BP (NYSE:BP) Rating Increased to Hold at Argus

Argus upgraded shares of BP (NYSE:BP) to a hold rating in a research report released on Tuesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on BP. Citigroup reiterated a “buy” rating on shares of BP in a report on Monday, November 3rd. Evercore set a $38.00 price target on shares of BP and gave the company an “in-line” rating in a research report on Tuesday, January 6th. Barclays restated an “overweight” rating on shares of BP in a research report on Friday, December 12th. TD Cowen decreased their target price on shares of BP from $37.00 to $35.00 and set a “hold” rating on the stock in a report on Friday, February 13th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of BP in a research report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, BP has a consensus rating of “Hold” and a consensus price target of $37.35.

BP Stock Performance

Shares of BP stock opened at $38.57 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. BP has a 52 week low of $25.22 and a 52 week high of $39.51. The firm has a market capitalization of $101.12 billion, a P/E ratio of -3,852.85, a PEG ratio of 1.78 and a beta of 0.33. The company has a 50 day moving average price of $35.97 and a 200 day moving average price of $35.26.

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. The firm had revenue of $47.38 billion for the quarter, compared to analyst estimates of $42.19 billion. BP had a return on equity of 9.68% and a net margin of 0.03%.BP’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Sell-side analysts expect that BP will post 3.53 EPS for the current year.

BP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.4992 per share. This represents a $2.00 annualized dividend and a yield of 5.2%. The ex-dividend date is Friday, February 20th. BP’s payout ratio is -19,800.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Strategic Advocates LLC acquired a new stake in shares of BP in the third quarter valued at approximately $25,000. Heartwood Wealth Advisors LLC purchased a new position in shares of BP during the 3rd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of BP in the second quarter valued at about $27,000. YANKCOM Partnership grew its position in BP by 1,068.3% during the fourth quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 876 shares during the period. Finally, Triumph Capital Management acquired a new stake in shares of BP during the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 11.01% of the company’s stock.

About BP

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.