BP (NYSE:BP) Upgraded at Argus

Argus upgraded shares of BP (NYSE:BP) to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

BP has been the topic of several other reports. HSBC downgraded shares of BP from a “hold” rating to a “reduce” rating and set a $38.50 target price on the stock. in a research report on Thursday, February 12th. Melius Research lowered BP from a “buy” rating to a “sell” rating and set a $31.00 target price for the company. in a report on Wednesday, February 11th. Piper Sandler increased their price target on BP from $43.00 to $44.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Wolfe Research restated an “outperform” rating and issued a $51.00 price objective on shares of BP in a research note on Thursday, December 18th. Finally, Citigroup reiterated a “buy” rating on shares of BP in a report on Monday, November 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.35.

BP Trading Up 1.3%

NYSE BP opened at $39.02 on Tuesday. The company has a market capitalization of $102.32 billion, a PE ratio of -3,898.20, a price-to-earnings-growth ratio of 1.83 and a beta of 0.33. BP has a 1-year low of $25.22 and a 1-year high of $39.51. The company has a current ratio of 1.26, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74. The firm’s fifty day simple moving average is $36.04 and its 200-day simple moving average is $35.29.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, February 10th. The oil and gas exploration company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $47.38 billion during the quarter, compared to the consensus estimate of $42.19 billion. BP had a return on equity of 9.68% and a net margin of 0.03%.The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $0.44 EPS. As a group, sell-side analysts anticipate that BP will post 3.53 earnings per share for the current fiscal year.

BP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, February 20th will be given a $0.4992 dividend. The ex-dividend date is Friday, February 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.1%. BP’s dividend payout ratio (DPR) is currently -19,800.00%.

Institutional Investors Weigh In On BP

Several institutional investors and hedge funds have recently made changes to their positions in BP. Strategic Advocates LLC acquired a new position in BP in the third quarter valued at about $25,000. Heartwood Wealth Advisors LLC acquired a new position in shares of BP in the 3rd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in BP during the 2nd quarter worth approximately $27,000. YANKCOM Partnership increased its holdings 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 purchasing an additional 876 shares in the last quarter. Finally, Triumph Capital Management bought a new position in BP in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 11.01% of the company’s stock.

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.