TD Securities Raises BP (NYSE:BP) Price Target to $44.00

BP (NYSE:BP) had its price objective hoisted by investment analysts at TD Securities from $43.00 to $44.00 in a report released on Wednesday, BayStreet.CA reports. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. TD Securities’ price target suggests a potential upside of 15.67% from the stock’s current price.

BP has been the subject of a number of other reports. Raymond James increased their target price on BP from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Jefferies Financial Group upgraded BP from a “hold” rating to a “buy” rating and increased their target price for the company from $38.60 to $42.30 in a research report on Monday, March 4th. Scotiabank increased their target price on BP from $45.00 to $47.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Piper Sandler raised their price target on BP from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. Finally, Erste Group Bank upgraded BP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.88.

BP Trading Up 1.4 %

Shares of BP opened at $38.04 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.94. BP has a 1 year low of $33.52 and a 1 year high of $40.84. The company has a 50 day simple moving average of $38.02 and a two-hundred day simple moving average of $36.45. The firm has a market cap of $107.13 billion, a P/E ratio of 7.47, a price-to-earnings-growth ratio of 2.65 and a beta of 0.67.

BP (NYSE:BP) last posted its earnings results on Tuesday, May 7th. The oil and gas exploration company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The firm had revenue of $48.88 billion for the quarter, compared to the consensus estimate of $53.65 billion. BP had a net margin of 7.15% and a return on equity of 16.00%. The firm’s revenue was down 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.66 earnings per share. On average, equities analysts expect that BP will post 5.02 earnings per share for the current fiscal year.

Institutional Trading of BP

Several institutional investors and hedge funds have recently made changes to their positions in the business. PSquared Asset Management AG bought a new stake in shares of BP during the fourth quarter worth $50,315,000. New York State Common Retirement Fund increased its stake in shares of BP by 32.7% during the third quarter. New York State Common Retirement Fund now owns 1,418,113 shares of the oil and gas exploration company’s stock valued at $54,909,000 after buying an additional 349,766 shares during the period. OLD Mission Capital LLC increased its stake in shares of BP by 145.5% during the fourth quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock valued at $23,233,000 after buying an additional 388,931 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of BP by 15.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 500,704 shares of the oil and gas exploration company’s stock valued at $17,725,000 after buying an additional 65,425 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of BP by 13.9% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 487,648 shares of the oil and gas exploration company’s stock valued at $17,263,000 after buying an additional 59,379 shares during the period. 11.01% of the stock is currently owned by institutional investors.

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.