BP (NYSE:BP) Upgraded by Citigroup to “Buy”

Citigroup upgraded shares of BP (NYSE:BPGet Rating) from a neutral rating to a buy rating in a research report released on Tuesday, The Fly reports.

Several other research firms also recently weighed in on BP. UBS Group raised their price objective on BP from GBX 510 ($6.03) to GBX 535 ($6.33) in a report on Wednesday, November 2nd. HSBC raised BP from a hold rating to a buy rating in a report on Monday, October 24th. TD Securities lifted their target price on BP from $32.00 to $34.00 and gave the stock a hold rating in a report on Wednesday, November 2nd. Wells Fargo & Company raised BP from an underweight rating to an equal weight rating and lifted their target price for the stock from $31.00 to $36.00 in a report on Monday, November 7th. Finally, Scotiabank lowered BP from an outperform rating to a sector perform rating in a research report on Thursday, October 13th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $246.15.

BP Trading Up 5.3 %

NYSE BP opened at $34.89 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. BP has a twelve month low of $25.33 and a twelve month high of $34.95. The company has a market cap of $108.15 billion, a price-to-earnings ratio of -10.17, a price-to-earnings-growth ratio of 0.63 and a beta of 0.75. The business’s fifty day moving average is $31.62 and its 200 day moving average is $30.72.

BP Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, November 11th will be issued a dividend of $0.3604 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.13%. BP’s dividend payout ratio is currently -41.40%.

Institutional Trading of BP

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mach 1 Financial Group LLC bought a new stake in shares of BP during the third quarter valued at approximately $28,000. Turim 21 Investimentos Ltda. purchased a new position in shares of BP during the 1st quarter valued at $30,000. LS Investment Advisors LLC purchased a new position in shares of BP during the 2nd quarter valued at $31,000. GoalVest Advisory LLC lifted its stake in shares of BP by 200.6% during the 2nd quarter. GoalVest Advisory LLC now owns 1,638 shares of the oil and gas exploration company’s stock valued at $44,000 after buying an additional 1,093 shares in the last quarter. Finally, James Investment Research Inc. bought a new stake in BP in the 2nd quarter valued at $46,000. 9.22% of the stock is currently owned by hedge funds and other institutional investors.

About BP

(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 and storage.

Featured Articles

The Fly logo

Analyst Recommendations for BP (NYSE:BP)

Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.