Goldman Sachs Group upgraded shares of BP (NYSE:BP) from a buy rating to a conviction-buy rating in a research note published on Thursday morning, The Fly reports.

BP has been the subject of a number of other research reports. Zacks Investment Research lowered shares of BP from a buy rating to a hold rating in a research note on Wednesday, July 25th. HSBC raised shares of BP to a buy rating in a research note on Monday, July 30th. Royal Bank of Canada raised shares of BP from an outperform rating to a top pick rating in a research note on Monday, July 9th. Macquarie raised shares of BP from an underperform rating to a neutral rating in a research note on Thursday, April 26th. Finally, ValuEngine lowered shares of BP from a buy rating to a hold rating in a research note on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $45.84.

NYSE BP opened at $42.99 on Thursday. BP has a twelve month low of $33.90 and a twelve month high of $47.83. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.80 and a current ratio of 1.10. The company has a market cap of $144.77 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 3.26 and a beta of 0.90.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, July 31st. The oil and gas exploration company reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. BP had a net margin of 2.55% and a return on equity of 9.28%. The firm had revenue of $75.44 billion for the quarter, compared to analysts’ expectations of $82.25 billion. During the same period in the previous year, the company posted $0.21 EPS. The company’s quarterly revenue was up 33.5% compared to the same quarter last year. equities analysts expect that BP will post 3.33 earnings per share for the current year.

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in shares of BP by 12.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 21,017,112 shares of the oil and gas exploration company’s stock valued at $852,034,000 after purchasing an additional 2,406,870 shares during the last quarter. FMR LLC lifted its stake in shares of BP by 88.5% in the 2nd quarter. FMR LLC now owns 16,103,626 shares of the oil and gas exploration company’s stock valued at $735,292,000 after purchasing an additional 7,562,842 shares during the last quarter. BlackRock Inc. lifted its stake in shares of BP by 27.5% in the 2nd quarter. BlackRock Inc. now owns 5,519,415 shares of the oil and gas exploration company’s stock valued at $252,017,000 after purchasing an additional 1,191,854 shares during the last quarter. Sound Shore Management Inc. CT lifted its stake in shares of BP by 17.6% in the 1st quarter. Sound Shore Management Inc. CT now owns 4,524,404 shares of the oil and gas exploration company’s stock valued at $183,419,000 after purchasing an additional 676,392 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of BP by 10.0% in the 1st quarter. Wells Fargo & Company MN now owns 4,303,158 shares of the oil and gas exploration company’s stock valued at $174,450,000 after purchasing an additional 392,966 shares during the last quarter. 10.20% of the stock is owned by institutional investors.

About BP

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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