Brokerages Set BP p.l.c. (NYSE:BP) PT at $42.66

Shares of BP p.l.c. (NYSE:BPGet Free Report) have been given a consensus rating of “Hold” by the nine research firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $42.66.

Several equities research analysts recently weighed in on BP shares. TD Securities upped their price objective on shares of BP from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Piper Sandler boosted their price target on shares of BP from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Scotiabank boosted their price target on shares of BP from $41.00 to $45.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, February 7th. Finally, Jefferies Financial Group upgraded shares of BP from a “hold” rating to a “buy” rating and boosted their price target for the stock from $38.60 to $42.30 in a research report on Monday, March 4th.

Read Our Latest Report on BP

BP Stock Performance

BP stock opened at $37.94 on Tuesday. The company has a market capitalization of $107.42 billion, a P/E ratio of 7.45, a PEG ratio of 1.90 and a beta of 0.68. The company has a 50-day simple moving average of $36.13 and a 200 day simple moving average of $36.44. BP has a fifty-two week low of $33.52 and a fifty-two week high of $40.84. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.57.

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 for the quarter, topping the consensus estimate of $0.96 by $0.11. The business had revenue of $52.14 billion during the quarter, compared to the consensus estimate of $53.14 billion. BP had a net margin of 7.15% and a return on equity of 16.00%. The company’s quarterly revenue was down 24.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.59 earnings per share. Sell-side analysts predict that BP will post 4.96 earnings per share for the current fiscal year.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, February 16th were issued a dividend of $0.4362 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.74 annualized dividend and a yield of 4.60%. BP’s payout ratio is presently 33.79%.

Institutional Trading of BP

Institutional investors and hedge funds have recently bought and sold shares of the stock. Intrepid Capital Management Inc. acquired a new position in shares of BP in the 2nd quarter valued at about $28,000. Turim 21 Investimentos Ltda. acquired a new position in shares of BP in the 1st quarter valued at about $30,000. First United Bank & Trust acquired a new position in shares of BP in the 4th quarter valued at about $33,000. Indiana Trust & Investment Management CO acquired a new position in shares of BP in the 3rd quarter valued at about $35,000. Finally, Versant Capital Management Inc acquired a new position in shares of BP in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 11.01% of the company’s stock.

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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Analyst Recommendations for BP (NYSE:BP)

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