BP (NYSE:BP) Stock Rating Upgraded by StockNews.com

BP (NYSE:BP) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

BP has been the subject of a number of other research reports. Redburn Atlantic lowered shares of BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. HSBC downgraded shares of BP from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. BNP Paribas downgraded BP from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 9th. Evercore ISI upgraded BP to a “strong-buy” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company cut their price target on BP from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.98.

BP Stock Up 0.7 %

Shares of NYSE BP opened at $31.52 on Friday. The company has a market cap of $87.31 billion, a P/E ratio of 9.88, a PEG ratio of 4.25 and a beta of 0.64. The firm has a 50-day simple moving average of $32.40 and a two-hundred day simple moving average of $34.99. BP has a 1 year low of $30.52 and a 1 year high of $40.40. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.24 and a quick ratio of 0.95.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.08. BP had a return on equity of 13.83% and a net margin of 3.60%. The company had revenue of $47.30 billion during the quarter, compared to analysts’ expectations of $55.82 billion. During the same quarter in the previous year, the business earned $0.89 EPS. BP’s revenue was down 2.6% compared to the same quarter last year. Research analysts anticipate that BP will post 3.76 earnings per share for the current year.

Institutional Trading of BP

Several hedge funds and other institutional investors have recently made changes to their positions in BP. LRI Investments LLC purchased a new position in shares of BP in the 1st quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of BP during the second quarter worth $33,000. Quent Capital LLC purchased a new stake in shares of BP during the second quarter valued at $38,000. Independence Bank of Kentucky raised its stake in BP by 85.7% in the 2nd quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company’s stock worth $47,000 after acquiring an additional 600 shares during the last quarter. Finally, Indiana Trust & Investment Management CO lifted its position in BP by 29.1% during the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,034 shares of the oil and gas exploration company’s stock worth $73,000 after acquiring an additional 459 shares during the period. Hedge funds and other 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.