Santander cut shares of BP (NYSE:BP) from a hold rating to an underperform rating in a research report report published on Monday, The Fly reports.
BP has been the topic of several other reports. Zacks Investment Research upgraded BP from a hold rating to a buy rating and set a $44.00 price objective on the stock in a research report on Monday, March 12th. Royal Bank of Canada upgraded BP from a sector perform rating to an outperform rating and upped their price objective for the company from $33.10 to $40.10 in a research report on Monday, February 26th. Goldman Sachs upgraded BP from a neutral rating to a buy rating and upped their price objective for the company from $43.91 to $54.00 in a research report on Monday, April 23rd. Vetr downgraded BP from a strong-buy rating to a buy rating and set a $44.43 price objective on the stock. in a research report on Wednesday, March 21st. Finally, Scotiabank restated a buy rating and issued a $47.00 price objective on shares of BP in a research report on Monday, April 9th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. BP currently has a consensus rating of Buy and an average target price of $44.22.
Shares of NYSE:BP opened at $47.79 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.81 and a debt-to-equity ratio of 0.52. BP has a 52-week low of $33.90 and a 52-week high of $47.83. The firm has a market capitalization of $156.81 billion, a PE ratio of 21.54, a P/E/G ratio of 1.07 and a beta of 0.89.
BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, May 1st. The oil and gas exploration company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.11. BP had a return on equity of 7.22% and a net margin of 1.71%. The business had revenue of $68.17 billion for the quarter, compared to the consensus estimate of $69.40 billion. During the same period in the prior year, the business earned $0.08 earnings per share. The business’s revenue was up 22.0% on a year-over-year basis. equities analysts anticipate that BP will post 3.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 22nd. Investors of record on Friday, May 11th will be paid a $0.60 dividend. The ex-dividend date is Thursday, May 10th. This represents a $2.40 annualized dividend and a yield of 5.02%. BP’s payout ratio is currently 126.60%.
Institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Investment Partners LLC increased its stake in BP by 101.6% in the fourth quarter. Cornerstone Investment Partners LLC now owns 59,430 shares of the oil and gas exploration company’s stock valued at $2,498,000 after purchasing an additional 29,950 shares during the last quarter. Delek Group Ltd. acquired a new position in BP in the fourth quarter valued at $26,992,000. First Trust Advisors LP increased its stake in BP by 106.7% during the fourth quarter. First Trust Advisors LP now owns 61,537 shares of the oil and gas exploration company’s stock worth $2,586,000 after acquiring an additional 31,767 shares during the last quarter. Financial Advocates Investment Management acquired a new stake in BP during the fourth quarter worth about $743,000. Finally, BB&T Investment Services Inc. increased its stake in BP by 31.9% during the fourth quarter. BB&T Investment Services Inc. now owns 34,234 shares of the oil and gas exploration company’s stock worth $1,452,000 after acquiring an additional 8,285 shares during the last quarter. Hedge funds and other institutional investors own 10.32% of the company’s stock.
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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