BP p.l.c. (NYSE:BP) Receives $35.17 Consensus Target Price from Brokerages

Shares of BP p.l.c. (NYSE:BP) have received a consensus rating of “Hold” from the twenty brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has issued a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $35.50.

Several brokerages have commented on BP. Piper Sandler raised their price target on shares of BP from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group downgraded shares of BP from a “buy” rating to a “neutral” rating in a report on Thursday, April 10th. Morgan Stanley downgraded shares of BP from an “equal weight” rating to an “underweight” rating and set a $26.50 target price on the stock. in a report on Monday, May 12th. Wells Fargo & Company boosted their price objective on shares of BP from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Thursday, June 26th. Finally, Jefferies Financial Group set a $29.00 target price on shares of BP and gave the stock a “hold” rating in a research report on Monday, May 19th.

Hedge Funds Weigh In On BP

Several institutional investors and hedge funds have recently bought and sold shares of BP. ARK & TLK Investments LLC acquired a new stake in shares of BP in the fourth quarter worth $434,000. GAMMA Investing LLC boosted its stake in BP by 5,751.4% during the 1st quarter. GAMMA Investing LLC now owns 207,606 shares of the oil and gas exploration company’s stock valued at $7,015,000 after acquiring an additional 204,058 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in shares of BP by 333.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 68,980 shares of the oil and gas exploration company’s stock worth $2,332,000 after buying an additional 53,054 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of BP by 486.9% in the 1st quarter. Bank of New York Mellon Corp now owns 2,787,644 shares of the oil and gas exploration company’s stock worth $94,195,000 after buying an additional 2,312,687 shares during the last quarter. Finally, Cozad Asset Management Inc. lifted its position in shares of BP by 92.6% in the 4th quarter. Cozad Asset Management Inc. now owns 43,818 shares of the oil and gas exploration company’s stock worth $1,295,000 after buying an additional 21,064 shares during the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Stock Performance

NYSE:BP opened at $32.01 on Monday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 1.22. The stock has a market capitalization of $86.02 billion, a P/E ratio of -69.59, a PEG ratio of 1.95 and a beta of 0.54. The company has a 50 day moving average price of $30.39 and a 200 day moving average price of $30.95. BP has a fifty-two week low of $25.22 and a fifty-two week high of $35.61.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, April 29th. The oil and gas exploration company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.03). BP had a positive return on equity of 9.51% and a negative net margin of 0.62%. The company had revenue of $46.91 billion for the quarter, compared to analysts’ expectations of $40.12 billion. During the same period in the previous year, the business posted $0.97 EPS. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. Equities research analysts forecast that BP will post 3.53 EPS for the current year.

BP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 16th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 6.00%. The ex-dividend date was Friday, May 16th. BP’s dividend payout ratio (DPR) is -413.04%.

About BP

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.