BP p.l.c. (NYSE:BP) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• BP has a consensus analyst rating of “Moderate Buy” from 24 covering firms, with an average 1-year price target of about $46.14. Analyst views are mixed, with 3 sells, 8 holds, 11 buys, and 2 strong buys.
• The company reported stronger-than-expected Q1 results, posting $1.24 EPS versus the $1.00 estimate and revenue of $52.26 billion versus $48.50 billion expected. Revenue rose 11.4% year over year, and BP’s annualized dividend is $2.00 per share, implying a 5.4% yield.
• Recent news has been mixed: BP is expanding its gas portfolio through a concession deal with ADNOC and partners on the Bab Gas Cap project in the UAE, while legal scrutiny and reports of rising short interest could weigh on sentiment.

Shares of BP p.l.c. (NYSE:BP - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the twenty-four research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, eleven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $46.1417.

BP has been the topic of several research reports. Weiss Ratings reissued a "hold (c-)" rating on shares of BP in a research report on Thursday, June 18th. Wells Fargo & Company increased their price target on shares of BP from $39.00 to $54.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 9th. Zacks Research cut shares of BP from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 25th. Royal Bank Of Canada upgraded shares of BP from a "sector perform" rating to an "outperform" rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered shares of BP from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 20th.

Trending Headlines about BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP signed a concession agreement with ADNOC and partners to develop the Bab Gas Cap project in the UAE, taking a 10% stake. The deal gives BP direct access to Abu Dhabi upstream gas resources and supports its LNG growth strategy. BP signs concession deal with ADNOC, partners for Bab Gas Cap project
• Positive Sentiment: BP also joined TotalEnergies in the Bab Gas Cap project, reinforcing the company’s push to deepen its Middle East gas portfolio and potentially improving long-term production visibility. BP, TotalEnergies Join Bab Gas Cap Project in Abu Dhabi
• Positive Sentiment: BP said its new organizational structure, effective July 1, is designed to simplify the business, improve operational performance, and create more shareholder value, which may support longer-term investor confidence. BP Is Reshaping Its Entire Business Structure—What Management Is Trying to Achieve
• Neutral Sentiment: ONGC signed a technical services deal with bp for the Western Offshore Basin, adding another international partnership that could modestly support BP’s upstream presence. ONGC signs technical services deal with bp for Western Offshore Basin
• Neutral Sentiment: BP’s short interest rose sharply in June, which can signal growing bearish sentiment among traders and add pressure to the shares.
• Negative Sentiment: Reports that BP shares have been falling in London this week point to broader weakness in investor sentiment toward the stock and the energy sector. Here’s why the BP and Shell shares are falling in London this week
• Negative Sentiment: A lawsuit alleging BP and other retailers used AI to raise gas prices adds headline risk and could weigh on the stock if legal scrutiny intensifies. Walmart, 7-Eleven, Albertsons, and BP used AI to raise gas prices, lawsuit alleges
• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of BP investors, which can increase legal overhang and keep sentiment cautious. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of BP p.l.c. - BP

Institutional Trading of BP

Large investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in BP during the third quarter worth approximately $1,352,000. Gabelli Funds LLC raised its holdings in BP by 6.0% during the fourth quarter. Gabelli Funds LLC now owns 392,400 shares of the oil and gas exploration company's stock worth $13,628,000 after purchasing an additional 22,100 shares in the last quarter. Sound Shore Management Inc. CT acquired a new stake in BP during the fourth quarter worth approximately $67,890,000. Milford Funds Ltd. acquired a new stake in BP during the fourth quarter worth approximately $8,335,000. Finally, Winning Points Advisors LLC acquired a new stake in BP during the fourth quarter worth approximately $659,000. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

BP Trading Down 0.0%

Shares of BP stock opened at $37.11 on Monday. The company's 50-day moving average price is $43.43 and its 200-day moving average price is $40.63. BP has a twelve month low of $29.85 and a twelve month high of $48.27. The company has a current ratio of 1.22, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The stock has a market cap of $97.20 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 0.67 and a beta of 0.14.

BP (NYSE:BP - Get Free Report) last posted its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.24. The company had revenue of $52.26 billion for the quarter, compared to analysts' expectations of $48.50 billion. BP had a net margin of 1.62% and a return on equity of 12.06%. BP's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, equities analysts predict that BP will post 5.24 earnings per share for the current year.

BP Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, May 15th were paid a dividend of $0.4992 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date was Friday, May 15th. BP's dividend payout ratio is presently 165.00%.

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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