BP plc (NYSE:BP) has earned a consensus recommendation of “Buy” from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $53.69.
A number of equities research analysts have recently issued reports on BP shares. Raymond James raised BP from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 20th. They noted that the move was a valuation call. Redburn Partners raised BP from a “neutral” rating to a “buy” rating and set a $90.00 target price on the stock in a research report on Wednesday, October 3rd. Wells Fargo & Co started coverage on BP in a research report on Tuesday, December 18th. They set a “market perform” rating and a $41.00 target price on the stock. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of BP in a research report on Tuesday, October 23rd. Finally, Zacks Investment Research lowered BP from a “buy” rating to a “hold” rating in a research report on Friday, November 16th.
Several hedge funds have recently modified their holdings of BP. BlackRock Inc. grew its holdings in shares of BP by 27.5% during the second quarter. BlackRock Inc. now owns 5,519,415 shares of the oil and gas exploration company’s stock valued at $252,017,000 after buying an additional 1,191,854 shares in the last quarter. FMR LLC grew its holdings in shares of BP by 88.5% during the second quarter. FMR LLC now owns 16,103,626 shares of the oil and gas exploration company’s stock valued at $735,292,000 after buying an additional 7,562,842 shares in the last quarter. AMP Capital Investors Ltd grew its holdings in shares of BP by 1,189.0% during the second quarter. AMP Capital Investors Ltd now owns 76,294 shares of the oil and gas exploration company’s stock valued at $3,483,000 after buying an additional 70,375 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of BP during the second quarter valued at $415,000. Finally, Franklin Square Holdings L.P. grew its holdings in shares of BP by 28.1% during the second quarter. Franklin Square Holdings L.P. now owns 42,350 shares of the oil and gas exploration company’s stock valued at $1,934,000 after buying an additional 9,300 shares in the last quarter. Institutional investors and hedge funds own 11.10% of the company’s stock.
BP (NYSE:BP) last announced its earnings results on Tuesday, October 30th. The oil and gas exploration company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.29. The company 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. On average, research analysts forecast that BP will post 3.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 21st. Stockholders of record on Friday, November 9th were issued a dividend of $0.615 per share. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 6.11%. BP’s dividend payout ratio is 129.79%.
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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