BP (NYSE:BP) Downgraded to “Sell” Rating by DZ Bank

BP (NYSE:BP) was downgraded by research analysts at DZ Bank from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports.

A number of other research analysts have also weighed in on BP. Royal Bank of Canada reissued a “sector perform” rating on shares of BP in a research note on Tuesday, January 14th. Wells Fargo & Company dropped their target price on BP from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. StockNews.com cut shares of BP from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Morgan Stanley dropped their price target on shares of 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 decreased their price objective on BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, BP currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.76.

BP Stock Performance

NYSE:BP traded up $0.07 during trading hours on Tuesday, reaching $34.49. The company had a trading volume of 5,266,329 shares, compared to its average volume of 11,749,688. The firm has a market cap of $92.32 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 2.26 and a beta of 0.64. BP has a 1-year low of $27.82 and a 1-year high of $40.40. The business’s 50 day moving average price is $30.47 and its 200-day moving average price is $31.34. 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 announced 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 1.36% and a return on equity of 12.91%. Research analysts forecast that BP will post 3.35 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Horizon Investments LLC raised its holdings in BP by 3.3% during the fourth quarter. Horizon Investments LLC now owns 19,753 shares of the oil and gas exploration company’s stock worth $584,000 after purchasing an additional 640 shares during the last quarter. Cozad Asset Management Inc. grew its stake in BP by 92.6% in the 4th quarter. Cozad Asset Management Inc. now owns 43,818 shares of the oil and gas exploration company’s stock valued at $1,295,000 after acquiring an additional 21,064 shares during the last quarter. Creative Financial Designs Inc. ADV increased its holdings in BP by 427.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 13,167 shares of the oil and gas exploration company’s stock valued at $389,000 after acquiring an additional 10,671 shares in the last quarter. Wellington Shields Capital Management LLC lifted its holdings 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 purchasing an additional 1,600 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in shares of BP by 97.3% during the 4th quarter. Farther Finance Advisors LLC now owns 10,851 shares of the oil and gas exploration company’s stock worth $321,000 after purchasing an additional 5,351 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.