Weekly Research Analysts’ Ratings Updates for BP (BP)

BP (NYSE: BP) has recently received a number of price target changes and ratings updates:

• 10/17/2024 – BP was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 10/11/2024 – BP was upgraded by analysts at The Goldman Sachs Group, Inc. to a “strong-buy” rating.
• 10/10/2024 – BP was downgraded by analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating. They now have a $36.00 price target on the stock, down previously from $42.00.
• 10/9/2024 – BP was downgraded by analysts at BNP Paribas from an “outperform” rating to a “neutral” rating.
• 10/4/2024 – BP was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/27/2024 – BP had its price target lowered by analysts at Wells Fargo & Company from $39.00 to $35.00. They now have an “equal weight” rating on the stock.
• 9/25/2024 – BP was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/24/2024 – BP was downgraded by analysts at Redburn Atlantic from a “buy” rating to a “neutral” rating.
• 9/17/2024 – BP was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

BP Price Performance

Shares of NYSE BP opened at $31.31 on Thursday. The company’s 50-day moving average is $32.51 and its 200 day moving average is $35.10. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.24 and a quick ratio of 0.95. The stock has a market capitalization of $86.73 billion, a P/E ratio of 9.82, a P/E/G ratio of 4.25 and a beta of 0.64. BP p.l.c. has a 1 year low of $30.52 and a 1 year high of $40.40.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.08. BP had a net margin of 3.60% and a return on equity of 13.83%. The company had revenue of $47.30 billion during the quarter, compared to analysts’ expectations of $55.82 billion. During the same period last year, the company posted $0.89 EPS. BP’s revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts expect that BP p.l.c. will post 3.76 earnings per share for the current year.

BP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 9th were issued a $0.48 dividend. This is a positive change from BP’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date was Friday, August 9th. BP’s payout ratio is presently 59.56%.

Institutional Investors Weigh In On BP

Large investors have recently bought and sold shares of the business. Beaumont Financial Advisors LLC bought a new stake in shares of BP during the 1st quarter valued at about $6,682,000. Wedge Capital Management L L P NC grew its holdings in BP by 26.7% during the second quarter. Wedge Capital Management L L P NC now owns 629,568 shares of the oil and gas exploration company’s stock valued at $22,727,000 after purchasing an additional 132,750 shares during the period. Rothschild Investment LLC bought a new position in shares of BP in the second quarter worth about $2,620,000. SG Americas Securities LLC grew its stake in shares of BP by 860.7% during the 3rd quarter. SG Americas Securities LLC now owns 66,464 shares of the oil and gas exploration company’s stock valued at $2,086,000 after acquiring an additional 59,546 shares during the period. Finally, Sanibel Captiva Trust Company Inc. increased its holdings in BP by 147.9% in the 2nd quarter. Sanibel Captiva Trust Company Inc. now owns 43,063 shares of the oil and gas exploration company’s stock worth $1,555,000 after acquiring an additional 25,690 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors.

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.