Morningstar Assigns “A” Credit Rating to BP plc (BP)
BP plc (NYSE:BP) has received an “A” credit rating from Morningstar. The firm’s “A” rating suggests that the company is a low default risk. They also issued a neutral credit outlook for the company and gave their stock a four star rating.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley downgraded shares of BP plc from an “equal weight” rating to an “underweight” rating in a research note on Thursday, August 28th. Separately, analysts at Simmons downgraded shares of BP plc from an “overweight” rating to a “neutral” rating in a research note on Wednesday, August 13th. Finally, 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. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $55.25.
BP plc (NYSE:BP) opened at 47.71 on Thursday. BP plc has a 52-week low of $41.30 and a 52-week high of $53.48. The stock has a 50-day moving average of $48.85 and a 200-day moving average of $49.75. The company has a market cap of $146.6 billion and a P/E ratio of 12.90.
BP plc (NYSE:BP) last announced its earnings results on Tuesday, July 29th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.14 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, analysts predict that BP plc will post $4.70 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 19th. Investors of record on Friday, August 8th will be paid a dividend of $0.585 per share. This represents a $2.34 annualized dividend and a dividend yield of 4.91%. The ex-dividend date is Wednesday, August 6th.
BP p.l.c. (NYSE:BP) is an integrated oil and gas company.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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