BP p.l.c. (NYSE:BP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “BP is one of the largest integrated energy firms in the world with a strong and diversified portfolio of development projects. The company has gained 15.5% over the last three months, outperforming the industry’s 12% gain.  For the fourth quarter of 2017, BP projects sequentially higher production owing to ongoing project ramp ups.   Also, the company has restarted share repurchase plan beginning fourth quarter 2017. However, the oil spill incident of 2010 in the BP-operated Macondo Prospect continues to affect the company. Although BP has cleared the substantial litigation expenses related to the spill, it had to divest some of its best operating properties.”

Several other brokerages have also issued reports on BP. Scotiabank set a $37.00 target price on shares of BP p.l.c. and gave the stock a “buy” rating in a research report on Tuesday, August 1st. BidaskClub lowered shares of BP p.l.c. from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. TheStreet lowered shares of BP p.l.c. from a “b-” rating to a “c” rating in a research report on Thursday, August 10th. Vetr lowered shares of BP p.l.c. from a “buy” rating to a “hold” rating and set a $40.67 target price for the company. in a research report on Monday, October 30th. Finally, Piper Jaffray Companies upgraded shares of BP p.l.c. from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $36.33 to $42.00 in a research report on Friday, August 4th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $38.66.

BP p.l.c. (NYSE:BP) traded down $0.32 during trading on Wednesday, hitting $38.77. 3,547,700 shares of the stock traded hands, compared to its average volume of 5,514,269. The company has a market capitalization of $129,180.00, a PE ratio of 28.53, a P/E/G ratio of 1.11 and a beta of 0.98. BP p.l.c. has a 52-week low of $33.10 and a 52-week high of $41.55. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57.

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Hedge funds have recently added to or reduced their stakes in the stock. Burt Wealth Advisors raised its stake in BP p.l.c. by 6.8% in the second quarter. Burt Wealth Advisors now owns 3,136 shares of the oil and gas exploration company’s stock worth $108,000 after buying an additional 200 shares in the last quarter. Vestor Capital LLC bought a new position in BP p.l.c. in the second quarter worth about $116,000. Cable Hill Partners LLC raised its stake in BP p.l.c. by 639.9% in the third quarter. Cable Hill Partners LLC now owns 3,559 shares of the oil and gas exploration company’s stock worth $137,000 after buying an additional 3,078 shares in the last quarter. Fieldpoint Private Securities LLC bought a new position in BP p.l.c. in the third quarter worth about $151,000. Finally, Johnson Financial Group Inc. increased its stake in shares of BP p.l.c. by 1.2% during the second quarter. Johnson Financial Group Inc. now owns 4,672 shares of the oil and gas exploration company’s stock valued at $162,000 after purchasing an additional 55 shares in the last quarter. 9.94% of the stock is owned by institutional investors.

BP p.l.c. Company Profile

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

Analyst Recommendations for BP p.l.c. (NYSE:BP)

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