BP (NYSE:BP) PT Lowered to $42.00

BP (NYSE:BP) had its price objective decreased by equities research analysts at Scotiabank from $47.00 to $42.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the oil and gas exploration company’s stock. Scotiabank’s price objective suggests a potential upside of 19.35% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company lowered their price objective on BP from $42.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday. TD Securities increased their price target on shares of BP from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Piper Sandler raised their price target on BP from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. Erste Group Bank restated a “hold” rating on shares of BP in a research report on Friday, June 14th. Finally, StockNews.com downgraded BP from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.88.

BP Stock Up 0.4 %

BP stock opened at $35.19 on Friday. The company has a market capitalization of $97.48 billion, a price-to-earnings ratio of 11.03, a PEG ratio of 1.86 and a beta of 0.65. BP has a fifty-two week low of $33.52 and a fifty-two week high of $40.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.94 and a current ratio of 1.23. The stock has a fifty day moving average of $36.43 and a 200-day moving average of $36.58.

BP (NYSE:BP) last posted its earnings results on Tuesday, May 7th. The oil and gas exploration company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.06). The company had revenue of $48.88 billion for the quarter, compared to analysts’ expectations of $53.65 billion. BP had a return on equity of 13.49% and a net margin of 4.51%. The company’s revenue was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 EPS. As a group, equities research analysts predict that BP will post 4.7 earnings per share for the current year.

Institutional Trading of BP

Several institutional investors have recently bought and sold shares of the company. PSquared Asset Management AG purchased a new stake in shares of BP during the 4th quarter valued at about $50,315,000. OLD Mission Capital LLC raised its stake in BP by 145.5% during the 4th quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock worth $23,233,000 after acquiring an additional 388,931 shares during the period. Wedge Capital Management L L P NC lifted its holdings in BP by 15.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 500,704 shares of the oil and gas exploration company’s stock valued at $17,725,000 after purchasing an additional 65,425 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in BP by 13.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 487,648 shares of the oil and gas exploration company’s stock worth $17,263,000 after buying an additional 59,379 shares during the period. Finally, Bollard Group LLC grew its position in shares of BP by 1.2% during the fourth quarter. Bollard Group LLC now owns 298,767 shares of the oil and gas exploration company’s stock worth $10,576,000 after purchasing an additional 3,524 shares in the last quarter. 11.01% of the stock is owned by hedge funds and other institutional investors.

BP Company Profile

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.