BP PLC (BP) Rating Increased to Strong-Buy at Vetr Inc.
BP PLC (NYSE:BP) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $37.28 target price on the oil and gas exploration company’s stock. Vetr‘s price target points to a potential upside of 12.73% from the stock’s previous close.
A number of other equities analysts have also weighed in on the company. Collins Stewart reiterated a “buy” rating on shares of BP PLC in a research note on Sunday, September 11th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of BP PLC in a research note on Thursday, July 21st. Jefferies Group reiterated a “hold” rating on shares of BP PLC in a research note on Thursday, September 8th. Citigroup Inc. reiterated a “buy” rating on shares of BP PLC in a research note on Wednesday, July 27th. Finally, Morgan Stanley upgraded BP PLC from an “equal weight” rating to an “overweight” rating in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $38.63.
BP PLC (NYSE:BP) opened at 33.07 on Wednesday. The company’s market cap is $103.49 billion. BP PLC has a 12 month low of $27.01 and a 12 month high of $37.53. The firm has a 50-day moving average price of $33.88 and a 200 day moving average price of $32.84.
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BP PLC (NYSE:BP) last released its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.05. The business earned $46.44 billion during the quarter, compared to the consensus estimate of $50.22 billion. BP PLC had a negative net margin of 2.76% and a positive return on equity of 3.32%. BP PLC’s quarterly revenue was down 25.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. On average, equities analysts expect that BP PLC will post $1.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, August 5th were issued a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a dividend yield of 7.20%. The ex-dividend date was Wednesday, August 3rd. BP PLC’s dividend payout ratio (DPR) is -139.18%.
Several large investors have recently added to or reduced their stakes in BP. Rockefeller Financial Services Inc. increased its stake in BP PLC by 3.3% in the second quarter. Rockefeller Financial Services Inc. now owns 320,984 shares of the oil and gas exploration company’s stock valued at $11,398,000 after buying an additional 10,194 shares during the period. Wellington Management Group LLP raised its position in shares of BP PLC by 0.3% in the first quarter. Wellington Management Group LLP now owns 7,819,554 shares of the oil and gas exploration company’s stock valued at $235,994,000 after buying an additional 22,315 shares in the last quarter. Greylin Investment Mangement Inc. raised its position in shares of BP PLC by 3.9% in the second quarter. Greylin Investment Mangement Inc. now owns 437,065 shares of the oil and gas exploration company’s stock valued at $15,520,000 after buying an additional 16,408 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of BP PLC by 226.5% in the first quarter. Renaissance Technologies LLC now owns 979,700 shares of the oil and gas exploration company’s stock valued at $29,567,000 after buying an additional 679,600 shares in the last quarter. Finally, Goelzer Investment Management Inc. raised its position in shares of BP PLC by 6.5% in the second quarter. Goelzer Investment Management Inc. now owns 17,098 shares of the oil and gas exploration company’s stock valued at $607,000 after buying an additional 1,039 shares in the last quarter. 12.65% of the stock is currently owned by institutional investors.
BP PLC Company Profile
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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