BP (BP) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of BP (NYSE:BP) from a hold rating to a buy rating in a research report report published on Thursday morning.
Other analysts also recently issued research reports about the company. TheStreet upgraded BP from a c rating to a b rating in a research note on Wednesday, November 8th. Scotiabank restated a buy rating and issued a $39.00 target price on shares of BP in a research note on Wednesday, November 1st. Zacks Investment Research upgraded BP from a hold rating to a buy rating and set a $46.00 target price on the stock in a research note on Tuesday, November 7th. Vetr upgraded BP from a hold rating to a buy rating and set a $40.48 target price on the stock in a research note on Friday, November 17th. Finally, Piper Jaffray Companies restated a buy rating and issued a $51.00 target price on shares of BP in a research note on Wednesday, January 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $40.76.
Shares of BP (BP) traded down $0.24 on Thursday, hitting $38.70. The stock had a trading volume of 5,611,292 shares, compared to its average volume of 7,402,613. BP has a 1 year low of $33.10 and a 1 year high of $44.62. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $128,084.23, a P/E ratio of 37.94, a price-to-earnings-growth ratio of 0.76 and a beta of 0.98.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, February 16th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, February 15th. This represents a $2.40 dividend on an annualized basis and a yield of 6.20%. BP’s dividend payout ratio is currently 233.34%.
A number of hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. boosted its position in BP by 15.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 391,562 shares of the oil and gas exploration company’s stock worth $16,457,000 after purchasing an additional 51,977 shares in the last quarter. Wagner Wealth Management LLC purchased a new position in shares of BP in the fourth quarter valued at approximately $156,000. CNB Bank purchased a new position in shares of BP in the fourth quarter valued at approximately $461,000. Dixon Hubard Feinour & Brown Inc. VA lifted its position in shares of BP by 30.0% in the fourth quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 8,709 shares of the oil and gas exploration company’s stock valued at $366,000 after acquiring an additional 2,009 shares in the last quarter. Finally, OLD Republic International Corp lifted its position in shares of BP by 14.0% in the fourth quarter. OLD Republic International Corp now owns 1,975,200 shares of the oil and gas exploration company’s stock valued at $83,018,000 after acquiring an additional 243,000 shares in the last quarter. Institutional investors own 10.05% of the company’s stock.
BP 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.