BP plc (BP) Receives $39.14 Average Price Target from Analysts

BP plc (NYSE:BP) has received an average rating of “Hold” from the twenty-one brokerages that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $40.05.

A number of brokerages recently issued reports on BP. Kepler Capital Markets upgraded shares of BP from a “reduce” rating to a “hold” rating in a report on Tuesday, October 3rd. Vetr cut shares of BP from a “strong-buy” rating to a “buy” rating and set a $43.32 price objective for the company. in a report on Wednesday, October 4th. Cowen restated a “hold” rating and set a $39.00 price objective on shares of BP in a report on Tuesday, October 24th. Piper Jaffray Companies restated a “buy” rating and set a $51.00 price objective on shares of BP in a report on Wednesday, January 24th. Finally, TheStreet upgraded shares of BP from a “c” rating to a “b” rating in a report on Wednesday, November 8th.

Shares of BP (BP) traded down $0.54 during trading hours on Friday, hitting $42.81. 8,177,657 shares of the stock traded hands, compared to its average volume of 5,727,824. BP has a 12 month low of $33.10 and a 12 month high of $44.62. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.18. The firm has a market cap of $144,130.00, a PE ratio of 36.59, a price-to-earnings-growth ratio of 0.91 and a beta of 0.97.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, October 31st. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.07. The firm had revenue of $60.81 billion during the quarter. BP had a net margin of 1.70% and a return on equity of 4.52%. sell-side analysts anticipate that BP will post 1.84 EPS for the current year.

Several hedge funds have recently made changes to their positions in BP. Ameriprise Financial Inc. increased its holdings in BP by 0.9% during the third quarter. Ameriprise Financial Inc. now owns 6,722,574 shares of the oil and gas exploration company’s stock worth $258,345,000 after buying an additional 61,668 shares during the last quarter. Acadian Asset Management LLC increased its holdings in BP by 17.3% during the fourth quarter. Acadian Asset Management LLC now owns 6,444,903 shares of the oil and gas exploration company’s stock worth $270,881,000 after buying an additional 950,489 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in BP by 6.2% during the third quarter. Russell Investments Group Ltd. now owns 4,085,982 shares of the oil and gas exploration company’s stock worth $157,009,000 after buying an additional 240,212 shares during the last quarter. Parametric Portfolio Associates LLC increased its holdings in BP by 4.5% during the third quarter. Parametric Portfolio Associates LLC now owns 2,975,774 shares of the oil and gas exploration company’s stock worth $114,359,000 after buying an additional 126,862 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in BP by 187.1% during the fourth quarter. Jennison Associates LLC now owns 809,211 shares of the oil and gas exploration company’s stock worth $34,011,000 after buying an additional 527,384 shares during the last quarter. 9.96% of the stock is currently owned by institutional investors and hedge funds.

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BP Company Profile

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

Analyst Recommendations for BP (NYSE:BP)

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