Brokerages Set BP p.l.c. (NYSE:BP) PT at $46.36

Shares of BP p.l.c. (NYSE:BP) have been given an average rating of “Hold” by the twenty-three analysts that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $46.3615.

A number of analysts have recently issued reports on BP shares. Zacks Research lowered BP from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Piper Sandler raised their price objective on BP from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, August 7th. TD Cowen lifted their target price on shares of BP from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Freedom Capital raised shares of BP from a “strong sell” rating to a “hold” rating in a report on Thursday, August 6th. Finally, Mizuho set a $53.00 target price on shares of BP in a research report on Wednesday, August 5th.

Institutional Investors Weigh In On BP

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BP. Shah Wealth Advisors LLC acquired a new stake in shares of BP during the second quarter valued at about $289,000. denkapparat Operations GmbH acquired a new position in shares of BP in the 2nd quarter worth approximately $1,351,000. TD Waterhouse Canada Inc. boosted its position in shares of BP by 76.2% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 15,689 shares of the oil and gas exploration company’s stock worth $567,000 after purchasing an additional 6,783 shares during the period. Continuum Advisory LLC acquired a new stake in BP in the 2nd quarter valued at approximately $109,000. Finally, Gill Capital Partners LLC raised its position in BP by 53.2% in the second quarter. Gill Capital Partners LLC now owns 1,376 shares of the oil and gas exploration company’s stock valued at $51,000 after purchasing an additional 478 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Stock Down 0.8%

BP stock opened at $44.76 on Tuesday. The stock has a market capitalization of $117.24 billion, a P/E ratio of 21.83, a P/E/G ratio of 0.61 and a beta of 0.16. BP has a 52 week low of $32.72 and a 52 week high of $48.27. The firm has a 50-day simple moving average of $41.13 and a 200-day simple moving average of $42.37. The company has a quick ratio of 0.95, a current ratio of 1.27 and a debt-to-equity ratio of 0.69.

BP (NYSE:BP) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas exploration company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.87 by $0.35. BP had a return on equity of 16.63% and a net margin of 2.49%.The company had revenue of $69.11 billion during the quarter, compared to analyst estimates of $57.89 billion. During the same period in the previous year, the business earned $0.90 EPS. BP’s quarterly revenue was up 106.1% on a year-over-year basis. Equities analysts forecast that BP will post 6.04 earnings per share for the current fiscal year.

BP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 14th will be given a dividend of $0.5196 per share. The ex-dividend date is Friday, August 14th. This is an increase from BP’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 4.6%. BP’s dividend payout ratio (DPR) is 100.49%.

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.