Jefferies Group Equities Analysts Lift Earnings Estimates for BP plc (BP)

BP plc (NYSE:BP) – Investment analysts at Jefferies Group lifted their FY2017 earnings estimates for shares of BP in a report issued on Friday. Jefferies Group analyst J. Gammel now expects that the oil and gas exploration company will post earnings per share of $1.88 for the year, up from their prior forecast of $1.83. Jefferies Group also issued estimates for BP’s Q4 2017 earnings at $0.66 EPS, FY2018 earnings at $2.80 EPS and FY2020 earnings at $2.94 EPS.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, October 31st. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.07. BP had a net margin of 1.70% and a return on equity of 4.52%.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of BP from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Tuesday, November 7th. Vetr raised shares of BP from a “hold” rating to a “buy” rating and set a $40.48 price target on the stock in a research note on Friday, November 17th. Evercore ISI increased their price target on shares of BP from $43.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 1st. Scotiabank reaffirmed a “buy” rating and set a $39.00 price target on shares of BP in a research note on Wednesday, November 1st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $39.00 price target on shares of BP in a research note on Thursday, September 28th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $38.63.

BP (BP) opened at $42.40 on Monday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.18. The stock has a market cap of $140,650.00, a P/E ratio of 36.24, a P/E/G ratio of 0.90 and a beta of 0.97. BP has a one year low of $33.10 and a one year high of $43.99.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its holdings in BP by 22.2% during the 3rd quarter. Sterling Capital Management LLC now owns 17,434 shares of the oil and gas exploration company’s stock valued at $670,000 after purchasing an additional 3,164 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in BP by 3.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 369,940 shares of the oil and gas exploration company’s stock valued at $14,217,000 after purchasing an additional 13,323 shares in the last quarter. Zions Bancorporation grew its holdings in BP by 607.3% during the 3rd quarter. Zions Bancorporation now owns 31,056 shares of the oil and gas exploration company’s stock valued at $1,193,000 after purchasing an additional 26,665 shares in the last quarter. Assetmark Inc. grew its holdings in BP by 6.7% during the 3rd quarter. Assetmark Inc. now owns 93,251 shares of the oil and gas exploration company’s stock valued at $3,584,000 after purchasing an additional 5,839 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in BP by 8.0% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 339,585 shares of the oil and gas exploration company’s stock valued at $13,050,000 after purchasing an additional 25,138 shares in the last quarter. 9.94% of the stock is owned by institutional investors and hedge funds.

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BP 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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