BP p.l.c. (NYSE:BP) Given Average Rating of “Moderate Buy” by Brokerages

BP p.l.c. (NYSE:BP) has earned an average rating of “Moderate Buy” from the twenty-four brokerages that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, eleven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $46.1417.

A number of equities analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of BP from an “equal weight” rating to an “overweight” rating and set a $49.40 target price on the stock in a research report on Tuesday, March 24th. Wall Street Zen lowered shares of BP from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 20th. Royal Bank Of Canada upgraded shares of BP from a “sector perform” rating to an “outperform” rating in a research report on Monday, May 11th. BNP Paribas Exane set a $57.00 target price on shares of BP and gave the stock an “outperform” rating in a research report on Friday, April 17th. Finally, Piper Sandler raised their target price on shares of BP from $44.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th.

BP Stock Down 0.0%

BP stock opened at $37.11 on Monday. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The stock has a market cap of $97.20 billion, a P/E ratio of 30.93, a PEG ratio of 0.67 and a beta of 0.14. The company’s 50 day moving average is $43.43 and its two-hundred day moving average is $40.63. BP has a twelve month low of $29.85 and a twelve month high of $48.27.

BP (NYSE:BP) last announced its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.24. The business had revenue of $52.26 billion for the quarter, compared to analyst estimates of $48.50 billion. BP had a net margin of 1.62% and a return on equity of 12.06%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. Research analysts expect that BP will post 5.24 earnings per share for the current fiscal year.

BP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 15th were given a $0.4992 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Friday, May 15th. BP’s dividend payout ratio (DPR) is 165.00%.

Hedge Funds Weigh In On BP

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in BP in the 3rd quarter valued at $1,352,000. Gabelli Funds LLC grew its position in BP by 6.0% in the 4th quarter. Gabelli Funds LLC now owns 392,400 shares of the oil and gas exploration company’s stock valued at $13,628,000 after buying an additional 22,100 shares during the last quarter. Sound Shore Management Inc. CT purchased a new position in BP in the 4th quarter valued at $67,890,000. Milford Funds Ltd. purchased a new position in BP in the 4th quarter valued at $8,335,000. Finally, Winning Points Advisors LLC purchased a new position in BP in the 4th quarter valued at $659,000. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP signed a concession agreement with ADNOC and partners to develop the Bab Gas Cap project in the UAE, taking a 10% stake. The deal gives BP direct access to Abu Dhabi upstream gas resources and supports its LNG growth strategy. BP signs concession deal with ADNOC, partners for Bab Gas Cap project
• Positive Sentiment: BP also joined TotalEnergies in the Bab Gas Cap project, reinforcing the company’s push to deepen its Middle East gas portfolio and potentially improving long-term production visibility. BP, TotalEnergies Join Bab Gas Cap Project in Abu Dhabi
• Positive Sentiment: BP said its new organizational structure, effective July 1, is designed to simplify the business, improve operational performance, and create more shareholder value, which may support longer-term investor confidence. BP Is Reshaping Its Entire Business Structure—What Management Is Trying to Achieve
• Neutral Sentiment: ONGC signed a technical services deal with bp for the Western Offshore Basin, adding another international partnership that could modestly support BP’s upstream presence. ONGC signs technical services deal with bp for Western Offshore Basin
• Neutral Sentiment: BP’s short interest rose sharply in June, which can signal growing bearish sentiment among traders and add pressure to the shares.
• Negative Sentiment: Reports that BP shares have been falling in London this week point to broader weakness in investor sentiment toward the stock and the energy sector. Here’s why the BP and Shell shares are falling in London this week
• Negative Sentiment: A lawsuit alleging BP and other retailers used AI to raise gas prices adds headline risk and could weigh on the stock if legal scrutiny intensifies. Walmart, 7-Eleven, Albertsons, and BP used AI to raise gas prices, lawsuit alleges
• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of BP investors, which can increase legal overhang and keep sentiment cautious. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of BP p.l.c. – BP

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.