BP plc (BP) Downgraded to “Buy” at Vetr Inc.
BP plc (NYSE:BP) was downgraded by stock analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday. They currently have a $43.32 price objective on the oil and gas exploration company’s stock. Vetr‘s price objective would indicate a potential upside of 11.62% from the company’s current price.
Several other research firms have also recently weighed in on BP. BidaskClub cut shares of BP plc 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 shares of BP plc and gave the stock a “hold” rating in a report on Tuesday, August 29th. Kepler Capital Markets upgraded shares of BP plc from a “reduce” rating to a “hold” rating in a report on Tuesday, October 3rd. BMO Capital Markets upgraded shares of BP plc from a “market perform” rating to an “outperform” rating in a report on Monday, September 18th. Finally, Societe Generale lowered shares of BP plc from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $35.04 to $34.90 in a report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $37.09.
Shares of BP plc (NYSE BP) traded up 0.91% during mid-day trading on Tuesday, reaching $38.81. The firm has a 50-day moving average price of $36.52 and a 200 day moving average price of $35.52. BP plc has a 12 month low of $32.53 and a 12 month high of $39.00. The company has a market cap of $127.34 billion, a PE ratio of 33.87 and a beta of 0.95.
BP plc (NYSE:BP) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.18). BP plc had a net margin of 0.28% and a return on equity of 0.59%. The firm had revenue of $56.51 billion during the quarter, compared to analysts’ expectations of $56.09 billion. During the same period last year, the company earned $0.23 EPS. The business’s quarterly revenue was up 21.7% on a year-over-year basis. Equities analysts predict that BP plc will post $1.65 EPS for the current year.
Institutional investors have recently modified their holdings of the business. BB&T Securities grew its position in BP plc by 19.2% during the 4th quarter. BB&T Securities now owns 236,447 shares of the oil and gas exploration company’s stock worth $7,391,000 after purchasing an additional 38,144 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in BP plc during the 2nd quarter worth $157,139,000. Rockefeller Financial Services Inc. grew its position in BP plc by 3.3% during the 2nd quarter. Rockefeller Financial Services Inc. now owns 320,984 shares of the oil and gas exploration company’s stock worth $11,398,000 after purchasing an additional 10,194 shares during the last quarter. Gofen & Glossberg LLC IL grew its position in BP plc by 14.6% during the 4th quarter. Gofen & Glossberg LLC IL now owns 40,525 shares of the oil and gas exploration company’s stock worth $1,545,000 after purchasing an additional 5,155 shares during the last quarter. Finally, Private Asset Management grew its position in BP plc by 2.0% during the 4th quarter. Private Asset Management now owns 127,900 shares of the oil and gas exploration company’s stock worth $3,998,000 after purchasing an additional 2,508 shares during the last quarter. 10.05% of the stock is currently owned by institutional investors.
BP plc 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.
To view Vetr’s full report, visit Vetr’s official website.
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