BP (NYSE:BP) Given Hold (C-) Rating at Weiss Ratings

Key Points

• Weiss Ratings has reissued a "hold (C-)" rating for BP, while several other analysts have conflicting ratings, highlighting a mix of sentiment surrounding the company's stock.
• BP's recent earnings report showed an EPS of $0.90, surpassing estimates, although revenue declined by 1.4% year-over-year, raising concerns about future performance.
• The stock has seen institutional interest, with significant stake increases from multiple investment firms, indicating potential confidence in the company's growth prospects.

BP (NYSE:BP - Get Free Report)'s stock had its "hold (c-)" rating reissued by analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Several other analysts have also recently issued reports on the company. Raymond James Financial upped their price objective on BP from $36.00 to $40.00 and gave the stock an "outperform" rating in a report on Thursday, September 25th. Berenberg Bank raised BP from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. Melius Research assumed coverage on BP in a report on Wednesday, August 20th. They set a "buy" rating and a $66.00 price objective on the stock. BNP Paribas upgraded BP from a "neutral" rating to an "outperform" rating in a report on Monday, September 15th. Finally, Wells Fargo & Company increased their price target on BP from $27.00 to $32.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, BP has an average rating of "Moderate Buy" and a consensus target price of $42.05.

BP Trading Down 1.3%

BP stock traded down $0.44 during mid-day trading on Wednesday, reaching $34.53. 5,128,178 shares of the company traded hands, compared to its average volume of 10,301,540. The firm's 50 day moving average price is $34.28 and its 200 day moving average price is $31.58. The firm has a market capitalization of $90.94 billion, a price-to-earnings ratio of 164.44, a P/E/G ratio of 2.06 and a beta of 0.54. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.21 and a quick ratio of 0.92. BP has a 52-week low of $25.22 and a 52-week high of $35.88.

BP (NYSE:BP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The oil and gas exploration company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.22. The firm had revenue of $46.63 billion during the quarter, compared to analyst estimates of $42.88 billion. BP had a return on equity of 9.08% and a net margin of 0.29%.BP's quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 EPS. On average, analysts anticipate that BP will post 3.53 earnings per share for the current fiscal year.

Institutional Trading of BP

A number of institutional investors have recently made changes to their positions in the company. Heartwood Wealth Advisors LLC acquired a new position in BP during the third quarter worth $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in BP during the second quarter worth $27,000. Cary Street Partners Investment Advisory LLC boosted its stake in BP by 2,250.0% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 940 shares of the oil and gas exploration company's stock worth $32,000 after buying an additional 900 shares during the last quarter. Missouri Trust & Investment Co raised its position in BP by 400.0% in the first quarter. Missouri Trust & Investment Co now owns 1,000 shares of the oil and gas exploration company's stock valued at $34,000 after purchasing an additional 800 shares during the period. Finally, GW&K Investment Management LLC raised its position in BP by 178.0% in the first quarter. GW&K Investment Management LLC now owns 1,034 shares of the oil and gas exploration company's stock valued at $35,000 after purchasing an additional 662 shares during the period. 11.01% of the stock is owned by institutional investors and hedge funds.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.

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