BP (BP) Receives $45.15 Consensus PT from Brokerages

BP (NYSE:BP) has been assigned an average rating of “Buy” from the twenty-one ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $45.15.

Several research analysts have commented on the company. Vetr downgraded BP from a “strong-buy” rating to a “buy” rating and set a $44.43 price target on the stock. in a research report on Wednesday, March 21st. Zacks Investment Research raised BP from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Tuesday, March 6th. Royal Bank of Canada raised BP from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $33.10 to $40.10 in a research report on Monday, February 26th. Morgan Stanley downgraded BP from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 13th. Finally, Goldman Sachs raised BP from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $43.91 to $54.00 in a research report on Monday, April 23rd.

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NYSE BP traded up $0.57 during trading on Monday, hitting $46.40. The company’s stock had a trading volume of 4,768,343 shares, compared to its average volume of 6,263,308. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. The company has a market cap of $151.68 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.03 and a beta of 0.89. BP has a 52 week low of $46.29 and a 52 week high of $46.76.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, May 1st. The oil and gas exploration company reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.11. The company had revenue of $68.17 billion for the quarter, compared to the consensus estimate of $69.40 billion. BP had a return on equity of 7.22% and a net margin of 1.71%. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 EPS. sell-side analysts expect that BP will post 3.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, May 11th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Thursday, May 10th. BP’s dividend payout ratio is presently 126.60%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BP. Dimensional Fund Advisors LP boosted its stake in BP by 12.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 21,017,112 shares of the oil and gas exploration company’s stock valued at $852,034,000 after buying an additional 2,406,870 shares in the last quarter. Acadian Asset Management LLC boosted its stake in BP by 17.3% in the 4th quarter. Acadian Asset Management LLC now owns 6,444,903 shares of the oil and gas exploration company’s stock valued at $270,881,000 after buying an additional 950,489 shares in the last quarter. Brandywine Global Investment Management LLC boosted its stake in BP by 0.5% in the 4th quarter. Brandywine Global Investment Management LLC now owns 6,386,885 shares of the oil and gas exploration company’s stock valued at $268,441,000 after buying an additional 32,693 shares in the last quarter. Renaissance Technologies LLC boosted its stake in BP by 119.2% in the 4th quarter. Renaissance Technologies LLC now owns 5,801,144 shares of the oil and gas exploration company’s stock valued at $243,822,000 after buying an additional 3,155,200 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in BP by 15.7% in the 4th quarter. Russell Investments Group Ltd. now owns 4,727,733 shares of the oil and gas exploration company’s stock valued at $197,908,000 after buying an additional 641,751 shares in the last quarter. Institutional investors and hedge funds own 10.25% of the company’s stock.

BP Company Profile

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

Analyst Recommendations for BP (NYSE:BP)