BP (NYSE:BP) Stock Rating Lowered by TD Cowen

BP (NYSE:BP) was downgraded by investment analysts at TD Cowen from a “buy” rating to a “hold” rating in a report issued on Wednesday, Marketbeat Ratings reports. They presently have a $40.00 price objective on the oil and gas exploration company’s stock. TD Cowen’s price objective suggests a potential upside of 15.06% from the stock’s previous close.

A number of other analysts have also commented on BP. Wells Fargo & Company boosted their price objective on shares of BP from $30.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. Royal Bank of Canada reissued a “sector perform” rating on shares of BP in a research report on Tuesday, January 14th. Wolfe Research set a $50.00 price objective on shares of BP in a research report on Tuesday, January 14th. Morgan Stanley cut their price objective on shares of BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com lowered shares of BP from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $37.48.

BP Stock Up 0.4 %

BP stock opened at $34.77 on Wednesday. The stock has a market capitalization of $93.07 billion, a PE ratio of 434.62, a price-to-earnings-growth ratio of 1.12 and a beta of 0.58. BP has a twelve month low of $27.82 and a twelve month high of $40.40. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.70. The company has a 50 day moving average of $32.63 and a 200-day moving average of $31.27.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share 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%. On average, equities research analysts anticipate that BP will post 3.53 EPS for the current fiscal year.

Hedge Funds Weigh In On BP

Large investors have recently modified their holdings of the stock. Asset Planning Inc bought a new position in shares of BP in the fourth quarter valued at about $40,000. Bank & Trust Co raised its position in shares of BP by 404.8% in the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock valued at $63,000 after purchasing an additional 1,700 shares during the period. Versant Capital Management Inc raised its position in shares of BP by 41.0% in the fourth quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock valued at $66,000 after purchasing an additional 646 shares during the period. Anchor Investment Management LLC grew its stake in shares of 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 in the last quarter. Finally, Wellington Shields Capital Management LLC grew its stake in shares of BP by 26.9% in the fourth quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company’s stock valued at $223,000 after acquiring an additional 1,600 shares in the last quarter. 11.01% of the stock is owned by institutional investors.

About BP

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.