Weekly Research Analysts’ Ratings Changes for BP (BP)

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

• 4/18/2024 – BP had its price target raised by analysts at Piper Sandler from $40.00 to $43.00. They now have a “neutral” rating on the stock.
• 4/15/2024 – BP had its price target raised by analysts at Raymond James from $42.00 to $45.00. They now have an “outperform” rating on the stock.
• 4/11/2024 – BP had its price target raised by analysts at Scotiabank from $45.00 to $47.00. They now have a “sector outperform” rating on the stock.
• 4/11/2024 – BP had its price target raised by analysts at Wells Fargo & Company from $38.00 to $42.00. They now have an “equal weight” rating on the stock.
• 4/3/2024 – BP was upgraded by analysts at Erste Group Bank AG from a “hold” rating to a “buy” rating.
• 3/14/2024 – BP had its price target raised by analysts at Piper Sandler from $38.00 to $40.00. They now have a “neutral” rating on the stock.
• 3/4/2024 – BP was upgraded by analysts at Jefferies Financial Group Inc. from a “hold” rating to a “buy” rating. They now have a $42.30 price target on the stock, up previously from $38.60.

BP Trading Down 1.4 %

NYSE:BP opened at $38.23 on Thursday. BP p.l.c. 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 current ratio of 1.21 and a quick ratio of 0.94. The stock has a market cap of $107.65 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 2.71 and a beta of 0.68. The stock’s 50-day moving average is $37.72 and its two-hundred day moving average is $36.52.

BP (NYSE:BP) last released its quarterly earnings data on Tuesday, February 6th. The oil and gas exploration company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.11. BP had a return on equity of 16.00% and a net margin of 7.15%. The firm had revenue of $52.14 billion for the quarter, compared to the consensus estimate of $53.14 billion. During the same quarter in the prior year, the company posted $1.59 earnings per share. The firm’s revenue was down 24.7% on a year-over-year basis. As a group, equities research analysts forecast that BP p.l.c. will post 5.02 earnings per share for the current fiscal year.

BP Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, February 16th were issued a dividend of $0.4362 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.74 annualized dividend and a yield of 4.56%. BP’s dividend payout ratio (DPR) is currently 33.79%.

Hedge Funds Weigh In On BP

A number of institutional investors have recently modified their holdings of BP. EverSource Wealth Advisors LLC boosted its stake in BP by 2.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 13,245 shares of the oil and gas exploration company’s stock valued at $469,000 after purchasing an additional 333 shares during the period. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of BP by 1.7% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 20,715 shares of the oil and gas exploration company’s stock worth $733,000 after purchasing an additional 345 shares during the period. Confluence Wealth Services Inc. lifted its stake in shares of BP by 5.6% in the third quarter. Confluence Wealth Services Inc. now owns 10,962 shares of the oil and gas exploration company’s stock valued at $424,000 after buying an additional 577 shares during the period. GAMMA Investing LLC grew its position in BP by 27.0% during the first quarter. GAMMA Investing LLC now owns 2,755 shares of the oil and gas exploration company’s stock worth $104,000 after buying an additional 586 shares in the last quarter. Finally, Indiana Trust & Investment Management CO increased its stake 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 acquiring an additional 665 shares during the period. Institutional investors own 11.01% of the company’s stock.

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.