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BP plc (NYSE:BP) was downgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research report issued on Thursday.

Shares of BP plc (NYSE:BP) traded down 0.77% on Thursday, hitting $47.99. The stock had a trading volume of 727,418 shares. BP plc has a one year low of $41.08 and a one year high of $53.48. The stock’s 50-day moving average is $49.48 and its 200-day moving average is $49.76. The company has a market cap of $147.5 billion and a price-to-earnings ratio of 13.21.

BP plc (NYSE:BP) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.12 by $0.06. The company had revenue of $96.96 billion for the quarter, compared to the consensus estimate of $94.71 billion. During the same quarter last year, the company posted $0.14 earnings per share. BP plc’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that BP plc will post $4.68 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, September 19th. Stockholders of record on Friday, August 8th will be given a dividend of $0.585 per share. This represents a $2.34 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date of this dividend is Wednesday, August 6th.

A number of other firms have also recently commented on BP. Analysts at Simmons downgraded shares of BP plc from an “overweight” rating to a “neutral” rating in a research note on Wednesday, August 13th. Separately, analysts at Howard Weil upgraded shares of BP plc from a “sector outperform” rating to a “focus stock” rating in a research note on Thursday, July 10th. They now have a $57.00 price target on the stock. Finally, analysts at Deutsche Bank downgraded shares of BP plc from a “buy” rating to a “hold” rating in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $55.25.

BP p.l.c. (NYSE:BP) is an integrated oil and gas company.

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