BP (NYSE:BP) PT Raised to $43.00 at Piper Sandler

BP (NYSE:BP) had its price objective increased by equities research analysts at Piper Sandler from $40.00 to $43.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. Piper Sandler’s price target points to a potential upside of 11.98% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Raymond James lifted their price objective on BP from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday. Wells Fargo & Company lifted their price target on BP from $38.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Jefferies Financial Group upgraded BP from a “hold” rating to a “buy” rating and lifted their price target for the company from $38.60 to $42.30 in a research report on Monday, March 4th. TD Securities lifted their price target on BP from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Erste Group Bank upgraded BP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, BP presently has an average rating of “Hold” and an average target price of $43.72.

BP Price Performance

NYSE BP traded up $0.03 during trading on Thursday, reaching $38.40. The company’s stock had a trading volume of 1,102,935 shares, compared to its average volume of 9,360,064. The stock has a market capitalization of $108.14 billion, a PE ratio of 7.54, a P/E/G ratio of 1.97 and a beta of 0.68. 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 firm has a fifty day moving average of $37.09 and a 200 day moving average of $36.46. BP has a one year low of $33.52 and a one year high of $40.84.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 6th. The oil and gas exploration company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.11. The firm had revenue of $52.14 billion for the quarter, compared to analyst estimates of $53.14 billion. BP had a return on equity of 16.00% and a net margin of 7.15%. The business’s quarterly revenue was down 24.7% compared to the same quarter last year. During the same period last year, the company earned $1.59 EPS. Analysts expect that BP will post 4.89 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Cowa LLC raised its stake in shares of BP by 10,274.3% in the first quarter. Cowa LLC now owns 2,070,297 shares of the oil and gas exploration company’s stock worth $609,000 after purchasing an additional 2,050,341 shares during the last quarter. PSquared Asset Management AG purchased a new position in shares of BP in the fourth quarter worth $50,315,000. New York State Common Retirement Fund raised its stake in shares of BP by 32.7% in the third quarter. New York State Common Retirement Fund now owns 1,418,113 shares of the oil and gas exploration company’s stock worth $54,909,000 after purchasing an additional 349,766 shares during the last quarter. OLD Mission Capital LLC raised its stake in shares of BP by 145.5% in the fourth quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock worth $23,233,000 after purchasing an additional 388,931 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its stake in shares of BP by 15.0% in the fourth quarter. Wedge Capital Management L L P NC now owns 500,704 shares of the oil and gas exploration company’s stock worth $17,725,000 after purchasing an additional 65,425 shares during the last quarter. Hedge funds and other institutional investors own 11.01% of the company’s stock.

BP Company Profile

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.