BP PLC Rating Increased to Equal Weight at Morgan Stanley (BP)
BP PLC (NYSE:BP) was upgraded by stock analysts at Morgan Stanley to an “equal weight” rating in a report issued on Friday, American Banking News.com reports.
Shares of BP PLC (NYSE:BP) remained flat at $46.50 during during mid-day trading trading on Friday. 6,219,203 shares of the company’s stock traded hands. BP PLC has a 52-week low of $39.58 and a 52-week high of $46.65. The stock’s 50-day moving average is $42.83 and its 200-day moving average is $42.43. The company has a market cap of $146.2 billion and a price-to-earnings ratio of 6.06. BP PLC also was the recipient of some unusual options trading activity on Tuesday. Stock traders purchased 30,226 call options on the company. This represents an increase of 182% compared to the typical daily volume of 10,722 call options.
BP PLC (NYSE:BP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $1.17 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.00 by $0.17. During the same quarter last year, the company posted $0.27 earnings per share. On average, analysts predict that BP PLC will post $4.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 20th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 4.90%. The ex-dividend date is Wednesday, November 6th.
BP has been the subject of a number of other recent research reports. Analysts at Societe Generale upgraded shares of BP PLC from a “hold” rating to a “buy” rating in a research note to investors on Wednesday. Analysts at TheStreet upgraded shares of BP PLC to a “buy” rating in a research note to investors on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the stock. BP PLC presently has a consensus rating of “Hold” and a consensus target price of $46.00.
BP p.l.c. (NYSE:BP) is an international oil and gas company.
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