BP p.l.c. (BP) Stock Rating Lowered by Vetr Inc.
BP p.l.c. (NYSE:BP) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. They currently have a $43.32 target price on the oil and gas exploration company’s stock. Vetr‘s target price indicates a potential upside of 12.20% from the company’s previous close.
A number of other equities analysts have also weighed in on BP. Morgan Stanley reissued a “buy” rating on shares of BP p.l.c. in a research report on Monday, June 12th. J P Morgan Chase & Co reissued an “overweight” rating on shares of BP p.l.c. in a research report on Monday, June 12th. Macquarie lowered shares of BP p.l.c. from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 21st. Bank of America Corporation lowered shares of BP p.l.c. from a “neutral” rating to an “underperform” rating in a research report on Friday, June 30th. Finally, Kepler Capital Markets lowered shares of BP p.l.c. from a “hold” rating to a “reduce” rating in a research report on Friday, June 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $37.09.
BP p.l.c. (NYSE BP) traded down 0.83% during mid-day trading on Wednesday, reaching $38.29. 1,711,430 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $36.14 and its 200 day moving average is $35.40. BP p.l.c. has a 1-year low of $32.53 and a 1-year high of $38.81. The stock has a market capitalization of $125.63 billion, a PE ratio of 33.41 and a beta of 0.95.
BP p.l.c. (NYSE:BP) last announced its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.18). The business had revenue of $56.51 billion for the quarter, compared to analyst estimates of $56.09 billion. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. The business’s revenue was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.23 EPS. Analysts forecast that BP p.l.c. will post $1.65 earnings per share for the current fiscal year.
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Hedge funds have recently made changes to their positions in the company. Burt Wealth Advisors boosted its stake in shares of 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 valued at $108,000 after purchasing an additional 200 shares during the period. Vestor Capital LLC purchased a new position in shares of BP p.l.c. in the second quarter valued at $116,000. Pictet North America Advisors SA purchased a new position in shares of BP p.l.c. in the first quarter valued at $128,000. IHT Wealth Management LLC boosted its stake in shares of BP p.l.c. by 21.4% in the first quarter. IHT Wealth Management LLC now owns 3,903 shares of the oil and gas exploration company’s stock valued at $135,000 after purchasing an additional 689 shares during the period. Finally, AlphaMark Advisors LLC boosted its stake in shares of BP p.l.c. by 16.8% in the first quarter. AlphaMark Advisors LLC now owns 4,162 shares of the oil and gas exploration company’s stock valued at $144,000 after purchasing an additional 600 shares during the period. Institutional investors and hedge funds own 10.09% of the company’s stock.
About BP p.l.c.
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.
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