Raymond James Boosts BP (NYSE:BP) Price Target to $39.00

BP (NYSE:BPGet Rating) had its price objective increased by research analysts at Raymond James from $37.00 to $39.00 in a report released on Monday, Benzinga reports. The firm currently has an “outperform” rating on the oil and gas exploration company’s stock. Raymond James’ price target would suggest a potential upside of 24.64% from the company’s current price.

Several other equities analysts also recently commented on BP. Morgan Stanley raised BP from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, March 23rd. JPMorgan Chase & Co. lowered their price objective on BP from GBX 600 ($7.82) to GBX 500 ($6.52) in a research report on Monday, February 28th. Zacks Investment Research cut shares of BP from a “strong-buy” rating to a “hold” rating and set a $38.00 target price for the company. in a research report on Monday, February 7th. TheStreet raised shares of BP from a “c+” rating to a “b” rating in a research report on Tuesday, February 8th. Finally, Berenberg Bank dropped their price objective on BP from GBX 475 ($6.19) to GBX 450 ($5.86) in a report on Tuesday, March 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $112.79.

Shares of NYSE BP opened at $31.29 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.15 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $30.24 and its two-hundred day moving average price is $29.20. The company has a market cap of $102.63 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.96 and a beta of 0.77. BP has a twelve month low of $22.64 and a twelve month high of $34.16.

BP (NYSE:BPGet Rating) last posted its earnings results on Tuesday, February 8th. The oil and gas exploration company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.05. The business had revenue of $50.55 billion for the quarter, compared to analyst estimates of $35.56 billion. BP had a return on equity of 14.10% and a net margin of 4.61%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.03 EPS. As a group, research analysts anticipate that BP will post 5.66 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Strategic Asset Management LLC bought a new stake in BP in the third quarter worth approximately $28,000. Amplius Wealth Advisors LLC bought a new stake in shares of BP in the 4th quarter valued at $35,000. Carroll Investors Inc acquired a new position in shares of BP during the 4th quarter valued at $38,000. Fieldpoint Private Securities LLC boosted its stake in BP by 50.3% during the fourth quarter. Fieldpoint Private Securities LLC now owns 1,450 shares of the oil and gas exploration company’s stock worth $39,000 after acquiring an additional 485 shares in the last quarter. Finally, Leverty Financial Group LLC acquired a new stake in BP in the fourth quarter worth $48,000. 8.78% of the stock is currently owned by institutional investors and hedge funds.

BP Company Profile (Get Rating)

BP p.l.c. engages in the energy business worldwide. It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. It produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such as hydrogen, and carbon capture, usage and storage.

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Analyst Recommendations for BP (NYSE:BP)

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