BP p.l.c. (NYSE:BP) Receives $43.72 Consensus Price Target from Analysts

BP p.l.c. (NYSE:BP) has received a consensus recommendation of “Hold” from the eleven ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $43.72.

Several research firms have issued reports on BP. TD Securities upped their price objective on BP from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Piper Sandler upped their target price on shares of BP from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Wells Fargo & Company upped their target price on shares of BP from $38.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Erste Group Bank upgraded shares of BP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Jefferies Financial Group upgraded shares of BP from a “hold” rating to a “buy” rating and upped their target price for the company from $38.60 to $42.30 in a research report on Monday, March 4th.

Hedge Funds Weigh In On BP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BP. Arkadios Wealth Advisors boosted its stake in BP by 343.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 42,780 shares of the oil and gas exploration company’s stock worth $1,656,000 after purchasing an additional 33,123 shares during the period. Summit Global Investments acquired a new position in BP in the 3rd quarter worth $504,000. Reitz Capital Advisors LLC boosted its stake in BP by 3.0% in the 3rd quarter. Reitz Capital Advisors LLC now owns 14,645 shares of the oil and gas exploration company’s stock worth $586,000 after purchasing an additional 420 shares during the period. Atlas Brown Inc. boosted its stake in BP by 0.6% in the 3rd quarter. Atlas Brown Inc. now owns 44,396 shares of the oil and gas exploration company’s stock worth $1,719,000 after purchasing an additional 286 shares during the period. Finally, Oak Family Advisors LLC boosted its stake in shares of BP by 45.1% during the 3rd quarter. Oak Family Advisors LLC now owns 81,534 shares of the oil and gas exploration company’s stock worth $3,157,000 after buying an additional 25,325 shares during the last quarter. 11.01% of the stock is owned by institutional investors and hedge funds.

BP Stock Up 0.1 %

NYSE:BP opened at $39.33 on Friday. The stock’s fifty day moving average price is $37.36 and its two-hundred day moving average price is $36.52. BP has a 52-week low of $33.52 and a 52-week high of $40.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.94 and a current ratio of 1.21. The company has a market cap of $110.76 billion, a price-to-earnings ratio of 7.73, a P/E/G ratio of 1.97 and a beta of 0.68.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, February 6th. The oil and gas exploration company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.11. BP had a return on equity of 16.00% and a net margin of 7.15%. The firm had revenue of $52.14 billion for the quarter, compared to the consensus estimate of $53.14 billion. During the same quarter in the prior year, the business earned $1.59 EPS. The business’s revenue for the quarter was down 24.7% compared to the same quarter last year. On average, analysts anticipate that BP will post 4.94 EPS for the current year.

BP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, February 16th were given a $0.4362 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Thursday, February 15th. BP’s dividend payout ratio is currently 33.79%.

About BP

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.