BP (NYSE:BP) Price Target Raised to $37.00

BP (NYSE:BP) had its price objective raised by Wells Fargo & Company from $30.00 to $37.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the oil and gas exploration company’s stock.

BP has been the topic of a number of other reports. Raymond James boosted their target price on BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Royal Bank of Canada reissued a “sector perform” rating on shares of BP in a research report on Tuesday, January 14th. Piper Sandler dropped their price target on BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. StockNews.com lowered BP from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, DZ Bank lowered BP from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.64.

BP Trading Up 1.5 %

Shares of BP stock opened at $35.01 on Wednesday. The business has a fifty day simple moving average of $30.79 and a 200-day simple moving average of $31.38. The firm has a market cap of $93.72 billion, a price-to-earnings ratio of 36.85, a price-to-earnings-growth ratio of 2.26 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 has a fifty-two week low of $27.82 and a fifty-two week high of $40.40.

BP (NYSE:BP) last announced its earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.12). BP had a return on equity of 12.91% and a net margin of 1.36%. On average, equities analysts forecast that BP will post 3.35 EPS for the current fiscal year.

BP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.92 annualized dividend and a dividend yield of 5.48%. BP’s dividend payout ratio (DPR) is presently 200.00%.

Institutional Trading of BP

Large investors have recently made changes to their positions in the stock. Asset Planning Inc bought a new stake in BP during the 4th quarter valued at approximately $40,000. Bank & Trust Co boosted its stake in BP by 404.8% during the 4th 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 boosted its stake 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 valued at $66,000 after purchasing an additional 646 shares during the period. ORG Partners LLC boosted its stake in BP by 32.5% during the 3rd quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock valued at $80,000 after purchasing an additional 621 shares during the period. Finally, Anchor Investment Management LLC boosted its stake in BP by 58.7% during the 3rd quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after purchasing an additional 1,154 shares during the period. 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.