BP (NYSE:BP) PT Lowered to $41.00

BP (NYSE:BP) had its price objective cut by Wells Fargo & Company from $42.00 to $41.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas exploration company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 16.51% from the company’s current price.

Several other research firms also recently issued reports on BP. Scotiabank upped their target price on BP from $45.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. TD Securities raised their price objective on BP from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Piper Sandler upped their target price on BP from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Raymond James raised their price target on shares of BP from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Finally, StockNews.com lowered shares of BP from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, BP presently has an average rating of “Moderate Buy” and an average target price of $42.88.

BP Trading Up 0.4 %

Shares of NYSE:BP opened at $35.19 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.23 and a quick ratio of 0.94. The firm has a market capitalization of $97.48 billion, a P/E ratio of 11.03, a P/E/G ratio of 1.86 and a beta of 0.65. The business’s 50-day moving average is $36.43 and its 200 day moving average is $36.58. BP has a 1 year low of $33.52 and a 1 year high of $40.84.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, May 7th. The oil and gas exploration company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.03 by ($0.06). The company had revenue of $48.88 billion during the quarter, compared to analysts’ expectations of $53.65 billion. BP had a net margin of 4.51% and a return on equity of 13.49%. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 earnings per share. On average, research analysts predict that BP will post 4.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BP. PSquared Asset Management AG purchased a new position in shares of BP in the 4th quarter valued at about $50,315,000. OLD Mission Capital LLC increased its position in shares of BP by 145.5% in the fourth quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock valued at $23,233,000 after buying an additional 388,931 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of BP by 15.0% during the 4th 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 buying an additional 65,425 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake 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 valued at $17,263,000 after acquiring an additional 59,379 shares during the period. Finally, Bollard Group LLC increased its holdings in BP by 1.2% in the 4th quarter. Bollard Group LLC now owns 298,767 shares of the oil and gas exploration company’s stock worth $10,576,000 after acquiring an additional 3,524 shares in the last quarter. Hedge funds and other institutional investors own 11.01% of the company’s stock.

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.