BNP Paribas reissued their outperform rating on shares of BP PLC (NYSE:BP) in a report released on Tuesday, StockTargetPrices.com reports.
A number of other brokerages have also recently commented on BP. Barclays PLC reaffirmed a buy rating on shares of BP PLC in a research note on Thursday, October 6th. Credit Suisse Group AG raised BP PLC from an underperform rating to a neutral rating in a research note on Tuesday, July 5th. Citigroup Inc. raised BP PLC from a neutral rating to a buy rating and boosted their target price for the company from $31.15 to $39.00 in a research note on Thursday, June 16th. Vetr cut BP PLC from a strong-buy rating to a buy rating and set a $37.66 target price for the company. in a research note on Friday, August 12th. Finally, Jefferies Group reissued a hold rating on shares of BP PLC in a research note on Thursday, September 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $38.63.
Shares of BP PLC (NYSE:BP) traded down 0.36% on Tuesday, hitting $35.65. The company had a trading volume of 2,108,369 shares. The firm has a 50 day moving average of $34.48 and a 200-day moving average of $33.31. BP PLC has a 12-month low of $27.01 and a 12-month high of $37.53. The firm’s market capitalization is $111.57 billion.
BP PLC (NYSE:BP) last announced its quarterly earnings data on Tuesday, July 26th. The oil and gas exploration company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by $0.05. BP PLC had a positive return on equity of 3.32% and a negative net margin of 2.76%. The company had revenue of $46.44 billion for the quarter, compared to analyst estimates of $50.22 billion. During the same period last year, the firm earned $0.07 earnings per share. The firm’s revenue for the quarter was down 25.7% on a year-over-year basis. On average, equities analysts predict that BP PLC will post $1.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, August 5th were paid a $0.595 dividend. The ex-dividend date was Wednesday, August 3rd. This represents a $2.38 annualized dividend and a yield of 6.65%. BP PLC’s dividend payout ratio is -139.18%.
A number of hedge funds have recently added to or reduced their stakes in BP. Barrow Hanley Mewhinney & Strauss LLC raised its stake in BP PLC by 7.0% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 39,936,560 shares of the oil and gas exploration company’s stock valued at $1,418,148,000 after buying an additional 2,624,676 shares in the last quarter. Franklin Resources Inc. raised its stake in BP PLC by 19.4% in the second quarter. Franklin Resources Inc. now owns 35,849,141 shares of the oil and gas exploration company’s stock valued at $1,273,003,000 after buying an additional 5,815,906 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in BP PLC by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 23,510,913 shares of the oil and gas exploration company’s stock valued at $834,873,000 after buying an additional 164,624 shares in the last quarter. Wellington Management Group LLP raised its stake in BP PLC by 0.3% in the first quarter. Wellington Management Group LLP now owns 7,819,554 shares of the oil and gas exploration company’s stock valued at $235,994,000 after buying an additional 22,315 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in BP PLC by 84.7% in the second quarter. Acadian Asset Management LLC now owns 7,425,394 shares of the oil and gas exploration company’s stock valued at $263,671,000 after buying an additional 3,405,646 shares in the last quarter. Hedge funds and other institutional investors own 12.06% of the company’s stock.
About BP PLC
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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