BP p.l.c. (BP) Given a $39.00 Price Target at Piper Jaffray Companies
BP p.l.c. (NYSE:BP) received a $39.00 price target from equities research analysts at Piper Jaffray Companies in a report issued on Friday. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 12.91% from the stock’s current price.
Several other brokerages have also recently issued reports on BP. BidaskClub cut BP p.l.c. from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 17th. Zacks Investment Research upgraded BP p.l.c. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Morgan Stanley restated a “buy” rating on shares of BP p.l.c. in a research report on Monday, June 12th. Societe Generale cut BP p.l.c. from a “buy” rating to a “hold” rating and dropped their price target for the company from $35.04 to $34.90 in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC set a $36.00 target price on BP p.l.c. and gave the stock a “hold” rating in a research report on Wednesday, May 17th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $36.26.
Shares of BP p.l.c. (NYSE BP) traded up 1.05% on Friday, reaching $34.54. The company’s stock had a trading volume of 2,948,970 shares. The firm has a 50 day moving average price of $34.99 and a 200-day moving average price of $34.87. BP p.l.c. has a 12-month low of $32.53 and a 12-month high of $38.68. The stock has a market cap of $113.33 billion, a PE ratio of 30.14 and a beta of 0.94.
BP p.l.c. (NYSE:BP) last issued its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.18. The company had revenue of $56.51 billion during the quarter, compared to analyst estimates of $56.09 billion. BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. The business’s revenue was up 21.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. Equities research analysts expect that BP p.l.c. will post $1.69 EPS for the current year.
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Large investors have recently bought and sold shares of the stock. UBS Asset Management Americas Inc. bought a new stake in BP p.l.c. during the fourth quarter worth about $151,000. V Wealth Management LLC raised its stake in BP p.l.c. by 23.9% in the first quarter. V Wealth Management LLC now owns 20,542 shares of the oil and gas exploration company’s stock worth $705,000 after buying an additional 3,967 shares during the last quarter. Northern Capital Management LLC raised its stake in BP p.l.c. by 6.8% in the first quarter. Northern Capital Management LLC now owns 84,174 shares of the oil and gas exploration company’s stock worth $2,906,000 after buying an additional 5,325 shares during the last quarter. Concorde Asset Management LLC raised its stake in BP p.l.c. by 25.7% in the first quarter. Concorde Asset Management LLC now owns 36,887 shares of the oil and gas exploration company’s stock worth $1,279,000 after buying an additional 7,553 shares during the last quarter. Finally, Van Cleef Asset Management Inc raised its stake in BP p.l.c. by 4.1% in the first quarter. Van Cleef Asset Management Inc now owns 189,444 shares of the oil and gas exploration company’s stock worth $6,540,000 after buying an additional 7,389 shares during the last quarter. 9.96% of the stock is currently owned by hedge funds and other institutional investors.
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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