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

BP (NYSE:BP) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

BP has been the subject of several other research reports. Citigroup reissued a “buy” rating on shares of BP in a research note on Monday, November 3rd. Evercore set a $38.00 target price on shares of BP and gave the company an “in-line” rating in a research report on Tuesday, January 6th. Raymond James Financial dropped their price target on shares of BP from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Melius Research cut shares of BP from a “buy” rating to a “sell” rating and set a $31.00 price objective for the company. in a report on Wednesday. Finally, Barclays reiterated an “overweight” rating on shares of BP in a research note on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $37.35.

BP Price Performance

NYSE BP opened at $37.69 on Friday. The company has a 50-day moving average price of $35.84 and a two-hundred day moving average price of $35.12. BP has a 52 week low of $25.22 and a 52 week high of $39.51. The stock has a market cap of $98.24 billion, a price-to-earnings ratio of -3,764.74, a price-to-earnings-growth ratio of 1.75 and a beta of 0.33. The company has a current ratio of 1.26, a quick ratio of 0.89 and a debt-to-equity ratio of 0.74.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 10th. The oil and gas exploration company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. BP had a return on equity of 9.68% and a net margin of 0.03%.The business had revenue of $47.38 billion during the quarter, compared to analyst estimates of $42.19 billion. During the same period in the prior year, the company posted $0.44 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts forecast that BP will post 3.53 EPS for the current year.

Hedge Funds Weigh In On BP

A number of hedge funds have recently modified their holdings of the stock. Strategic Advocates LLC acquired a new stake in shares of BP during the third quarter worth $25,000. Heartwood Wealth Advisors LLC purchased a new position in BP in the 3rd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in BP during the 2nd quarter worth about $27,000. YANKCOM Partnership lifted its stake in BP by 1,068.3% during the fourth quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company’s stock valued at $33,000 after buying an additional 876 shares in the last quarter. Finally, Triumph Capital Management purchased a new position in shares of BP in the third quarter worth approximately $43,000. 11.01% of the stock is currently owned by institutional investors and hedge funds.

About BP

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.