BP p.l.c. (BP) Given Average Recommendation of “Hold” by Brokerages
Shares of BP p.l.c. (NYSE:BP) have received an average rating of “Hold” from the twenty-three research firms that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $37.19.
Several analysts have recently weighed in on BP shares. Piper Jaffray Companies set a $39.00 price objective on BP p.l.c. and gave the company a “buy” rating in a report on Friday, August 25th. Scotiabank restated a “buy” rating and issued a $37.00 price objective on shares of BP p.l.c. in a report on Friday, June 30th. Vetr lowered BP p.l.c. from a “strong-buy” rating to a “buy” rating and set a $43.32 price objective for the company. in a report on Wednesday, October 4th. TheStreet lowered BP p.l.c. from a “b-” rating to a “c” rating in a report on Thursday, August 10th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $35.90 price objective on shares of BP p.l.c. in a report on Friday, July 14th.
Shares of BP p.l.c. (NYSE:BP) traded down 0.03% on Thursday, hitting $38.71. The stock had a trading volume of 3,532,026 shares. The company’s 50-day moving average price is $37.31 and its 200 day moving average price is $35.71. BP p.l.c. has a 12-month low of $32.53 and a 12-month high of $39.48. The firm has a market cap of $127.01 billion, a P/E ratio of 33.78 and a beta of 0.95.
BP p.l.c. (NYSE:BP) last announced its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.18). The firm 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 company’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.23 EPS. On average, equities research analysts forecast that BP p.l.c. will post $1.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Friday, August 11th were given a dividend of $0.595 per share. This represents a $2.38 annualized dividend and a yield of 6.15%. The ex-dividend date was Wednesday, August 9th. BP p.l.c.’s payout ratio is 206.96%.
A number of large investors have recently bought and sold shares of the stock. State Street Corp raised its position in BP p.l.c. by 2.0% during the first quarter. State Street Corp now owns 31,138,116 shares of the oil and gas exploration company’s stock valued at $1,074,889,000 after buying an additional 614,408 shares during the period. BlackRock Inc. raised its position in BP p.l.c. by 16,222.8% during the first quarter. BlackRock Inc. now owns 11,803,811 shares of the oil and gas exploration company’s stock valued at $407,466,000 after buying an additional 11,731,496 shares during the period. Morgan Stanley raised its position in BP p.l.c. by 11.2% during the first quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock valued at $213,544,000 after buying an additional 623,612 shares during the period. Brandes Investment Partners LP raised its position in BP p.l.c. by 1.5% during the first quarter. Brandes Investment Partners LP now owns 3,507,691 shares of the oil and gas exploration company’s stock valued at $121,085,000 after buying an additional 50,569 shares during the period. Finally, Parametric Portfolio Associates LLC raised its position in BP p.l.c. by 13.3% during the second quarter. Parametric Portfolio Associates LLC now owns 2,883,066 shares of the oil and gas exploration company’s stock valued at $99,898,000 after buying an additional 338,581 shares during the period. 10.06% 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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