BP p.l.c. (NYSE:BP) Given Hold Rating at Jefferies Group LLC
BP p.l.c. (NYSE:BP)‘s stock had its “hold” rating restated by stock analysts at Jefferies Group LLC in a research report issued on Friday. They presently have a $35.90 price target on the oil and gas exploration company’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 2.72% from the stock’s previous close.
A number of other equities analysts have also commented on the company. Scotiabank reaffirmed a “buy” rating and issued a $37.00 price target on shares of BP p.l.c. in a report on Friday, June 30th. Kepler Capital Markets lowered BP p.l.c. from a “hold” rating to a “reduce” rating in a research note on Friday, June 30th. Bank of America Corporation lowered BP p.l.c. from a “neutral” rating to an “underperform” rating in a research note on Friday, June 30th. Macquarie lowered BP p.l.c. from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 21st. Finally, J P Morgan Chase & Co reissued an “overweight” rating on shares of BP p.l.c. in a research note on Monday, June 12th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $36.10.
BP p.l.c. (NYSE BP) traded up 0.66% during trading on Friday, hitting $34.95. The stock had a trading volume of 3,131,327 shares. The stock has a market capitalization of $114.55 billion, a P/E ratio of 52.01 and a beta of 0.94. The company has a 50-day moving average of $35.80 and a 200-day moving average of $35.41. BP p.l.c. has a 52 week low of $32.50 and a 52 week high of $38.68.
BP p.l.c. (NYSE:BP) last posted its quarterly earnings results on Tuesday, May 2nd. The oil and gas exploration company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.08. BP p.l.c. had a return on equity of 3.72% and a net margin of 1.06%. The firm had revenue of $55.86 billion during the quarter, compared to analyst estimates of $59.87 billion. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 45.1% on a year-over-year basis. On average, equities analysts expect that BP p.l.c. will post $1.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, May 12th were issued a $0.595 dividend. The ex-dividend date was Wednesday, May 10th. This represents a $2.38 annualized dividend and a dividend yield of 6.81%. BP p.l.c.’s dividend payout ratio is currently 366.16%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in BP p.l.c. during the fourth quarter valued at approximately $15,632,000. Brookfield Asset Management Inc. increased its position in shares of BP p.l.c. by 0.6% in the fourth quarter. Brookfield Asset Management Inc. now owns 391,406 shares of the oil and gas exploration company’s stock worth $14,631,000 after buying an additional 2,520 shares in the last quarter. Orbis Allan Gray Ltd increased its position 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 worth $30,918,000 after buying an additional 337,242 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of BP p.l.c. during the fourth quarter worth about $151,000. Finally, HighPoint Advisor Group LLC increased its position 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 worth $2,102,000 after buying an additional 5,086 shares in the last quarter. Hedge funds and other institutional investors own 10.02% of the company’s stock.
About BP p.l.c.
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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