BP (BP) Raised to “Buy” at Societe Generale

BP (NYSE:BP) was upgraded by research analysts at Societe Generale from a “hold” rating to a “buy” rating in a report released on Monday, MarketBeat reports.

Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of BP from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective for the company in a research note on Monday, January 29th. Piper Jaffray Companies restated a “buy” rating and set a $51.00 price objective on shares of BP in a research note on Wednesday, January 24th. Vetr cut shares of BP from a “buy” rating to a “hold” rating and set a $41.28 price objective for the company. in a research note on Tuesday, December 12th. TheStreet upgraded shares of BP from a “c” rating to a “b” rating in a research note on Wednesday, November 8th. Finally, Scotiabank restated a “buy” rating and set a $39.00 price objective on shares of BP in a research note on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $40.05.

BP (NYSE BP) traded up $0.76 during mid-day trading on Monday, reaching $39.87. 7,223,889 shares of the company were exchanged, compared to its average volume of 6,580,000. The firm has a market cap of $132,130.00, a PE ratio of 38.71, a PEG ratio of 0.75 and a beta of 0.92. The company has a quick ratio of 0.86, a current ratio of 1.16 and a debt-to-equity ratio of 0.55. BP has a one year low of $33.10 and a one year high of $44.62.

BP (NYSE:BP) last released its earnings results on Tuesday, February 6th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.02). The company had revenue of $67.82 billion during the quarter, compared to analyst estimates of $56.85 billion. BP had a return on equity of 6.19% and a net margin of 1.39%. The firm’s revenue for the quarter was up 33.0% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. sell-side analysts anticipate that BP will post 2.81 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of BP. MPS Loria Financial Planners LLC purchased a new stake in BP in the 2nd quarter worth $418,000. Park National Corp OH increased its holdings in BP by 6.0% in the 3rd quarter. Park National Corp OH now owns 67,699 shares of the oil and gas exploration company’s stock worth $2,602,000 after acquiring an additional 3,827 shares in the last quarter. Butensky & Cohen Financial Security Inc. increased its holdings in BP by 7.3% in the 3rd quarter. Butensky & Cohen Financial Security Inc. now owns 49,776 shares of the oil and gas exploration company’s stock worth $1,913,000 after acquiring an additional 3,370 shares in the last quarter. Edge Wealth Management LLC increased its holdings in BP by 40.4% in the 3rd quarter. Edge Wealth Management LLC now owns 315,151 shares of the oil and gas exploration company’s stock worth $12,111,000 after acquiring an additional 90,622 shares in the last quarter. Finally, Aperio Group LLC increased its holdings in BP by 5.4% in the 3rd quarter. Aperio Group LLC now owns 600,460 shares of the oil and gas exploration company’s stock worth $23,076,000 after acquiring an additional 30,762 shares in the last quarter. 10.02% of the stock is owned by institutional investors.

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About BP

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.

Analyst Recommendations for BP (NYSE:BP)

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