BP’s (BP) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their sector perform rating on shares of BP (NYSE:BP) in a research report released on Tuesday morning,Benzinga reports.

BP has been the subject of several other research reports. StockNews.com raised BP from a “hold” rating to a “buy” rating in a research report on Friday, January 10th. Wells Fargo & Company lowered their target price on BP from $33.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Piper Sandler reduced their price target on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group raised shares of BP to a “strong-buy” rating in a research report on Friday, October 11th. Finally, BNP Paribas lowered shares of BP from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 9th. Eleven analysts have rated the stock with a hold rating, five have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.76.

BP Trading Up 1.5 %

NYSE:BP opened at $31.79 on Tuesday. The stock has a fifty day simple moving average of $29.56 and a 200 day simple moving average of $31.87. The firm has a market capitalization of $84.93 billion, a price-to-earnings ratio of 33.46, a price-to-earnings-growth ratio of 2.20 and a beta of 0.64. BP has a 1-year low of $27.82 and a 1-year high of $40.40. 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 released its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.05. The business had revenue of $47.25 billion for the quarter, compared to the consensus estimate of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period last year, the firm posted $1.15 earnings per share. Sell-side analysts forecast that BP will post 3.45 earnings per share for the current year.

BP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 8th were paid a $0.48 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.04%. BP’s payout ratio is presently 200.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BP. Butensky & Cohen Financial Security Inc. increased its position in BP by 0.3% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 129,215 shares of the oil and gas exploration company’s stock worth $3,820,000 after acquiring an additional 358 shares during the period. ST Germain D J Co. Inc. increased its holdings in shares of BP by 9.0% during the 3rd quarter. ST Germain D J Co. Inc. now owns 4,549 shares of the oil and gas exploration company’s stock worth $143,000 after purchasing an additional 377 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of BP by 3.8% in the third quarter. Sunbelt Securities Inc. now owns 11,459 shares of the oil and gas exploration company’s stock valued at $360,000 after buying an additional 415 shares during the period. Atlas Brown Inc. grew its position in BP by 1.2% during the fourth quarter. Atlas Brown Inc. now owns 37,338 shares of the oil and gas exploration company’s stock worth $1,104,000 after buying an additional 437 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in BP by 3.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 15,087 shares of the oil and gas exploration company’s stock valued at $534,000 after acquiring an additional 498 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.

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.