BP (NYSE:BP) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of BP (NYSE:BP) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks reports.

A number of other equities research analysts also recently weighed in on BP. Morgan Stanley reaffirmed an “overweight” rating on shares of BP in a research note on Friday, September 4th. Wells Fargo & Company dropped their price objective on BP from $54.00 to $48.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of BP from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. TD Cowen boosted their target price on shares of BP from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Finally, Mizuho set a $53.00 price target on shares of BP in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, BP has a consensus rating of “Moderate Buy” and a consensus price target of $46.59.

BP Stock Up 1.8%

BP stock opened at $45.68 on Tuesday. BP has a twelve month low of $32.72 and a twelve month high of $48.27. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.27. The firm has a market cap of $119.65 billion, a PE ratio of 22.28, a P/E/G ratio of 0.57 and a beta of 0.15. The firm’s 50 day moving average price is $42.40 and its two-hundred day moving average price is $42.89.

BP (NYSE:BP) last issued its earnings results on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.35. BP had a net margin of 2.49% and a return on equity of 16.63%. The company had revenue of $69.11 billion during the quarter, compared to analyst estimates of $57.89 billion. During the same quarter last year, the business posted $0.90 EPS. The company’s revenue for the quarter was up 106.1% on a year-over-year basis. On average, research analysts predict that BP will post 6.45 EPS for the current fiscal year.

BP Increases Dividend

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

Institutional Trading of BP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in shares of BP by 4.2% in the second quarter. Rhumbline Advisers now owns 39,146 shares of the oil and gas exploration company’s stock worth $1,172,000 after acquiring an additional 1,588 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of BP by 7.4% during the second quarter. Gamco Investors INC. ET AL now owns 8,295 shares of the oil and gas exploration company’s stock valued at $248,000 after buying an additional 568 shares during the last quarter. IHT Wealth Management LLC raised its stake in shares of BP by 3.3% in the second quarter. IHT Wealth Management LLC now owns 12,513 shares of the oil and gas exploration company’s stock valued at $375,000 after purchasing an additional 398 shares in the last quarter. WFA of San Diego LLC acquired a new position in shares of BP in the 2nd quarter valued at $46,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of BP by 7.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 5,738 shares of the oil and gas exploration company’s stock worth $198,000 after acquiring an additional 374 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

Trending Headlines about BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP was added to several Zacks Rank #1 (Strong Buy) lists covering value, growth, momentum and income stocks. The ratings reflect favorable earnings-estimate trends and BP’s relatively attractive valuation, supporting continued investor interest. New Strong Buy Stocks for September 9th
• Positive Sentiment: Analysts highlighted BP as an appealing way to gain exposure to high oil prices without paying a premium valuation. Its recent earnings beat—with quarterly EPS of $2.22 versus the $1.87 consensus—and sharply higher revenue provide additional support for the bullish view. Why BP Is One of the Best Oil Stocks to Buy Right Now
• Positive Sentiment: BP and SOCAR received approval to advance drilling activity in Uzbekistan, adding a potential longer-term exploration and production growth opportunity. BP and Socar get green light for Uzbekistan drilling push
• Neutral Sentiment: Shell agreed to acquire a 30% interest in Conifer, a BP-operated deepwater prospect in the Gulf of Mexico. The transaction may validate BP’s asset and reduce its capital exposure, although comparisons emphasize Shell’s stronger cash flow and could limit BP’s relative appeal. Could Shell’s Superior Cash Flow Make It a Better Bet Than BP?
• Neutral Sentiment: Potential buyers are reportedly evaluating BP’s North Sea operations. A sale could generate cash and simplify the portfolio, but reports remain preliminary and the value and timing of any transaction are uncertain. BP North Sea Operations Garner Interest From Potential Buyers
• Negative Sentiment: A labor lockout at BP’s Whiting refinery is approaching six months, prolonging disruption and increasing the risk of higher costs, lost production or an extended dispute. BP Whiting refinery lockout nears six months

BP Company Profile

BP p.l.c. is a global integrated energy company headquartered in London, England. Its operations span the energy value chain, including exploration and production of oil and natural gas, refining, fuel marketing, energy trading and transportation. BP also produces and markets lubricants through its Castrol brand and supplies fuels through retail networks operating under brands such as BP, Aral and ampm.

The company has operations and business relationships across multiple regions, including the Americas, Europe, the Middle East, Africa and Asia-Pacific.