BP (NYSE:BP – Get Rating) had its price objective hoisted by stock analysts at Wells Fargo & Company from $36.00 to $37.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the oil and gas exploration company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 6.44% from the stock’s current price.
Several other research firms have also recently issued reports on BP. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of BP from GBX 527 ($6.42) to GBX 549 ($6.69) in a research report on Tuesday, December 6th. UBS Group lifted their price target on BP from GBX 510 ($6.21) to GBX 535 ($6.52) in a research report on Wednesday, November 2nd. Berenberg Bank boosted their price objective on BP from GBX 500 ($6.09) to GBX 560 ($6.82) in a research note on Friday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of BP from GBX 530 ($6.46) to GBX 560 ($6.82) in a research report on Friday, December 2nd. Finally, Morgan Stanley raised their price objective on shares of BP from GBX 566 ($6.90) to GBX 603 ($7.35) in a research note on Tuesday, November 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $288.17.
BP Stock Down 0.0 %
BP stock opened at $34.76 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.76 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $107.75 billion, a price-to-earnings ratio of -10.13, a price-to-earnings-growth ratio of 0.88 and a beta of 0.76. The firm’s fifty day moving average price is $34.32 and its two-hundred day moving average price is $31.55. BP has a 1-year low of $25.36 and a 1-year high of $36.11.
BP (NYSE:BP – Get Rating) last released its quarterly earnings data on Tuesday, November 1st. The oil and gas exploration company reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.65. BP had a negative net margin of 4.75% and a positive return on equity of 33.24%. The firm had revenue of $57.81 billion for the quarter, compared to analysts’ expectations of $57.46 billion. On average, equities research analysts predict that BP will post 8.93 earnings per share for the current fiscal year.
Institutional Trading of BP
A number of large investors have recently added to or reduced their stakes in BP. Capital Investment Advisors LLC bought a new stake in shares of BP during the 4th quarter worth $284,000. Future Financial Wealth Managment LLC acquired a new position in shares of BP in the fourth quarter worth about $200,000. Teachers Retirement System of The State of Kentucky purchased a new position in shares of BP in the third quarter worth approximately $16,192,000. Captrust Financial Advisors raised its stake in BP by 18.0% during the 3rd quarter. Captrust Financial Advisors now owns 388,505 shares of the oil and gas exploration company’s stock valued at $11,092,000 after purchasing an additional 59,170 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in shares of BP by 5.8% in the third quarter. CIBC Private Wealth Group LLC now owns 67,123 shares of the oil and gas exploration company’s stock worth $1,917,000 after buying an additional 3,686 shares during the period. 9.30% of the stock is currently owned by institutional investors.
About BP
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.
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