day by 2020. Over the last one year, the company has outperformed the industry.  For the fourth quarter of 2017, BP projects sequentially higher production owing to ongoing project ramp ups.   Also, the company has restarted share repurchase plan beginning fourth quarter 2017. BP’s dividend yield is also much higher than that of the industry. This shows that the energy companies are again getting stabilized.”
  • 11/1/2017 – BP had its “buy” rating reaffirmed by analysts at Scotiabank. They now have a $39.00 price target on the stock.
  • 11/1/2017 – BP had its price target raised by analysts at Evercore ISI from $43.00 to $48.00. They now have an “outperform” rating on the stock.
  • 10/30/2017 – BP was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $40.67 price target on the stock.
  • 10/24/2017 – BP had its “hold” rating reaffirmed by analysts at Cowen Inc. They now have a $39.00 price target on the stock.
  • 10/10/2017 – BP was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $43.32 price target on the stock.
  • 10/4/2017 – BP was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $43.32 price target on the stock.
  • 10/3/2017 – BP was upgraded by analysts at Kepler Capital Markets from a “reduce” rating to a “hold” rating.

Shares of BP p.l.c. (NYSE:BP) opened at $39.71 on Thursday. The company has a market cap of $131,722.23, a P/E ratio of 29.12, a PEG ratio of 1.13 and a beta of 0.99. 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 12-month low of $33.10 and a 12-month high of $41.55.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, November 10th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Thursday, November 9th. This is a positive change from BP’s previous quarterly dividend of $0.60. BP’s payout ratio is presently 203.42%.

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.

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