BP (BP) Raised to “Buy” at Citigroup

Citigroup upgraded shares of BP (NYSE:BP) from a neutral rating to a buy rating in a report issued on Thursday morning, Marketbeat reports.

Several other equities analysts also recently commented on BP. Vetr downgraded shares of BP from a strong-buy rating to a buy rating and set a $44.43 price target for the company. in a research note on Wednesday, March 21st. Zacks Investment Research downgraded shares of BP from a buy rating to a hold rating in a research note on Friday, March 23rd. ValuEngine upgraded shares of BP from a hold rating to a buy rating in a research note on Thursday, March 1st. TheStreet downgraded shares of BP from a b rating to a c+ rating in a research note on Tuesday, February 13th. Finally, Societe Generale upgraded shares of BP from a hold rating to a buy rating in a research note on Monday, February 12th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $40.26.

How to Become a New Pot Stock Millionaire

NYSE:BP opened at $40.54 on Thursday. The firm has a market capitalization of $134,174.02, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 0.82 and a beta of 0.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 0.86. BP has a 52 week low of $33.83 and a 52 week high of $44.62.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, February 6th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). The business had revenue of $67.82 billion during the quarter, compared to analyst estimates of $56.85 billion. BP had a return on equity of 6.19% and a net margin of 1.39%. The business’s revenue was up 33.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 EPS. sell-side analysts anticipate that BP will post 2.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Friday, February 16th were given a $0.60 dividend. The ex-dividend date was Thursday, February 15th. This represents a $2.40 dividend on an annualized basis and a yield of 5.92%. BP’s dividend payout ratio (DPR) is presently 126.60%.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Stonehearth Capital Management LLC purchased a new stake in BP in the fourth quarter valued at $115,000. Itau Unibanco Holding S.A. lifted its position in BP by 121.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 2,740 shares of the oil and gas exploration company’s stock valued at $115,000 after acquiring an additional 1,502 shares during the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new stake in BP in the fourth quarter valued at $129,000. Truewealth LLC purchased a new stake in BP in the fourth quarter valued at $138,000. Finally, Baystate Wealth Management LLC lifted its position in BP by 832.8% in the fourth quarter. Baystate Wealth Management LLC now owns 3,302 shares of the oil and gas exploration company’s stock valued at $143,000 after acquiring an additional 2,948 shares during the last quarter. 10.18% of the stock is owned by hedge funds and other institutional investors.

WARNING: “BP (BP) Raised to “Buy” at Citigroup” was first published by WKRB News and is the property of of WKRB News. If you are viewing this piece on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright legislation. The original version of this piece can be read at https://www.wkrb13.com/2018/04/01/bp-bp-raised-to-buy-at-citigroup.html.

About BP

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

Analyst Recommendations for BP (NYSE:BP)

Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply