BP p.l.c. (NYSE:BP) Given Average Recommendation of “Hold” by Analysts

Shares of BP p.l.c. (NYSE:BP) have earned an average rating of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $43.88.

A number of research analysts recently commented on BP shares. Wells Fargo & Company boosted their price target on BP from $38.00 to $42.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Erste Group Bank reiterated a “hold” rating on shares of BP in a research report on Friday, June 14th. Scotiabank lifted their target price on BP from $45.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Raymond James lifted their target price on BP from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Finally, TD Securities lifted their target price on BP from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th.

BP Stock Up 0.6 %

BP opened at $36.98 on Thursday. BP has a fifty-two week low of $33.52 and a fifty-two week high of $40.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.94 and a current ratio of 1.23. The company has a market capitalization of $103.01 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.91 and a beta of 0.65. The stock has a fifty day moving average of $36.92 and a 200-day moving average of $36.55.

BP (NYSE:BP) last posted its earnings results on Tuesday, May 7th. The oil and gas exploration company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). BP had a return on equity of 13.49% and a net margin of 4.51%. The firm had revenue of $48.88 billion for the quarter, compared to analyst estimates of $53.65 billion. During the same period in the prior year, the business posted $1.66 EPS. The firm’s quarterly revenue was down 13.0% compared to the same quarter last year. On average, equities analysts expect that BP will post 4.72 EPS for the current year.

BP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 17th were paid a $0.4362 dividend. This represents a $1.74 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Thursday, May 16th. BP’s dividend payout ratio (DPR) is presently 53.92%.

Hedge Funds Weigh In On BP

A number of institutional investors have recently modified their holdings of the company. PSquared Asset Management AG acquired a new position in shares of BP during the fourth quarter worth approximately $50,315,000. OLD Mission Capital LLC raised its position in BP by 145.5% in 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 buying an additional 388,931 shares during the last quarter. Wedge Capital Management L L P NC raised its position in BP by 15.0% in the 4th quarter. Wedge Capital Management L L P NC now owns 500,704 shares of the oil and gas exploration company’s stock valued at $17,725,000 after buying an additional 65,425 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in BP by 13.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 487,648 shares of the oil and gas exploration company’s stock valued at $17,263,000 after buying an additional 59,379 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in BP by 2.4% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 467,250 shares of the oil and gas exploration company’s stock valued at $18,092,000 after buying an additional 11,000 shares during the last quarter. 11.01% of the stock is owned by institutional investors and hedge funds.

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.