BP (NYSE:BP) Price Target Increased to $43.00 by Analysts at TD Securities

BP (NYSE:BPFree Report) had its price target boosted by TD Securities from $41.00 to $43.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

A number of other research firms also recently weighed in on BP. Raymond James cut their target price on BP from $46.00 to $43.00 and set an outperform rating for the company in a research report on Wednesday, November 1st. Piper Sandler dropped their target price on shares of BP from $45.00 to $38.00 and set a neutral rating for the company in a research report on Monday, January 8th. Finally, JPMorgan Chase & Co. cut shares of BP from a neutral rating to an underweight rating in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, BP presently has a consensus rating of Hold and a consensus price target of $42.25.

View Our Latest Research Report on BP

BP Stock Performance

Shares of NYSE BP opened at $36.36 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.91. The firm has a market cap of $104.15 billion, a price-to-earnings ratio of 7.14, a P/E/G ratio of 1.82 and a beta of 0.69. The stock’s fifty day moving average price is $35.18 and its two-hundred day moving average price is $36.59. BP has a one year low of $33.52 and a one year high of $41.38.

BP (NYSE:BPGet Free Report) 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, beating analysts’ consensus estimates of $0.96 by $0.11. BP had a net margin of 7.15% and a return on equity of 16.00%. The firm had revenue of $52.14 billion during the quarter, compared to the consensus estimate of $53.14 billion. During the same quarter in the previous year, the firm posted $1.59 EPS. The business’s revenue for the quarter was down 24.7% compared to the same quarter last year. On average, equities analysts forecast that BP will post 4.98 EPS for the current year.

BP Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, February 16th will be paid a $0.4362 dividend. This represents a $1.74 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend is Thursday, February 15th. BP’s payout ratio is 33.79%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. TIAA Trust National Association acquired a new position in BP in the 3rd quarter worth about $1,122,000. Lazard Asset Management LLC grew its holdings in BP by 44.7% during the 2nd quarter. Lazard Asset Management LLC now owns 6,943,100 shares of the oil and gas exploration company’s stock worth $245,020,000 after acquiring an additional 2,144,574 shares during the last quarter. Farther Finance Advisors LLC increased its position in BP by 71.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,868 shares of the oil and gas exploration company’s stock valued at $66,000 after acquiring an additional 781 shares during the period. Miller Wealth Advisors LLC lifted its holdings in shares of BP by 2,828.0% during the second quarter. Miller Wealth Advisors LLC now owns 732 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 707 shares during the period. Finally, Bollard Group LLC increased its holdings in BP by 1.2% in the second quarter. Bollard Group LLC now owns 292,066 shares of the oil and gas exploration company’s stock valued at $10,307,000 after purchasing an additional 3,559 shares during the period. 11.01% of the stock is currently owned by institutional investors and hedge funds.

About BP

(Get Free Report)

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.

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