BP p.l.c. (BP) Rating Increased to Overweight at Piper Jaffray Companies
BP p.l.c. (NYSE:BP) was upgraded by Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage currently has a $42.00 price target on the oil and gas exploration company’s stock, up from their previous price target of $36.33. Piper Jaffray Companies’ price target would suggest a potential upside of 15.61% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. TheStreet upgraded BP p.l.c. from a “c” rating to a “b-” rating in a research note on Tuesday, May 30th. Argus raised their price objective on BP p.l.c. from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, June 1st. Morgan Stanley restated a “buy” rating on shares of BP p.l.c. in a research note on Thursday, April 13th. Scotiabank restated a “buy” rating and set a $37.00 price objective on shares of BP p.l.c. in a research note on Friday, June 30th. Finally, Zacks Investment Research upgraded BP p.l.c. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $36.51.
Shares of BP p.l.c. (BP) opened at 36.33 on Friday. The stock has a market cap of $119.52 billion, a PE ratio of 31.70 and a beta of 0.94. BP p.l.c. has a 1-year low of $32.50 and a 1-year high of $38.68. The company’s 50-day moving average price is $34.98 and its 200 day moving average price is $35.02.
BP p.l.c. (NYSE:BP) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by $0.18. BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. The business had revenue of $56.51 billion for the quarter, compared to analyst estimates of $56.09 billion. During the same quarter last year, the business earned $0.23 EPS. BP p.l.c.’s revenue for the quarter was up 21.7% compared to the same quarter last year. Equities analysts forecast that BP p.l.c. will post $1.67 EPS for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the company. Massey Quick & Co. LLC increased its stake in shares of BP p.l.c. by 27,575.0% in the first quarter. Massey Quick & Co. LLC now owns 1,107 shares of the oil and gas exploration company’s stock valued at $3,856,000 after buying an additional 1,103 shares during the period. Parkside Financial Bank & Trust increased its stake in shares of BP p.l.c. by 92.4% in the first quarter. Parkside Financial Bank & Trust now owns 2,886 shares of the oil and gas exploration company’s stock valued at $100,000 after buying an additional 1,386 shares during the period. Feltz Wealth PLAN Inc. bought a new stake in shares of BP p.l.c. during the first quarter valued at about $106,000. Crestwood Advisors Group LLC bought a new stake in shares of BP p.l.c. during the first quarter valued at about $114,000. Finally, IHT Wealth Management LLC increased its stake in shares of BP p.l.c. by 21.4% in the first quarter. IHT Wealth Management LLC now owns 3,903 shares of the oil and gas exploration company’s stock valued at $135,000 after buying an additional 689 shares during the period. 9.95% of the stock is currently owned by institutional investors and hedge funds.
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.
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