BP (NYSE:BP) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of BP (NYSE:BPFree Report) from a strong-buy rating to a buy rating in a report published on Wednesday morning.

BP has been the subject of several other reports. TD Securities upped their target price on BP from $43.00 to $44.00 and gave the company a buy rating in a research note on Wednesday, May 8th. Erste Group Bank upgraded BP from a hold rating to a buy rating in a report on Wednesday, April 3rd. Piper Sandler boosted their target price on BP from $40.00 to $43.00 and gave the stock a neutral rating in a report on Thursday, April 18th. Raymond James raised their price target on shares of BP from $42.00 to $45.00 and gave the company an outperform rating in a report on Monday, April 15th. Finally, Wells Fargo & Company boosted their price objective on shares of BP from $38.00 to $42.00 and gave the stock an equal weight rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $43.88.

View Our Latest Stock Report on BP

BP Trading Down 0.9 %

NYSE:BP opened at $34.89 on Wednesday. The company has a market capitalization of $97.20 billion, a PE ratio of 10.94, a price-to-earnings-growth ratio of 1.83 and a beta of 0.65. BP has a 52-week low of $33.52 and a 52-week high of $40.84. The stock has a fifty day simple moving average of $37.66 and a 200-day simple moving average of $36.50. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.57.

BP (NYSE:BPGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas exploration company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.06). The company had revenue of $48.88 billion for the quarter, compared to analyst estimates of $53.65 billion. BP had a return on equity of 13.49% and a net margin of 4.51%. The company’s revenue for the quarter was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 earnings per share. On average, equities research analysts expect that BP will post 4.8 earnings per share for the current fiscal year.

BP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 17th will be given a $0.4362 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.74 annualized dividend and a dividend yield of 5.00%. BP’s payout ratio is 53.92%.

Institutional Trading of BP

A number of institutional investors and hedge funds have recently modified their holdings of BP. LRI Investments LLC bought a new stake in shares of BP in the 1st quarter worth approximately $32,000. First United Bank & Trust bought a new position in shares of BP during the fourth quarter worth about $33,000. Versant Capital Management Inc bought a new stake in BP in the 4th quarter valued at about $35,000. Guardian Wealth Management Inc. boosted its stake in BP by 576.0% during the 4th quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock valued at $40,000 after purchasing an additional 962 shares during the period. Finally, MeadowBrook Investment Advisors LLC bought a new position in BP in the 4th quarter worth about $46,000. 11.01% of the stock is owned by institutional investors and hedge funds.

About BP

(Get Free Report)

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.

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Analyst Recommendations for BP (NYSE:BP)

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