BP (NYSE:BP) Rating Lowered to Hold at StockNews.com

BP (NYSE:BP) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

BP has been the topic of several other reports. Scotiabank cut shares of BP from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $42.00 to $36.00 in a research report on Thursday, October 10th. Raymond James raised their price objective on shares of BP from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. The Goldman Sachs Group upgraded shares of BP to a “strong-buy” rating in a research report on Friday, October 11th. Morgan Stanley dropped their price target on BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Piper Sandler reduced their price objective on BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Twelve equities research analysts have rated the stock with a hold rating, four have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, BP presently has an average rating of “Moderate Buy” and a consensus target price of $38.76.

BP Stock Down 0.2 %

Shares of NYSE BP opened at $31.11 on Tuesday. The business has a 50-day simple moving average of $30.00 and a two-hundred day simple moving average of $31.55. BP has a 52 week low of $27.82 and a 52 week high of $40.40. The company has a market cap of $83.97 billion, a P/E ratio of 32.75, a P/E/G ratio of 2.21 and a beta of 0.64. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. The company had revenue of $47.25 billion for the quarter, compared to the consensus estimate of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The firm’s revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 earnings per share. Research analysts anticipate that BP will post 3.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BP

A number of institutional investors have recently bought and sold shares of BP. Quantbot Technologies LP bought a new stake in BP during the third quarter worth about $5,089,000. SG Americas Securities LLC lifted its holdings in shares of BP by 860.7% during the third quarter. SG Americas Securities LLC now owns 66,464 shares of the oil and gas exploration company’s stock valued at $2,086,000 after purchasing an additional 59,546 shares during the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of BP in the 3rd quarter worth approximately $857,000. Avior Wealth Management LLC increased its position in BP by 83.3% during the 4th quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company’s stock valued at $1,577,000 after buying an additional 24,252 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its stake in BP by 5.4% during the third quarter. Kornitzer Capital Management Inc. KS now owns 454,980 shares of the oil and gas exploration company’s stock valued at $14,282,000 after buying an additional 23,325 shares during the last quarter. 11.01% of the stock is 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.