BP (NYSE:BP) Upgraded at Jefferies Financial Group

Jefferies Financial Group upgraded shares of BP (NYSE:BPFree Report) from a hold rating to a buy rating in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has $42.30 price target on the oil and gas exploration company’s stock, up from their previous price target of $38.60.

Other analysts have also recently issued research reports about the company. Scotiabank increased their target price on BP from $41.00 to $45.00 and gave the stock a sector outperform rating in a research report on Wednesday, February 7th. Piper Sandler cut their target price on BP from $45.00 to $38.00 and set a neutral rating for the company in a research report on Monday, January 8th. Finally, TD Securities increased their target price on BP from $41.00 to $43.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $42.26.

Check Out Our Latest Report on BP

BP Stock Up 1.7 %

BP stock opened at $36.42 on Monday. BP has a fifty-two week low of $33.52 and a fifty-two week high of $40.84. The business’s 50-day moving average is $35.31 and its two-hundred day moving average is $36.45. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.94 and a current ratio of 1.21. The company has a market cap of $103.68 billion, a price-to-earnings ratio of 7.16, a P/E/G ratio of 1.83 and a beta of 0.68.

BP (NYSE:BPGet Free Report) last posted its earnings results on Tuesday, February 6th. The oil and gas exploration company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.11. BP had a return on equity of 16.00% and a net margin of 7.15%. The company had revenue of $52.14 billion for the quarter, compared to the consensus estimate of $53.14 billion. During the same quarter in the prior year, the company earned $1.59 earnings per share. BP’s revenue was down 24.7% on a year-over-year basis. As a group, analysts forecast that BP will post 4.88 earnings per share for the current year.

BP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, February 16th will be paid a dividend of $0.4362 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend is Thursday, February 15th. BP’s dividend payout ratio is currently 33.79%.

Institutional Investors Weigh In On BP

Institutional investors and hedge funds have recently modified their holdings of the business. Vima LLC bought a new stake in BP during the 4th quarter valued at $337,000. Sanibel Captiva Trust Company Inc. bought a new stake in BP during the 4th quarter valued at $607,000. Baker Avenue Asset Management LP raised its position in BP by 72.6% during the 4th quarter. Baker Avenue Asset Management LP now owns 79,317 shares of the oil and gas exploration company’s stock valued at $2,808,000 after purchasing an additional 33,376 shares in the last quarter. Fayez Sarofim & Co raised its position in BP by 11.3% during the 4th quarter. Fayez Sarofim & Co now owns 9,963 shares of the oil and gas exploration company’s stock valued at $362,000 after purchasing an additional 1,015 shares in the last quarter. Finally, OLD Mission Capital LLC raised its position in BP by 145.5% during the 4th quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock valued at $23,233,000 after purchasing an additional 388,931 shares in the last quarter. 11.01% of the stock is owned by institutional investors.

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.

Featured Articles

Analyst Recommendations for BP (NYSE:BP)

Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.