BP p.l.c. (NYSE:BP) was downgraded by equities research analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday, MarketBeat.com reports.

A number of other equities research analysts have also commented on BP. Citigroup Inc reaffirmed a “buy” rating on shares of BP p.l.c. in a research note on Wednesday, February 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “hold” rating and issued a $34.70 price objective on shares of BP p.l.c. in a research note on Wednesday, February 22nd. Scotiabank set a $40.00 price objective on shares of BP p.l.c. and gave the company a “buy” rating in a research note on Thursday, March 2nd. Deutsche Bank AG raised shares of BP p.l.c. from a “hold” rating to a “buy” rating in a research note on Tuesday, April 4th. Finally, Zacks Investment Research lowered shares of BP p.l.c. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $36.21.

Analyst Recommendations for BP p.l.c. (NYSE:BP)

Shares of BP p.l.c. (NYSE:BP) traded up 0.69% during trading on Wednesday, hitting $34.84. 3,501,179 shares of the stock were exchanged. The stock has a market cap of $114.19 billion, a P/E ratio of 51.85 and a beta of 0.99. BP p.l.c. has a 52 week low of $31.57 and a 52 week high of $38.68. The firm’s 50 day moving average price is $35.82 and its 200-day moving average price is $35.45.

BP p.l.c. (NYSE:BP) last posted its quarterly earnings data on Tuesday, May 2nd. The oil and gas exploration company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.08. BP p.l.c. had a net margin of 1.06% and a return on equity of 3.72%. The company had revenue of $55.86 billion for the quarter, compared to analyst estimates of $59.87 billion. During the same period in the prior year, the firm posted $0.17 EPS. The company’s quarterly revenue was up 45.1% on a year-over-year basis. On average, analysts predict that BP p.l.c. will post $1.92 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, May 12th were issued a dividend of $0.595 per share. The ex-dividend date was Wednesday, May 10th. This represents a $2.38 annualized dividend and a yield of 6.83%. BP p.l.c.’s payout ratio is 366.16%.

COPYRIGHT VIOLATION NOTICE: “BP p.l.c. (BP) Lowered to “Underperform” at Macquarie” was first published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2017/06/25/bp-p-l-c-bp-lowered-to-underperform-at-macquarie.html.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BP. HighPoint Advisor Group LLC increased its stake in shares of BP p.l.c. 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 stake in shares of BP p.l.c. 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 stake in shares of BP p.l.c. 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. Beacon Financial Group increased its stake in shares of BP p.l.c. 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. Finally, Beech Hill Advisors Inc. increased its stake in shares of BP p.l.c. by 86.6% in the first quarter. Beech Hill Advisors Inc. now owns 18,750 shares of the oil and gas exploration company’s stock valued at $647,000 after buying an additional 8,700 shares in the last quarter. Hedge funds and other institutional investors own 10.05% of the company’s stock.

BP p.l.c. Company Profile

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.

Receive News & Ratings for BP p.l.c. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP p.l.c. and related companies with MarketBeat.com's FREE daily email newsletter.