Analysts Set BP p.l.c. (NYSE:BP) PT at $46.59

BP p.l.c. (NYSE:BP) has been given an average recommendation of “Moderate Buy” by the twenty-five ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $46.5923.

Several equities analysts recently commented on BP shares. Zacks Research downgraded BP from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. TD Cowen upped their price target on shares of BP from $40.00 to $41.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Wells Fargo & Company lifted their price objective on shares of BP from $39.00 to $54.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Piper Sandler started coverage on BP in a report on Thursday. They set a “neutral” rating and a $42.00 target price for the company. Finally, Argus upgraded shares of BP from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Monday, May 11th.

BP Price Performance

Shares of NYSE:BP opened at $43.85 on Friday. The stock’s fifty day simple moving average is $41.28 and its two-hundred day simple moving average is $41.37. The stock has a market cap of $114.84 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 0.74 and a beta of 0.17. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. BP has a 1-year low of $31.58 and a 1-year high of $48.27.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.24. BP had a net margin of 1.62% and a return on equity of 12.06%. The business had revenue of $52.26 billion for the quarter, compared to analysts’ expectations of $48.50 billion. During the same period in the previous year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts forecast that BP will post 5.69 EPS for the current fiscal year.

BP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, May 15th were paid a $0.4992 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Friday, May 15th. BP’s dividend payout ratio is currently 165.00%.

Key Stories Impacting BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP is reportedly in advanced talks to sell its Lightsource solar business to a Kuwait-backed group, which could raise cash and sharpen the company’s focus on higher-return core energy assets. BP nears deal to sell solar business to Kuwait-backed consortium, FT reports
• Positive Sentiment: The sale would likely reduce BP’s exposure to a less strategic renewables segment and could support investor confidence in management’s capital-allocation discipline. BP ‘finds buyer’ for its last renewable power business
• Neutral Sentiment: Brokerage coverage remains constructive, with BP listed at a consensus “Moderate Buy,” which may help support the stock but is not a new operational catalyst. BP p.l.c. (NYSE:BP) Given Consensus Rating of “Moderate Buy” by Brokerages
• Neutral Sentiment: Several market-commentary pieces noted BP’s recent momentum and investor attention, but these are largely sentiment-driven and do not change the company’s fundamentals on their own. Here’s Why BP (BP) is a Strong Momentum Stock

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Life Planners purchased a new position in BP in the first quarter worth $39,000. YANKCOM Partnership raised its holdings in shares of BP by 1,068.3% during the 4th quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company’s stock valued at $33,000 after buying an additional 876 shares in the last quarter. Triumph Capital Management bought a new stake in BP in the 3rd quarter worth approximately $43,000. LRI Investments LLC boosted its stake in BP by 76.2% in the fourth quarter. LRI Investments LLC now owns 1,276 shares of the oil and gas exploration company’s stock worth $44,000 after buying an additional 552 shares in the last quarter. Finally, WFA of San Diego LLC bought a new position in BP during the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 11.01% of the company’s stock.

About BP

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.