BP (NYSE:BP) Stock Rating Reaffirmed by JPMorgan Chase & Co.

BP (NYSE:BP)‘s stock had its “overweight” rating reiterated by equities researchers at JPMorgan Chase & Co. in a research note issued on Thursday, The Fly reports.

Other equities research analysts have also recently issued reports about the stock. restated a “neutral” rating and set a $70.00 price target on shares of BP in a report on Wednesday, June 30th. Wells Fargo & Company upped their price target on shares of BP from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, June 30th. Zacks Investment Research cut shares of BP from a “strong-buy” rating to a “hold” rating and set a $26.00 target price for the company. in a research note on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating on shares of BP in a research note on Wednesday, August 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of BP in a research note on Thursday, September 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.11.

NYSE BP opened at $26.24 on Thursday. BP has a 1-year low of $14.74 and a 1-year high of $28.49. The company has a current ratio of 1.23, a quick ratio of 0.91 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $88.09 billion, a PE ratio of 10.25, a price-to-earnings-growth ratio of 0.47 and a beta of 0.93. The firm’s fifty day simple moving average is $24.73 and its 200-day simple moving average is $25.58.

BP (NYSE:BP) last issued its quarterly earnings data on Monday, August 2nd. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.22. The firm had revenue of $36.47 billion during the quarter, compared to analysts’ expectations of $40.70 billion. BP had a net margin of 5.21% and a return on equity of 6.40%. BP’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted ($1.98) earnings per share. As a group, analysts predict that BP will post 3.27 EPS for the current year.

A number of hedge funds have recently made changes to their positions in the business. Comerica Bank boosted its stake in BP by 7.0% in the second quarter. Comerica Bank now owns 254,235 shares of the oil and gas exploration company’s stock valued at $5,990,000 after acquiring an additional 16,542 shares during the last quarter. Bramshill Investments LLC bought a new position in BP in the second quarter valued at approximately $365,000. Assetmark Inc. boosted its stake in BP by 48.8% in the second quarter. Assetmark Inc. now owns 1,485 shares of the oil and gas exploration company’s stock valued at $39,000 after acquiring an additional 487 shares during the last quarter. Keebeck Wealth Management LLC boosted its stake in BP by 36.8% in the second quarter. Keebeck Wealth Management LLC now owns 15,579 shares of the oil and gas exploration company’s stock valued at $412,000 after acquiring an additional 4,189 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in BP by 11.8% in the second quarter. Silvercrest Asset Management Group LLC now owns 124,713 shares of the oil and gas exploration company’s stock valued at $3,295,000 after acquiring an additional 13,205 shares during the last quarter. 8.37% of the stock is currently owned by hedge funds and other institutional investors.

About BP

BP Plc operates as an integrated oil and gas company. It operates through the following segments: Upstream, Downstream and Rosneft. The Upstream segment engages in the oil and natural gas exploration, field development and production, midstream transportation, storage and processing and marketing and trade of natural gas, including liquefied natural gas and power and natural gas liquids.

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