BP (NYSE:BP) Earns Hold Rating from TD Securities

BP (NYSE:BP)‘s stock had its “hold” rating reiterated by equities research analysts at TD Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $36.00 target price on the oil and gas exploration company’s stock, down from their previous target price of $40.00. TD Securities’ target price would indicate a potential upside of 3.55% from the stock’s current price.

Several other brokerages have also commented on BP. Piper Sandler dropped their price target 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. JPMorgan Chase & Co. upgraded shares of BP from an “underweight” rating to a “neutral” rating in a research note on Thursday, February 20th. DZ Bank lowered shares of BP from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Wells Fargo & Company increased their price objective on shares of BP from $30.00 to $37.00 and gave the company an “equal weight” rating in a report on Wednesday, February 12th. Finally, TD Cowen cut shares of BP from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a report on Wednesday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, two 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 currently has an average rating of “Hold” and an average target price of $37.48.

BP Price Performance

BP opened at $34.77 on Wednesday. The firm has a market cap of $93.07 billion, a price-to-earnings ratio of 434.62, a price-to-earnings-growth ratio of 1.12 and a beta of 0.58. BP has a fifty-two week low of $27.82 and a fifty-two week high of $40.40. The company’s 50-day moving average price is $32.63 and its 200 day moving average price is $31.27. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.70.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. As a group, sell-side analysts expect that BP will post 3.53 earnings per share for the current year.

Institutional Trading of BP

A number of large investors have recently added to or reduced their stakes in BP. Asset Planning Inc bought a new stake in BP during the fourth quarter worth approximately $40,000. Bank & Trust Co boosted its stake in BP by 404.8% in the 4th quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock worth $63,000 after purchasing an additional 1,700 shares during the period. Versant Capital Management Inc boosted its stake in BP by 41.0% in 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 during the period. Anchor Investment Management LLC boosted its stake in BP by 58.7% in the 3rd quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock worth $98,000 after purchasing an additional 1,154 shares during the period. Finally, Wellington Shields Capital Management LLC boosted its stake in BP by 26.9% in the 4th quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company’s stock worth $223,000 after purchasing an additional 1,600 shares during the period. 11.01% of the stock is currently owned by 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.