BP (NYSE:BP) Price Target Cut to $35.00 by Analysts at TD Cowen

BP (NYSE:BP) had its price objective dropped by stock analysts at TD Cowen from $37.00 to $35.00 in a note issued to investors on Friday, Marketbeat reports. The firm presently has a “hold” rating on the oil and gas exploration company’s stock. TD Cowen’s price objective would suggest a potential downside of 5.90% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Melius Research cut shares of BP from a “buy” rating to a “sell” rating and set a $31.00 target price for the company. in a report on Wednesday. Weiss Ratings upgraded BP from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 30th. HSBC downgraded BP from a “hold” rating to a “reduce” rating and set a $38.50 target price on the stock. in a research note on Thursday. Raymond James Financial reduced their price target on BP from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Finally, Citigroup restated a “buy” rating on shares of BP in a research report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.35.

BP Price Performance

Shares of BP opened at $37.20 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.26 and a quick ratio of 0.89. The company’s fifty day moving average price is $35.80 and its 200-day moving average price is $35.09. BP has a 1-year low of $25.22 and a 1-year high of $39.51. The firm has a market capitalization of $96.96 billion, a PE ratio of -3,715.78, a price-to-earnings-growth ratio of 2.16 and a beta of 0.33.

BP (NYSE:BP) last issued its earnings results on Tuesday, February 10th. The oil and gas exploration company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. BP had a return on equity of 9.68% and a net margin of 0.03%.The firm had revenue of $47.38 billion for the quarter, compared to analyst estimates of $42.19 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. BP’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities research analysts predict that BP will post 3.53 EPS for the current year.

Institutional Investors Weigh In On BP

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC raised its position in BP by 16.2% during the fourth quarter. ORG Partners LLC now owns 2,038 shares of the oil and gas exploration company’s stock worth $71,000 after acquiring an additional 284 shares during the period. First Horizon Corp boosted its holdings in BP by 8.1% in the 4th quarter. First Horizon Corp now owns 3,933 shares of the oil and gas exploration company’s stock worth $137,000 after buying an additional 296 shares during the last quarter. GAMMA Investing LLC increased its stake in BP by 5.2% during the 4th quarter. GAMMA Investing LLC now owns 6,597 shares of the oil and gas exploration company’s stock worth $229,000 after buying an additional 324 shares in the last quarter. Atlas Brown Inc. lifted its position in shares of BP by 0.9% in the fourth quarter. Atlas Brown Inc. now owns 36,721 shares of the oil and gas exploration company’s stock valued at $1,275,000 after acquiring an additional 330 shares in the last quarter. Finally, United Community Bank lifted its holdings in BP by 1.3% in the 4th quarter. United Community Bank now owns 29,456 shares of the oil and gas exploration company’s stock valued at $1,023,000 after purchasing an additional 370 shares in the last quarter. Hedge funds and other institutional investors own 11.01% of the company’s stock.

BP Company Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.