BP (NYSE:BP) Stock Rating Upgraded by Wall Street Zen

BP (NYSE:BP) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

A number of other analysts have also recently weighed in on BP. Raymond James Financial lowered their price objective on BP from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Scotiabank set a $41.00 price target on BP in a report on Friday, January 16th. Wolfe Research restated an “outperform” rating and set a $51.00 price objective on shares of BP in a report on Thursday, December 18th. Santander upgraded shares of BP to an “outperform” rating in a research note on Monday, November 3rd. Finally, Citigroup restated a “buy” rating on shares of BP in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $40.41.

BP Stock Down 0.4%

NYSE:BP opened at $37.91 on Friday. The company’s 50-day simple moving average is $35.45 and its 200-day simple moving average is $34.71. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.89 and a current ratio of 1.19. BP has a fifty-two week low of $25.22 and a fifty-two week high of $38.88. The stock has a market capitalization of $98.82 billion, a P/E ratio of 65.36, a P/E/G ratio of 2.11 and a beta of 0.32.

BP (NYSE:BP) last posted its earnings results on Tuesday, November 4th. The oil and gas exploration company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.13. The company had revenue of $48.42 billion during the quarter, compared to analysts’ expectations of $43.76 billion. BP had a net margin of 0.79% and a return on equity of 9.07%. BP’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 earnings per share. On average, equities analysts anticipate that BP will post 3.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Strategic Advocates LLC purchased a new stake in BP in the third quarter valued at $25,000. Heartwood Wealth Advisors LLC acquired a new position in shares of BP in the 3rd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in BP during the second quarter worth about $27,000. Acima Private Wealth LLC purchased a new position in BP during the second quarter valued at approximately $32,000. Finally, YANKCOM Partnership lifted its holdings in BP by 1,068.3% in the fourth quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company’s stock valued at $33,000 after acquiring an additional 876 shares during the period. Hedge funds and other institutional investors own 11.01% of the company’s stock.

BP Company Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.