BP p.l.c. (NYSE:BP) Receives $46.14 Consensus PT from Brokerages

Shares of BP p.l.c. (NYSE:BP) have been given an average recommendation of “Moderate Buy” by the twenty-four analysts that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $46.1417.

Several equities analysts recently commented on the stock. Scotiabank increased their target price on shares of BP from $41.00 to $58.00 and gave the company a “sector outperform” rating in a report on Wednesday, April 22nd. HSBC raised shares of BP from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $35.10 to $45.30 in a research note on Friday, March 20th. Piper Sandler raised their price objective on BP from $44.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Morgan Stanley upgraded BP from an “equal weight” rating to an “overweight” rating and set a $49.40 price objective on the stock in a report on Tuesday, March 24th. Finally, Zacks Research cut BP from a “strong-buy” rating to a “hold” rating in a report on Monday, May 25th.

BP Stock Performance

NYSE:BP opened at $37.37 on Monday. The business has a 50 day moving average of $42.54 and a 200 day moving average of $40.68. The company has a market capitalization of $97.86 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 0.64 and a beta of 0.17. BP has a 1-year low of $29.99 and a 1-year high of $48.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.22 and a quick ratio of 0.87.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.24. The business had revenue of $52.26 billion for the quarter, compared to analysts’ expectations of $48.50 billion. BP had a net margin of 1.62% and a return on equity of 12.06%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $0.53 earnings per share. On average, sell-side analysts predict that BP will post 5.49 earnings per share for the current fiscal year.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, May 15th were paid a dividend of $0.4992 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Friday, May 15th. BP’s dividend payout ratio is 165.00%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BP. ORG Partners LLC boosted its position in BP by 16.2% during the 4th quarter. ORG Partners LLC now owns 2,038 shares of the oil and gas exploration company’s stock valued at $71,000 after buying an additional 284 shares during the period. First Horizon Corp increased its position in shares of BP by 8.1% in the fourth quarter. First Horizon Corp now owns 3,933 shares of the oil and gas exploration company’s stock valued at $137,000 after acquiring an additional 296 shares during the period. GAMMA Investing LLC raised its stake in shares of BP by 5.2% during the fourth quarter. GAMMA Investing LLC now owns 6,597 shares of the oil and gas exploration company’s stock valued at $229,000 after acquiring an additional 324 shares during the last quarter. Atlas Brown Inc. boosted its holdings in shares of BP by 0.9% during the fourth quarter. Atlas Brown Inc. now owns 36,721 shares of the oil and gas exploration company’s stock worth $1,275,000 after purchasing an additional 330 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of BP by 4.8% in the second quarter. Versant Capital Management Inc now owns 7,953 shares of the oil and gas exploration company’s stock worth $294,000 after purchasing an additional 366 shares during the last quarter. 11.01% of the stock is owned by hedge funds and other institutional investors.

About BP

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.