BP p.l.c. (NYSE:BP) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Analyst consensus on BP is “Hold” among 23 brokerages: 12 recommend buying, nine advise holding and two rate the stock a sell. The average 12-month price target is $46.36, versus a recent price of $42.86.
• BP reported quarterly earnings of $2.22 per share, exceeding estimates of $1.87, while revenue rose 106.1% year over year to $69.11 billion.
• BP increased its quarterly dividend to $0.5196 per share, implying an annualized payout of $2.08 and a 4.8% yield; the dividend payout ratio is approximately 100.5%.

BP p.l.c. (NYSE:BP - Get Free Report) has received an average recommendation of "Hold" from the twenty-three ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $46.3615.

A number of research firms recently commented on BP. TD Cowen lifted their price objective on BP from $40.00 to $41.00 and gave the stock a "hold" rating in a research report on Thursday, July 16th. Wells Fargo & Company reduced their target price on shares of BP from $54.00 to $48.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 5th. Freedom Capital upgraded shares of BP from a "strong sell" rating to a "hold" rating in a report on Thursday, August 6th. Mizuho set a $53.00 price objective on shares of BP in a research report on Wednesday, August 5th. Finally, Argus raised shares of BP from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research note on Monday, May 11th.

BP Stock Up 0.8%

BP stock opened at $42.86 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.27 and a quick ratio of 0.95. The company's 50 day simple moving average is $41.01 and its 200-day simple moving average is $42.22. BP has a 12 month low of $32.72 and a 12 month high of $48.27. The firm has a market capitalization of $112.26 billion, a PE ratio of 20.91, a P/E/G ratio of 0.58 and a beta of 0.15.

BP (NYSE:BP - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.35. BP had a return on equity of 16.63% and a net margin of 2.49%.The company had revenue of $69.11 billion during the quarter, compared to the consensus estimate of $57.89 billion. During the same quarter last year, the business posted $0.90 earnings per share. BP's revenue was up 106.1% compared to the same quarter last year. Equities analysts expect that BP will post 6.04 earnings per share for the current fiscal year.

BP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.5196 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.8%. This is a boost from BP's previous quarterly dividend of $0.50. BP's dividend payout ratio is currently 100.49%.

Institutional Investors Weigh In On BP

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. First Horizon Corp lifted its position in BP by 8.1% during the fourth quarter. First Horizon Corp now owns 3,933 shares of the oil and gas exploration company's stock worth $137,000 after buying an additional 296 shares during the period. HBK Sorce Advisory LLC lifted its holdings in shares of BP by 2.9% during the 2nd quarter. HBK Sorce Advisory LLC now owns 11,424 shares of the oil and gas exploration company's stock worth $422,000 after acquiring an additional 317 shares during the period. Versant Capital Management Inc boosted its position in shares of BP by 4.8% in the second quarter. Versant Capital Management Inc now owns 7,953 shares of the oil and gas exploration company's stock worth $294,000 after acquiring an additional 366 shares during the last quarter. United Community Bank grew its holdings in BP by 1.3% in the fourth quarter. United Community Bank now owns 29,456 shares of the oil and gas exploration company's stock valued at $1,023,000 after purchasing an additional 370 shares during the period. Finally, Atlas Brown Inc. grew its holdings in BP by 1.0% in the second quarter. Atlas Brown Inc. now owns 36,925 shares of the oil and gas exploration company's stock valued at $1,364,000 after purchasing an additional 370 shares during the period. Hedge funds and other institutional investors own 11.01% of the company's stock.

BP Company Profile

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.

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