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

Key Points

• Analysts rate BP “Moderate Buy” overall: Among 23 firms, 12 recommend buying, one strongly recommends buying, eight rate it a hold and two recommend selling. The average 12-month price target is $46.59.
• BP reported quarterly earnings of $2.22 per share, exceeding the $1.87 consensus estimate, while revenue surged 106.1% year over year to $69.11 billion.
• BP increased its quarterly dividend to $0.5196 per share, equivalent to a 4.5% annualized yield, though its payout ratio stands at 100%.

BP p.l.c. (NYSE:BP - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-three research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $46.5923.

Several brokerages have commented on BP. Mizuho set a $53.00 price objective on BP in a research report on Wednesday, August 5th. Morgan Stanley reiterated an "overweight" rating on shares of BP in a research report on Friday, September 4th. Piper Sandler boosted their target price on shares of BP from $43.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, September 3rd. Zacks Research raised shares of BP from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Finally, Wells Fargo & Company decreased their price objective on shares of BP from $54.00 to $48.00 and set an "equal weight" rating for the company in a report on Wednesday, August 5th.

BP Stock Performance

BP stock opened at $46.13 on Friday. 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 firm has a market capitalization of $120.85 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 0.54 and a beta of 0.15. BP has a 1-year low of $32.72 and a 1-year high of $48.27. The company's 50-day moving average is $42.75 and its 200 day moving average is $42.97.

BP (NYSE:BP - Get Free Report) last released its earnings results on Monday, August 3rd. The oil and gas exploration company reported $2.22 EPS for the quarter, beating analysts' consensus estimates of $1.87 by $0.35. BP had a return on equity of 16.63% and a net margin of 2.49%.The firm had revenue of $69.11 billion for the quarter, compared to analysts' expectations of $57.89 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The company's quarterly revenue was up 106.1% on a year-over-year basis. Research analysts forecast that BP will post 6.58 EPS for the current year.

BP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.5196 per share. This is a boost from BP's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 14th. BP's payout ratio is presently 100.00%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Financial Life Planners purchased a new stake in shares of BP in the 1st quarter worth $39,000. Triumph Capital Management purchased a new position in shares of BP during the third quarter valued at $43,000. WFA of San Diego LLC bought a new stake in shares of BP in the second quarter valued at about $46,000. Gill Capital Partners LLC raised its holdings in shares of BP by 53.2% in the second quarter. Gill Capital Partners LLC now owns 1,376 shares of the oil and gas exploration company's stock valued at $51,000 after acquiring an additional 478 shares in the last quarter. Finally, Community Bank N.A. lifted its stake in BP by 237.0% in the second quarter. Community Bank N.A. now owns 1,685 shares of the oil and gas exploration company's stock worth $62,000 after acquiring an additional 1,185 shares during the period. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

About BP

BP p.l.c. is a global integrated energy company headquartered in London, England. Its operations span the energy value chain, including exploration and production of oil and natural gas, refining, fuel marketing, energy trading and transportation. BP also produces and markets lubricants through its Castrol brand and supplies fuels through retail networks operating under brands such as BP, Aral and ampm.

The company has operations and business relationships across multiple regions, including the Americas, Europe, the Middle East, Africa and Asia-Pacific.

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