Credit Suisse Group downgraded shares of BP (NYSE:BP) from an outperform rating to a neutral rating in a research report report published on Wednesday morning, Benzinga reports. Credit Suisse Group currently has $41.06 target price on the oil and gas exploration company’s stock.
Separately, Royal Bank of Canada began coverage on shares of Robert Half International in a report on Tuesday, April 16th. They issued a sector perform rating for the company. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $52.54.
BP stock opened at $41.21 on Wednesday. The firm’s 50 day simple moving average is $41.50. BP has a 52-week low of $36.28 and a 52-week high of $47.16. The stock has a market capitalization of $137.77 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.81 and a beta of 0.76. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.61.
BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. BP had a net margin of 3.26% and a return on equity of 12.19%. The company had revenue of $66.32 billion during the quarter, compared to analyst estimates of $64.85 billion. During the same period in the previous year, the business earned $0.13 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Analysts forecast that BP will post 3.22 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Friday, May 10th were issued a $0.615 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.46 dividend on an annualized basis and a yield of 5.97%. BP’s payout ratio is currently 64.21%.
A number of hedge funds and other institutional investors have recently made changes to their positions in BP. Perkins Coie Trust Co raised its holdings in BP by 66.7% in the 1st quarter. Perkins Coie Trust Co now owns 630 shares of the oil and gas exploration company’s stock worth $28,000 after acquiring an additional 252 shares during the last quarter. Ellis Investment Partners LLC purchased a new position in BP in the 1st quarter worth approximately $29,000. Marino Stram & Associates LLC raised its holdings in BP by 71.0% in the 1st quarter. Marino Stram & Associates LLC now owns 667 shares of the oil and gas exploration company’s stock worth $29,000 after acquiring an additional 277 shares during the last quarter. Horan Capital Advisors LLC. purchased a new position in BP in the 1st quarter worth approximately $35,000. Finally, Bray Capital Advisors grew its position in BP by 91.7% in the 1st quarter. Bray Capital Advisors now owns 813 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 389 shares during the period. Institutional investors own 11.02% 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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