BP p.l.c. (NYSE:BP) Receives $123.66 Consensus Target Price from Analysts

BP p.l.c. (NYSE:BPGet Rating) has been given an average recommendation of “Hold” by the twenty-one analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $123.66.

A number of equities research analysts have weighed in on the stock. TD Securities boosted their target price on shares of BP from $34.00 to $36.00 and gave the company a “hold” rating in a research note on Wednesday, May 4th. Raymond James increased their price objective on shares of BP from $37.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, April 18th. Royal Bank of Canada upgraded shares of BP from a “sector perform” rating to an “outperform” rating in a research report on Friday, February 25th. Bank of America upgraded shares of BP from an “underperform” rating to a “neutral” rating in a research report on Tuesday, March 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of BP from GBX 480 ($6.04) to GBX 500 ($6.29) in a research report on Tuesday, April 19th.

NYSE BP traded down $0.11 during trading hours on Friday, reaching $32.56. 8,400,322 shares of the stock traded hands, compared to its average volume of 15,947,816. The stock has a 50 day simple moving average of $30.51 and a two-hundred day simple moving average of $29.60. BP has a 1 year low of $22.64 and a 1 year high of $34.16. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.19 and a quick ratio of 0.89. The company has a market cap of $106.48 billion, a price-to-earnings ratio of -6.02, a price-to-earnings-growth ratio of 0.91 and a beta of 0.73.

BP (NYSE:BPGet Rating) last posted its earnings results on Tuesday, May 3rd. The oil and gas exploration company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.51. The company had revenue of $49.26 billion for the quarter, compared to analysts’ expectations of $53.20 billion. BP had a positive return on equity of 18.70% and a negative net margin of 9.77%. BP’s quarterly revenue was up 42.6% on a year-over-year basis. During the same period last year, the firm earned $0.77 earnings per share. On average, sell-side analysts forecast that BP will post 6.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Investors of record on Friday, May 13th will be issued a $0.3276 dividend. This represents a $1.31 dividend on an annualized basis and a yield of 4.02%. This is an increase from BP’s previous quarterly dividend of $0.32. The ex-dividend date is Thursday, May 12th. BP’s payout ratio is presently -23.84%.

A number of hedge funds have recently made changes to their positions in the business. OLD Mission Capital LLC bought a new position in shares of BP during the third quarter worth about $5,316,000. Eagle Asset Management Inc. lifted its stake in BP by 9.6% during the third quarter. Eagle Asset Management Inc. now owns 10,629 shares of the oil and gas exploration company’s stock valued at $290,000 after buying an additional 933 shares in the last quarter. Assetmark Inc. lifted its stake in BP by 98.6% during the third quarter. Assetmark Inc. now owns 2,949 shares of the oil and gas exploration company’s stock valued at $81,000 after buying an additional 1,464 shares in the last quarter. Laird Norton Trust Company LLC purchased a new stake in BP during the third quarter valued at about $401,000. Finally, Wintrust Investments LLC lifted its position in shares of BP by 9.6% in the third quarter. Wintrust Investments LLC now owns 12,619 shares of the oil and gas exploration company’s stock worth $345,000 after purchasing an additional 1,106 shares in the last quarter. 8.78% of the stock is currently owned by hedge funds and other institutional investors.

BP Company Profile (Get Rating)

BP p.l.c. engages in the energy business worldwide. It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. It produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such as hydrogen and carbon capture and storage.

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Analyst Recommendations for BP (NYSE:BP)

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