BP p.l.c. (NYSE:BP – Get Free Report) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 10,650,000 shares, a decrease of 31.7% from the February 13th total of 15,600,000 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 11,140,000 shares, the days-to-cover ratio is currently 1.0 days.
BP Trading Up 1.1 %
Shares of BP stock opened at $33.76 on Tuesday. The company has a market capitalization of $90.37 billion, a price-to-earnings ratio of 422.00, a PEG ratio of 1.12 and a beta of 0.58. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.70. BP has a 12-month low of $27.82 and a 12-month high of $40.40. The firm’s 50-day moving average price is $32.44 and its two-hundred day moving average price is $31.22.
BP (NYSE:BP – Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.12). BP had a return on equity of 10.96% and a net margin of 0.20%. On average, analysts forecast that BP will post 3.53 earnings per share for the current fiscal year.
BP Dividend Announcement
Analysts Set New Price Targets
BP has been the subject of several recent research reports. Morgan Stanley reduced their target price on shares of BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Wolfe Research set a $50.00 target price on shares of BP in a report on Tuesday, January 14th. JPMorgan Chase & Co. raised shares of BP from an “underweight” rating to a “neutral” rating in a research report on Thursday, February 20th. StockNews.com lowered shares of BP from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, DZ Bank lowered shares of BP from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, three have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.26.
View Our Latest Analysis on BP
Institutional Investors Weigh In On BP
A number of hedge funds have recently made changes to their positions in BP. Ameriprise Financial Inc. boosted its position in BP by 4.3% during the 4th quarter. Ameriprise Financial Inc. now owns 940,786 shares of the oil and gas exploration company’s stock worth $27,810,000 after buying an additional 38,759 shares during the period. Wedge Capital Management L L P NC boosted its position in BP by 2.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 660,538 shares of the oil and gas exploration company’s stock worth $19,526,000 after buying an additional 14,436 shares during the period. Bank of New York Mellon Corp boosted its position in BP by 30.1% during the 4th quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company’s stock worth $14,040,000 after buying an additional 110,019 shares during the period. Kornitzer Capital Management Inc. KS boosted its position in BP by 2.3% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 465,242 shares of the oil and gas exploration company’s stock worth $13,753,000 after buying an additional 10,262 shares during the period. Finally, Captrust Financial Advisors raised its holdings in BP by 1.2% during the 3rd quarter. Captrust Financial Advisors now owns 440,973 shares of the oil and gas exploration company’s stock worth $13,842,000 after purchasing an additional 5,150 shares during the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.
BP Company Profile
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.
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