BP p.l.c. (NYSE:BP) Short Interest Update

BP p.l.c. (NYSE:BP) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 16,532,927 shares, a growth of 80.9% from the May 31st total of 9,136,996 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 7,062,628 shares, the short-interest ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

BP has been the subject of a number of research analyst reports. BNP Paribas Exane set a $57.00 price target on BP and gave the stock an “outperform” rating in a report on Friday, April 17th. Morgan Stanley raised BP from an “equal weight” rating to an “overweight” rating and set a $49.40 price objective for the company in a research report on Tuesday, March 24th. Wells Fargo & Company boosted their target price on BP from $39.00 to $54.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. Royal Bank Of Canada upgraded BP from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of BP in a research report on Thursday, June 18th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.14.

Institutional Trading of BP

Institutional investors have recently modified their holdings of the stock. Sound Shore Management Inc. CT acquired a new position in BP in the fourth quarter valued at about $67,890,000. Public Employees Retirement System of Ohio acquired a new stake in BP during the first quarter worth about $28,136,000. New York State Common Retirement Fund bought a new position in BP in the 4th quarter valued at about $17,768,000. Sagefield Capital LP boosted its position in shares of BP by 125.2% during the 4th quarter. Sagefield Capital LP now owns 493,556 shares of the oil and gas exploration company’s stock worth $17,141,000 after acquiring an additional 274,381 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in BP by 20.7% in the first quarter. Bank of New York Mellon Corp now owns 432,646 shares of the oil and gas exploration company’s stock valued at $20,334,000 after acquiring an additional 74,243 shares during the last quarter. 11.01% of the stock is currently owned by institutional investors.

BP Stock Performance

NYSE BP opened at $36.13 on Thursday. The firm has a 50-day moving average price of $42.90 and a two-hundred day moving average price of $40.65. BP has a 12-month low of $29.99 and a 12-month high of $48.27. The company has a market capitalization of $94.61 billion, a P/E ratio of 30.11, a P/E/G ratio of 0.67 and a beta of 0.17. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.68.

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

BP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, May 15th were paid a dividend of $0.4992 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Friday, May 15th. BP’s dividend payout ratio (DPR) is 165.00%.

Key Headlines Impacting BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP finalized a Technical Services Contract with India’s ONGC, under which BP will support ONGC’s Western Offshore Basin operations. The deal adds another international service and partnership opportunity for BP’s upstream business. BP p.l.c. (BP) Finalizes Technical Services Contract with ONGC
• Positive Sentiment: BP also disclosed that it acquired a 10% stake in the Bab Gas Cap project in the UAE, reinforcing its presence in a major gas growth area and supporting longer-term production potential. BP Acquires 10% Stake in Bab Gas Cap Project in UAE
• Positive Sentiment: Analysts noted BP’s deleveraging efforts, including asset sales, cost cuts, and capital discipline, which could strengthen the company’s financial position over time. Here’s How BP Enhances Financial Strength With Deleveraging Efforts
• Neutral Sentiment: BP was highlighted as a potential beneficiary of a favorable integrated-energy industry backdrop, with solid oil prices and a stable business model cited as supportive factors. 3 Integrated Energy Stocks to Gain From Promising Industry Trend
• Negative Sentiment: BP’s deputy CEO Carol Howle is set to retire later this year, and her role will not be replaced, adding to recent management turnover and raising concerns about leadership stability. BP deputy CEO Carol Howle retiring, role not being replaced
• Negative Sentiment: Broader energy-sector weakness also pressured BP as Morgan Stanley cut its oil forecast, warning of a possible global supply glut that could weigh on crude prices and energy stocks. BP, Shell, Chevron shares on edge as Morgan Stanley slashes oil forecast

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.