BP (NYSE:BP) Upgraded at Wall Street Zen

BP (NYSE:BP) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group reiterated a “hold” rating on shares of BP in a report on Thursday, January 8th. Wolfe Research restated an “outperform” rating and set a $51.00 target price on shares of BP in a research report on Thursday, December 18th. Piper Sandler reduced their price target on BP from $44.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Scotiabank set a $41.00 price target on BP in a research note on Friday, January 16th. Finally, Raymond James Financial cut their price objective on BP from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, BP has an average rating of “Hold” and a consensus price target of $40.41.

BP Stock Performance

NYSE BP opened at $37.91 on Friday. The business’s 50 day moving average price is $35.45 and its 200-day moving average price is $34.71. BP has a fifty-two week low of $25.22 and a fifty-two week high of $38.88. The company has a market cap of $98.82 billion, a P/E ratio of 65.36, a P/E/G ratio of 2.11 and a beta of 0.32. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.89 and a current ratio of 1.19.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas exploration company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.13. BP had a return on equity of 9.07% and a net margin of 0.79%.The company had revenue of $48.42 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period last year, the company earned $0.83 earnings per share. BP’s revenue was up 2.5% on a year-over-year basis. Sell-side analysts predict that BP will post 3.53 earnings per share for the current year.

Institutional Trading of BP

Hedge funds have recently added to or reduced their stakes in the business. Strategic Advocates LLC purchased a new position in BP during the 3rd quarter valued at about $25,000. Heartwood Wealth Advisors LLC bought a new position in shares of BP during the third quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in BP during the second quarter valued at approximately $27,000. Acima Private Wealth LLC purchased a new stake in BP during the second quarter worth $32,000. Finally, YANKCOM Partnership boosted its position in BP by 1,068.3% during the 4th quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company’s stock valued at $33,000 after acquiring an additional 876 shares in the last quarter. 11.01% of the stock is owned by hedge funds and other institutional investors.

About BP

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.