BP plc (BP) Receives Consensus Recommendation of “Buy” from Analysts
BP plc (NYSE:BP) has earned a consensus recommendation of “Buy” from the nineteen ratings firms that are covering the firm. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $35.68.
A number of analysts have issued reports on BP shares. Citigroup Inc reissued a “buy” rating on shares of BP plc in a research report on Wednesday, February 22nd. Societe Generale raised BP plc from a “hold” rating to a “buy” rating and boosted their target price for the company from $27.01 to $35.89 in a research report on Monday, January 30th. Morgan Stanley reissued a “buy” rating on shares of BP plc in a research report on Thursday, April 13th. Deutsche Bank AG raised BP plc from a “hold” rating to a “buy” rating in a research report on Tuesday, April 4th. Finally, Scotiabank reissued a “buy” rating and issued a $38.00 target price on shares of BP plc in a research report on Monday, March 27th.
A number of institutional investors have recently added to or reduced their stakes in the stock. BB&T Corp increased its position in BP plc by 5.7% in the third quarter. BB&T Corp now owns 211,219 shares of the oil and gas exploration company’s stock valued at $7,426,000 after buying an additional 11,366 shares in the last quarter. HighPoint Advisor Group LLC increased its position in BP plc by 9.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 61,404 shares of the oil and gas exploration company’s stock valued at $2,102,000 after buying an additional 5,086 shares in the last quarter. Orbis Allan Gray Ltd increased its position in BP plc by 68.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 827,125 shares of the oil and gas exploration company’s stock valued at $30,918,000 after buying an additional 337,242 shares in the last quarter. Heritage Investors Management Corp increased its position in BP plc by 0.9% in the first quarter. Heritage Investors Management Corp now owns 22,965 shares of the oil and gas exploration company’s stock valued at $793,000 after buying an additional 200 shares in the last quarter. Finally, Beacon Financial Group increased its position in BP plc by 2.5% in the first quarter. Beacon Financial Group now owns 8,154 shares of the oil and gas exploration company’s stock valued at $281,000 after buying an additional 198 shares in the last quarter. Institutional investors own 11.07% of the company’s stock.
BP plc (NYSE:BP) traded up 0.663% during mid-day trading on Monday, hitting $37.185. 1,286,211 shares of the stock traded hands. BP plc has a 12-month low of $30.66 and a 12-month high of $38.68. The stock has a 50 day moving average price of $34.99 and a 200 day moving average price of $35.12. The firm has a market cap of $121.87 billion, a PE ratio of 55.335 and a beta of 1.12.
BP plc (NYSE:BP) last released its quarterly earnings results on Tuesday, May 2nd. The oil and gas exploration company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.08. The firm had revenue of $55.86 billion for the quarter, compared to analyst estimates of $59.87 billion. BP plc had a net margin of 0.06% and a return on equity of 2.71%. The business’s revenue for the quarter was up 45.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. On average, analysts expect that BP plc will post $1.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, May 12th will be paid a $0.595 dividend. The ex-dividend date is Wednesday, May 10th. This represents a $2.38 annualized dividend and a yield of 6.44%. BP plc’s dividend payout ratio is presently 11,905.95%.
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About BP plc
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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