BP p.l.c. (NYSE:BP – Get Free Report) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 7,420,000 shares, a decline of 6.7% from the October 15th total of 7,950,000 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 8,640,000 shares, the short-interest ratio is presently 0.9 days.
BP Trading Down 1.6 %
NYSE BP opened at $35.02 on Friday. BP has a one year low of $32.30 and a one year high of $41.38. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.21 and a quick ratio of 0.91. The business has a 50 day simple moving average of $37.96 and a 200 day simple moving average of $36.79. The stock has a market capitalization of $100.44 billion, a P/E ratio of 4.14, a P/E/G ratio of 1.03 and a beta of 0.73.
BP (NYSE:BP – Get Free Report) last posted its quarterly earnings results on Tuesday, October 31st. The oil and gas exploration company reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.40 by ($0.25). The company had revenue of $53.27 billion during the quarter, compared to analyst estimates of $55.24 billion. BP had a return on equity of 18.23% and a net margin of 11.12%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.59 earnings per share. Research analysts expect that BP will post 5.33 earnings per share for the current year.
BP Announces Dividend
Hedge Funds Weigh In On BP
Hedge funds have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. lifted its stake in shares of BP by 202.7% during the 1st quarter. Brown Brothers Harriman & Co. now owns 5,921 shares of the oil and gas exploration company’s stock valued at $174,000 after buying an additional 3,965 shares in the last quarter. SS&H Financial Advisors Inc. purchased a new position in shares of BP during the first quarter worth about $338,000. Gamco Investors INC. ET AL bought a new position in shares of BP in the first quarter worth approximately $343,000. Cowa LLC lifted its position in BP by 10,274.3% during the first quarter. Cowa LLC now owns 2,070,297 shares of the oil and gas exploration company’s stock valued at $609,000 after purchasing an additional 2,050,341 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV purchased a new position in BP in the 1st quarter worth approximately $327,000. Institutional investors and hedge funds own 11.01% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on BP shares. JPMorgan Chase & Co. cut shares of BP from a “neutral” rating to an “underweight” rating in a research report on Wednesday, November 1st. TD Securities lowered their target price on shares of BP from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Raymond James cut their price target on BP from $46.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, November 1st. Citigroup reaffirmed a “buy” rating on shares of BP in a report on Friday, October 6th. Finally, StockNews.com assumed coverage on BP in a report on Thursday, October 5th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $332.73.
BP Company Profile
BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.
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