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BP plc (NYSE:BP) was upgraded by equities researchers at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research report issued on Friday, reports.

BP plc (NYSE:BP) opened at 44.89 on Friday. BP plc has a 1-year low of $41.30 and a 1-year high of $53.48. The stock has a 50-day moving average of $48.6 and a 200-day moving average of $49.71. The company has a market cap of $137.9 billion and a P/E ratio of 13.04. BP plc also saw unusually large options trading activity on Thursday. Investors bought 11,754 call options on the stock. This represents an increase of 228% compared to the average daily volume of 3,584 call options.

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. Analysts expect that BP plc will post $4.70 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, September 19th. Stockholders 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 5.21%. The ex-dividend date is Wednesday, August 6th.

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 equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $55.25.

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

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