BP (NYSE:BP) Stock Rating Lowered by StockNews.com

BP (NYSE:BP) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Other equities analysts also recently issued research reports about the stock. Scotiabank downgraded shares of BP from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $42.00 to $36.00 in a research note on Thursday, October 10th. Wells Fargo & Company dropped their price target on BP from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. Redburn Atlantic lowered BP from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 24th. Piper Sandler dropped their target price on BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group upgraded BP to a “strong-buy” rating in a report on Friday, October 11th. Twelve investment analysts have rated the stock with a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.10.

BP Stock Up 0.4 %

NYSE BP opened at $28.96 on Friday. The business has a fifty day moving average price of $29.49 and a two-hundred day moving average price of $32.32. The stock has a market capitalization of $77.38 billion, a PE ratio of 30.48, a PEG ratio of 2.13 and a beta of 0.64. BP has a fifty-two week low of $27.82 and a fifty-two week 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 data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.05. The business had revenue of $47.25 billion for the quarter, compared to analyst estimates of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. BP’s revenue was down 11.3% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. Equities analysts expect that BP will post 3.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BP

Several large investors have recently added to or reduced their stakes in BP. Strategic Investment Solutions Inc. IL acquired a new position in shares of BP during the second quarter valued at about $75,000. ORG Partners LLC increased its position in BP by 32.5% in 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 buying an additional 621 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in BP in the third quarter worth approximately $91,000. Anchor Investment Management LLC grew its stake in BP by 58.7% in the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after acquiring an additional 1,154 shares during the period. Finally, ST Germain D J Co. Inc. increased its holdings in shares of BP by 9.0% during the third quarter. ST Germain D J Co. Inc. now owns 4,549 shares of the oil and gas exploration company’s stock valued at $143,000 after acquiring an additional 377 shares in the last quarter. Institutional investors and hedge funds 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.