BP p.l.c. (BP) Given Average Recommendation of “Hold” by Brokerages
BP p.l.c. (NYSE:BP) has been given an average recommendation of “Hold” by the twenty-six research firms that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $36.28.
BP has been the subject of several research analyst reports. BidaskClub lowered BP p.l.c. from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Jefferies Group LLC set a $36.00 price objective on BP p.l.c. and gave the company a “hold” rating in a research note on Tuesday, August 29th. Zacks Investment Research raised BP p.l.c. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 6th. BMO Capital Markets raised BP p.l.c. from a “market perform” rating to an “outperform” rating in a research note on Monday, September 18th. Finally, Societe Generale lowered BP p.l.c. from a “buy” rating to a “hold” rating and dropped their price objective for the company from $35.04 to $34.90 in a research note on Wednesday, July 26th.
Shares of BP p.l.c. (NYSE BP) traded up 0.32% during mid-day trading on Friday, hitting $37.82. The company had a trading volume of 5,581,451 shares. The company’s 50-day moving average is $35.30 and its 200 day moving average is $35.05. BP p.l.c. has a one year low of $32.53 and a one year high of $38.68. The company has a market capitalization of $124.09 billion, a PE ratio of 33.00 and a beta of 0.93.
BP p.l.c. (NYSE:BP) last posted its quarterly earnings data 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 business had revenue of $56.51 billion for the quarter, compared to the consensus estimate of $56.09 billion. BP p.l.c. had a net margin of 1.74% and a return on equity of 3.64%. BP p.l.c.’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 EPS. On average, equities research analysts forecast that BP p.l.c. will post $1.67 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, August 11th were paid a $0.595 dividend. This represents a $2.38 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date was Wednesday, August 9th. BP p.l.c.’s dividend payout ratio (DPR) is presently 206.96%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BP. Parkside Financial Bank & Trust lifted its stake in shares of BP p.l.c. by 92.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 2,886 shares of the oil and gas exploration company’s stock valued at $100,000 after acquiring an additional 1,386 shares during the last quarter. Burt Wealth Advisors lifted its stake in shares of BP p.l.c. by 6.8% in the 2nd quarter. Burt Wealth Advisors now owns 3,136 shares of the oil and gas exploration company’s stock valued at $108,000 after acquiring an additional 200 shares during the last quarter. Vestor Capital LLC bought a new stake in shares of BP p.l.c. in the 2nd quarter valued at about $116,000. Pictet North America Advisors SA bought a new stake in shares of BP p.l.c. in the 1st quarter valued at about $128,000. Finally, IHT Wealth Management LLC lifted its stake in shares of BP p.l.c. by 21.4% in the 1st quarter. IHT Wealth Management LLC now owns 3,903 shares of the oil and gas exploration company’s stock valued at $135,000 after acquiring an additional 689 shares during the last quarter. 10.09% of the stock is owned by institutional investors.
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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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