BP (BP) Upgraded to Outperform at Raymond James

Raymond James upgraded shares of BP (NYSE:BP) from a market perform rating to an outperform rating in a report published on Tuesday, MarketBeat reports. The analysts noted that the move was a valuation call.

BP has been the topic of a number of other reports. Redburn Partners upgraded BP from a neutral rating to a buy rating and set a $90.00 price objective on the stock in a research report on Wednesday, October 3rd. Zacks Investment Research lowered BP from a buy rating to a hold rating in a research report on Wednesday, July 25th. HSBC upgraded BP to a buy rating in a research report on Monday, July 30th. Goldman Sachs Group upgraded BP from a buy rating to a conviction-buy rating in a research report on Thursday, August 9th. Finally, ValuEngine lowered BP from a buy rating to a hold rating in a research report on Friday, August 3rd. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. BP currently has a consensus rating of Buy and an average price target of $53.22.

NYSE BP opened at $39.89 on Tuesday. The company has a market cap of $137.26 billion, a P/E ratio of 21.22, a price-to-earnings-growth ratio of 0.65 and a beta of 0.85. BP has a one year low of $36.15 and a one year high of $47.83. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.91 and a current ratio of 1.22.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.29. The business had revenue of $79.47 billion for the quarter, compared to analyst estimates of $75.31 billion. BP had a return on equity of 11.14% and a net margin of 2.91%. BP’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 EPS. Analysts forecast that BP will post 3.6 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, November 9th will be given a $0.615 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $2.46 dividend on an annualized basis and a yield of 6.17%. BP’s payout ratio is 129.79%.

Several hedge funds have recently bought and sold shares of BP. Steward Partners Investment Advisory LLC lifted its stake in shares of BP by 27.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 14,927 shares of the oil and gas exploration company’s stock valued at $682,000 after purchasing an additional 3,206 shares during the period. Harvey Investment Co. LLC acquired a new position in shares of BP in the 2nd quarter valued at $223,000. Janney Montgomery Scott LLC lifted its stake in shares of BP by 9.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 239,020 shares of the oil and gas exploration company’s stock valued at $10,914,000 after purchasing an additional 20,274 shares during the period. Nwam LLC lifted its stake in shares of BP by 4.2% in the 2nd quarter. Nwam LLC now owns 39,670 shares of the oil and gas exploration company’s stock valued at $1,811,000 after purchasing an additional 1,589 shares during the period. Finally, Thomas White International Ltd. lifted its stake in shares of BP by 1.9% in the 2nd quarter. Thomas White International Ltd. now owns 92,402 shares of the oil and gas exploration company’s stock valued at $4,219,000 after purchasing an additional 1,697 shares during the period. 11.04% of the stock is currently owned by institutional investors.

BP Company Profile

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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Analyst Recommendations for BP (NYSE:BP)

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