BP (NYSE:BP) PT Raised to $43.00

BP (NYSE:BP) had its target price increased by Piper Sandler from $40.00 to $43.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

Other research analysts have also recently issued reports about the stock. Jefferies Financial Group raised shares of BP from a hold rating to a buy rating and lifted their target price for the stock from $38.60 to $42.30 in a report on Monday, March 4th. Scotiabank lifted their target price on shares of BP from $45.00 to $47.00 and gave the stock a sector outperform rating in a report on Thursday, April 11th. Raymond James lifted their target price on shares of BP from $42.00 to $45.00 and gave the stock an outperform rating in a report on Monday. Wells Fargo & Company lifted their target price on shares of BP from $38.00 to $42.00 and gave the stock an equal weight rating in a report on Thursday, April 11th. Finally, TD Securities lifted their target price on shares of BP from $41.00 to $43.00 and gave the stock a buy rating in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $43.72.

BP Trading Down 1.2 %

NYSE:BP opened at $37.92 on Thursday. BP has a one year low of $33.52 and a one year high of $40.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.94. The company’s 50-day simple moving average is $37.13 and its 200 day simple moving average is $36.47. The firm has a market capitalization of $106.79 billion, a P/E ratio of 7.45, a PEG ratio of 1.97 and a beta of 0.68.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, February 6th. The oil and gas exploration company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.96 by $0.11. BP had a net margin of 7.15% and a return on equity of 16.00%. The business had revenue of $52.14 billion for the quarter, compared to analyst estimates of $53.14 billion. During the same quarter in the previous year, the firm posted $1.59 earnings per share. BP’s quarterly revenue was down 24.7% on a year-over-year basis. As a group, analysts forecast that BP will post 4.89 EPS for the current fiscal year.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, February 16th were issued a dividend of $0.4362 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.74 annualized dividend and a dividend yield of 4.60%. BP’s payout ratio is 33.79%.

Institutional Trading of BP

Several large investors have recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO grew its position in BP by 73.1% during the first quarter. Indiana Trust & Investment Management CO now owns 1,575 shares of the oil and gas exploration company’s stock valued at $59,000 after buying an additional 665 shares during the period. Future Financial Wealth Managment LLC bought a new stake in BP during the first quarter valued at approximately $106,000. Rise Advisors LLC bought a new stake in BP during the first quarter valued at approximately $61,000. Neville Rodie & Shaw Inc. grew its position in BP by 4.4% during the first quarter. Neville Rodie & Shaw Inc. now owns 135,358 shares of the oil and gas exploration company’s stock valued at $5,100,000 after buying an additional 5,704 shares during the period. Finally, Emprise Bank bought a new stake in BP during the first quarter valued at approximately $228,000. 11.01% of the stock is currently owned by institutional investors.

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.