HSBC upgraded shares of BP (NYSE:BP – Free Report) from a reduce rating to a hold rating in a report issued on Friday morning, Marketbeat reports. The brokerage currently has $45.30 price target on the oil and gas exploration company’s stock, up from their prior price target of $35.10.
A number of other research analysts have also issued reports on the company. Melius Research lowered BP from a “buy” rating to a “sell” rating and set a $31.00 target price on the stock. in a report on Wednesday, February 11th. Barclays restated an “overweight” rating on shares of BP in a research report on Friday, December 12th. Wall Street Zen raised BP from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. Piper Sandler increased their price objective on BP from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Finally, Evercore set a $38.00 target price on BP and gave the stock an “in-line” rating in a report on Tuesday, January 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $38.28.
Check Out Our Latest Research Report on BP
BP Price Performance
BP (NYSE:BP – Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The oil and gas exploration company reported $0.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $47.38 billion during the quarter, compared to analyst estimates of $42.19 billion. During the same period last year, the company posted $0.44 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts anticipate that BP will post 3.53 earnings per share for the current fiscal year.
BP Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, February 20th will be paid a dividend of $0.4992 per share. This represents a $2.00 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, February 20th. BP’s payout ratio is -19,800.00%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of BP. Strategic Advocates LLC purchased a new stake in BP in the 3rd quarter worth about $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 purchased a new stake in shares of BP in the second quarter worth approximately $27,000. YANKCOM Partnership boosted its holdings in shares of BP by 1,068.3% during the fourth quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company’s stock worth $33,000 after purchasing an additional 876 shares during the period. Finally, Triumph Capital Management purchased a new position in BP during the third quarter valued at approximately $43,000. Hedge funds and other institutional investors own 11.01% of the company’s stock.
Key BP News
Here are the key news stories impacting BP this week:
- Positive Sentiment: BP agreed to sell its Gelsenkirchen refinery to Klesch Group and raised its cost‑reduction target by about $1bn, which should improve margins and free cash flow. BP divests Gelsenkirchen refinery, increases cost reduction goal
- Positive Sentiment: U.S. approval to advance a Gulf of Mexico project supports upstream production growth and long‑term reserves replacement. BP Granted Approval to Advance Gulf of Mexico Project
- Positive Sentiment: BP, alongside partners, is shipping record volumes of U.S. fuels to Australia to fill supply gaps — a near‑term boost to product margins and trading income. Exxon, BP, Vitol ship most US fuels to Australia
- Positive Sentiment: HSBC upgraded BP to “hold” and raised its price target, a modest vote of confidence from an analyst that may limit downside. HSBC upgrades BP from reduce to hold
- Neutral Sentiment: BP announced a move of its global HQ back to central London (Bankside), a corporate‑structure update with limited immediate financial impact but some relocation costs to consider. BP moves back to central London
- Neutral Sentiment: Analyst writeups highlight BP as a long‑term value play based on cash flow and dividends; useful for buy‑and‑hold investors but not an immediate price mover. Why BP is a Top Value Stock for the Long‑Term
- Negative Sentiment: BP has locked out more than 800 union workers at the Whiting, Indiana refinery; ongoing pickets and a protracted labor dispute could disrupt refining throughput and raise costs. Locked out BP workers picket outside Indiana refinery
- Negative Sentiment: BP and peers face an anticompetitive conduct probe in Australia tied to fuel shipments — potential regulatory scrutiny and fines could weigh on sentiment. BP, Exxon Mobil units face anticompetitive conduct probe in Australia
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.
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