BP (BP) – Investment Analysts’ Recent Ratings Changes

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

• 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.
• 8/8/2024 – BP was upgraded by analysts at Hsbc Global Res to a “hold” rating.
• 8/8/2024 – BP was downgraded by analysts at HSBC Holdings plc from a “buy” rating to a “hold” rating.
• 8/7/2024 – BP was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating.

BP Stock Down 1.0 %

NYSE BP traded down $0.31 during trading on Thursday, hitting $32.06. The stock had a trading volume of 1,854,727 shares, compared to its average volume of 8,353,643. The company has a market capitalization of $88.81 billion, a PE ratio of 10.05, a P/E/G ratio of 4.27 and a beta of 0.64. BP p.l.c. has a 12 month low of $30.52 and a 12 month high of $40.84. The company’s 50-day moving average price is $33.18 and its two-hundred day moving average price is $35.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.24.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.08. BP had a return on equity of 13.83% and a net margin of 3.60%. The firm had revenue of $47.30 billion for the quarter, compared to analyst estimates of $55.82 billion. During the same quarter in the previous year, the firm earned $0.89 EPS. The business’s quarterly revenue was down 2.6% on a year-over-year basis. As a group, sell-side analysts forecast that BP p.l.c. will post 3.85 EPS for the current year.

BP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 9th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.99%. This is a boost from BP’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, August 9th. BP’s dividend payout ratio (DPR) is presently 59.56%.

Hedge Funds Weigh In On BP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new stake in shares of BP during the first quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in BP in the second quarter valued at about $33,000. Quent Capital LLC acquired a new position in BP in the second quarter valued at about $38,000. Guardian Wealth Management Inc. raised its stake in BP by 576.0% in the fourth quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock valued at $40,000 after purchasing an additional 962 shares in the last quarter. Finally, Independence Bank of Kentucky raised its stake in BP by 85.7% in the second quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company’s stock valued at $47,000 after purchasing an additional 600 shares in the last quarter. 11.01% of the stock is 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.