BP (NYSE:BP) Stock Rating Upgraded by Zacks Research

BP (NYSE:BP) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

Several other research analysts have also commented on BP. Royal Bank Of Canada raised shares of BP from a “sector perform” rating to an “outperform” rating in a report on Monday, May 11th. Wall Street Zen upgraded shares of BP from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Argus raised shares of BP from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Monday, May 11th. Freedom Capital raised BP from a “strong sell” rating to a “hold” rating in a report on Thursday, August 6th. Finally, TD Cowen increased their price target on BP from $40.00 to $41.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, BP presently has an average rating of “Moderate Buy” and a consensus target price of $46.59.

BP Price Performance

Shares of BP opened at $45.68 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. The firm has a market cap of $119.65 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 0.57 and a beta of 0.15. BP has a 52 week low of $32.72 and a 52 week high of $48.27. The stock has a 50 day moving average of $42.40 and a 200-day moving average of $42.89.

BP (NYSE:BP) last announced its quarterly earnings data on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.35. The firm had revenue of $69.11 billion for the quarter, compared to analysts’ expectations of $57.89 billion. BP had a return on equity of 16.63% and a net margin of 2.49%.The firm’s revenue for the quarter was up 106.1% on a year-over-year basis. During the same period last year, the business posted $0.90 earnings per share. As a group, analysts forecast that BP will post 6.45 EPS for the current year.

Institutional Investors Weigh In On BP

A number of institutional investors have recently added to or reduced their stakes in BP. Sound Shore Management Inc. CT acquired a new position in BP during the fourth quarter worth $67,890,000. Van ECK Associates Corp lifted its holdings in shares of BP by 290.2% during the second quarter. Van ECK Associates Corp now owns 2,049,151 shares of the oil and gas exploration company’s stock worth $75,716,000 after buying an additional 1,524,048 shares during the last quarter. Alyeska Investment Group L.P. grew its position in BP by 48.8% in the 2nd quarter. Alyeska Investment Group L.P. now owns 2,830,923 shares of the oil and gas exploration company’s stock worth $104,603,000 after purchasing an additional 928,617 shares during the last quarter. Kahn Brothers Group Inc. bought a new position in BP during the second quarter valued at about $23,094,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of BP in the first quarter valued at $28,136,000. 11.01% of the stock is currently owned by institutional investors and hedge funds.

BP News Summary

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP was added to several Zacks Rank #1 (Strong Buy) lists covering value, growth, momentum and income stocks. The ratings reflect favorable earnings-estimate trends and BP’s relatively attractive valuation, supporting continued investor interest. New Strong Buy Stocks for September 9th
• Positive Sentiment: Analysts highlighted BP as an appealing way to gain exposure to high oil prices without paying a premium valuation. Its recent earnings beat—with quarterly EPS of $2.22 versus the $1.87 consensus—and sharply higher revenue provide additional support for the bullish view. Why BP Is One of the Best Oil Stocks to Buy Right Now
• Positive Sentiment: BP and SOCAR received approval to advance drilling activity in Uzbekistan, adding a potential longer-term exploration and production growth opportunity. BP and Socar get green light for Uzbekistan drilling push
• Neutral Sentiment: Shell agreed to acquire a 30% interest in Conifer, a BP-operated deepwater prospect in the Gulf of Mexico. The transaction may validate BP’s asset and reduce its capital exposure, although comparisons emphasize Shell’s stronger cash flow and could limit BP’s relative appeal. Could Shell’s Superior Cash Flow Make It a Better Bet Than BP?
• Neutral Sentiment: Potential buyers are reportedly evaluating BP’s North Sea operations. A sale could generate cash and simplify the portfolio, but reports remain preliminary and the value and timing of any transaction are uncertain. BP North Sea Operations Garner Interest From Potential Buyers
• Negative Sentiment: A labor lockout at BP’s Whiting refinery is approaching six months, prolonging disruption and increasing the risk of higher costs, lost production or an extended dispute. BP Whiting refinery lockout nears six months

BP Company Profile

BP p.l.c. is a global integrated energy company headquartered in London, England. Its operations span the energy value chain, including exploration and production of oil and natural gas, refining, fuel marketing, energy trading and transportation. BP also produces and markets lubricants through its Castrol brand and supplies fuels through retail networks operating under brands such as BP, Aral and ampm.

The company has operations and business relationships across multiple regions, including the Americas, Europe, the Middle East, Africa and Asia-Pacific.