BP PLC (BP) Stock Rating Reaffirmed by BNP Paribas
BP PLC (NYSE:BP)‘s stock had its “outperform” rating restated by investment analysts at BNP Paribas in a research report issued to clients and investors on Tuesday, StockTargetPrices.com reports.
BP has been the topic of several other reports. Vetr raised shares of BP PLC from a “hold” rating to a “buy” rating and set a $33.74 price objective on the stock in a research report on Monday, June 13th. Citigroup Inc. reissued a “buy” rating on shares of BP PLC in a research report on Wednesday, June 22nd. Jefferies Group raised their price objective on shares of BP PLC from $31.00 to $33.00 and gave the stock a “hold” rating in a research report on Monday, July 11th. Collins Stewart reissued a “buy” rating on shares of BP PLC in a research report on Sunday, September 11th. Finally, Credit Agricole SA reissued a “buy” rating on shares of BP PLC in a research report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. BP PLC currently has a consensus rating of “Buy” and a consensus target price of $38.63.
BP PLC (NYSE:BP) traded down 2.5702% during mid-day trading on Tuesday, hitting $35.7275. 4,447,454 shares of the stock were exchanged. The company has a 50-day moving average price of $34.43 and a 200-day moving average price of $33.29. The company’s market cap is $111.81 billion. BP PLC has a one year low of $27.01 and a one year high of $37.53.
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BP PLC (NYSE:BP) last posted its earnings results on Tuesday, July 26th. The oil and gas exploration company reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.05. The company earned $46.44 billion during the quarter, compared to analysts’ expectations of $50.22 billion. BP PLC had a negative net margin of 2.76% and a positive return on equity of 3.32%. The company’s quarterly revenue was down 25.7% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share. Analysts forecast that BP PLC will post $1.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 5th were given a dividend of $0.595 per share. This represents a $2.38 dividend on an annualized basis and a yield of 6.49%. The ex-dividend date was Wednesday, August 3rd. BP PLC’s payout ratio is currently -139.18%.
Institutional investors have recently made changes to their positions in the company. Bank of Montreal Can acquired a new position in shares of BP PLC during the second quarter worth about $257,496,000. Franklin Resources Inc. boosted its position in shares of BP PLC by 19.4% in the second quarter. Franklin Resources Inc. now owns 35,849,141 shares of the oil and gas exploration company’s stock worth $1,273,003,000 after buying an additional 5,815,906 shares during the last quarter. BlackRock Advisors LLC boosted its position in shares of BP PLC by 173.3% in the second quarter. BlackRock Advisors LLC now owns 7,208,886 shares of the oil and gas exploration company’s stock worth $255,988,000 after buying an additional 4,571,568 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of BP PLC during the second quarter worth about $157,139,000. Finally, Acadian Asset Management LLC boosted its position in shares of BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock worth $263,671,000 after buying an additional 3,405,646 shares during the last quarter. Institutional investors own 12.06% of the company’s stock.
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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