BP (NYSE:BP) Rating Increased to Buy at StockNews.com

BP (NYSE:BP) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley decreased their price objective on shares of BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a report on Tuesday. The Goldman Sachs Group raised shares of BP to a “strong-buy” rating in a research note on Friday, October 11th. Wells Fargo & Company reduced their price target on BP from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Piper Sandler lowered their price objective on shares of BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, Redburn Atlantic downgraded BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. Eleven research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, BP has an average rating of “Moderate Buy” and an average price target of $39.89.

BP Stock Performance

Shares of NYSE BP traded up $0.20 during trading hours on Friday, reaching $31.32. The stock had a trading volume of 11,303,366 shares, compared to its average volume of 10,446,853. The business’s fifty day moving average is $29.49 and its two-hundred day moving average is $32.00. The company has a market cap of $83.68 billion, a price-to-earnings ratio of 32.97, a PEG ratio of 2.13 and a beta of 0.64. BP has a twelve month low of $27.82 and a twelve month high of $40.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 0.94.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. BP had a return on equity of 12.91% and a net margin of 1.36%. The firm had revenue of $47.25 billion during the quarter, compared to analysts’ expectations of $52.05 billion. During the same period last year, the firm posted $1.15 EPS. The business’s revenue was down 11.3% on a year-over-year basis. As a group, research analysts expect that BP will post 3.55 EPS for the current year.

Institutional Trading of BP

Several hedge funds have recently added to or reduced their stakes in BP. Bank & Trust Co boosted its holdings in BP by 404.8% in the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock valued at $63,000 after acquiring an additional 1,700 shares in the last quarter. Versant Capital Management Inc increased its position in shares of BP by 41.0% during the fourth quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock valued at $66,000 after acquiring an additional 646 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of BP during the second quarter valued at $75,000. ORG Partners LLC boosted its holdings in shares of BP by 32.5% during the 3rd quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock valued at $80,000 after acquiring an additional 621 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in BP during the 3rd quarter valued at $91,000. 11.01% of the stock is owned by institutional investors.

About BP

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.