BP (NYSE:BP) Price Target Cut to $31.80 by Analysts at Morgan Stanley

BP (NYSE:BP) had its price objective reduced by investment analysts at Morgan Stanley from $34.70 to $31.80 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the oil and gas exploration company’s stock. Morgan Stanley’s price objective suggests a potential upside of 2.15% from the stock’s current price.

A number of other brokerages have also recently issued reports on BP. BNP Paribas cut BP from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on shares of BP from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Piper Sandler lowered their target price on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Redburn Atlantic lowered shares of BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. Finally, The Goldman Sachs Group raised BP to a “strong-buy” rating in a research note on Friday, October 11th. Twelve analysts have rated the stock with a hold rating, four have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, BP presently has an average rating of “Moderate Buy” and a consensus target price of $39.89.

BP Stock Down 2.2 %

Shares of NYSE BP opened at $31.13 on Tuesday. BP has a 1 year low of $27.82 and a 1 year high of $40.40. The firm’s 50-day moving average is $29.41 and its 200-day moving average is $32.04. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $83.18 billion, a PE ratio of 32.77, a price-to-earnings-growth ratio of 2.13 and a beta of 0.64.

BP (NYSE:BP) last released its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. The firm had revenue of $47.25 billion during the quarter, compared to analyst estimates of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 EPS. Equities analysts expect that BP will post 3.55 EPS for the current year.

Institutional Investors Weigh In On BP

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank & Trust Co raised its stake in BP by 404.8% during the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock worth $63,000 after acquiring an additional 1,700 shares in the last quarter. Versant Capital Management Inc increased its position in BP by 41.0% during the 4th quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock worth $66,000 after purchasing an additional 646 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in BP in the second quarter valued at approximately $75,000. ORG Partners LLC grew its stake in shares of BP by 32.5% during the third quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock worth $80,000 after buying an additional 621 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of BP during the third quarter worth $91,000. 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.