BP plc (BP) Given Average Rating of “Buy” by Brokerages

BP plc (NYSE:BP) has been given a consensus recommendation of “Buy” by the nineteen ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $44.24.

BP has been the subject of a number of research reports. TheStreet raised shares of BP from a “c+” rating to a “b-” rating in a research report on Monday, May 21st. Goldman Sachs Group upgraded shares of BP from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $43.91 to $54.00 in a research note on Monday, April 23rd. HSBC upgraded shares of BP to a “buy” rating in a research note on Monday, July 30th. Zacks Investment Research lowered shares of BP from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 5th. Finally, ValuEngine lowered shares of BP from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. JNBA Financial Advisors increased its stake in shares of BP by 253.5% during the first quarter. JNBA Financial Advisors now owns 2,107 shares of the oil and gas exploration company’s stock worth $211,000 after acquiring an additional 1,511 shares during the period. Elmwood Wealth Management Inc. acquired a new position in shares of BP during the first quarter worth about $107,000. Tower Research Capital LLC TRC increased its stake in shares of BP by 1,375.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,950 shares of the oil and gas exploration company’s stock worth $135,000 after acquiring an additional 2,750 shares during the period. Smart Portfolios LLC acquired a new position in shares of BP during the first quarter worth about $142,000. Finally, Clarus Wealth Advisors acquired a new position in shares of BP during the second quarter worth about $165,000. Institutional investors own 10.06% of the company’s stock.

BP traded up $0.47 on Wednesday, reaching $42.38. The company had a trading volume of 4,279,922 shares, compared to its average volume of 6,296,127. BP has a 1 year low of $33.90 and a 1 year high of $47.83. The stock has a market cap of $142.98 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 3.22 and a beta of 0.90. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 0.80.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. BP had a net margin of 2.55% and a return on equity of 9.28%. The firm had revenue of $75.44 billion during the quarter, compared to analysts’ expectations of $82.25 billion. During the same period in the previous year, the company earned $0.21 earnings per share. BP’s quarterly revenue was up 33.5% compared to the same quarter last year. equities analysts expect that BP will post 3.33 EPS for the current fiscal year.

About BP

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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