Equities research analysts at Scotiabank initiated coverage on shares of BP (NYSE:BP) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set a "sector perform" rating on the oil and gas exploration company's stock.
BP has been the topic of several other reports. Raymond James restated a "buy" rating and set a $28.00 price target on shares of BP in a research report on Tuesday, September 15th. UBS Group reaffirmed a "buy" rating on shares of BP in a research report on Monday, June 15th. TheStreet cut shares of BP from a "c-" rating to a "d+" rating in a research report on Friday, August 14th. JPMorgan Chase & Co. reissued an "overweight" rating on shares of BP in a research note on Wednesday, July 15th. Finally, Barclays reaffirmed an "overweight" rating on shares of BP in a research note on Wednesday, July 1st. Four analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company's stock. BP presently has a consensus rating of "Hold" and a consensus target price of $29.66.
Shares of BP stock traded down $0.51 during midday trading on Wednesday, reaching $17.97. 12,121,159 shares of the company's stock traded hands, compared to its average volume of 13,344,479. The stock has a 50 day moving average of $21.40 and a 200-day moving average of $23.07. BP has a 12 month low of $15.51 and a 12 month high of $40.08. The company has a market cap of $60.68 billion, a PE ratio of -2.76 and a beta of 0.71. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.08 and a current ratio of 1.30.
BP (NYSE:BP) last announced its earnings results on Tuesday, August 4th. The oil and gas exploration company reported ($1.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.99) by ($0.99). BP had a negative net margin of 9.45% and a negative return on equity of 1.14%. The company had revenue of $31.68 billion for the quarter, compared to the consensus estimate of $38.70 billion. During the same period in the previous year, the firm posted $0.14 EPS. The company's revenue for the quarter was down 56.4% on a year-over-year basis. On average, equities analysts anticipate that BP will post -1.62 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the business. Ellis Investment Partners LLC increased its position in BP by 68.5% in the second quarter. Ellis Investment Partners LLC now owns 1,230 shares of the oil and gas exploration company's stock worth $28,000 after buying an additional 500 shares in the last quarter. JNBA Financial Advisors boosted its holdings in shares of BP by 109.1% during the 2nd quarter. JNBA Financial Advisors now owns 1,246 shares of the oil and gas exploration company's stock valued at $29,000 after purchasing an additional 650 shares during the last quarter. Solstein Capital LLC purchased a new position in shares of BP during the first quarter valued at about $32,000. Sound Income Strategies LLC increased its holdings in shares of BP by 48.1% in the second quarter. Sound Income Strategies LLC now owns 1,407 shares of the oil and gas exploration company's stock worth $33,000 after purchasing an additional 457 shares during the last quarter. Finally, Campbell Wealth Management bought a new stake in shares of BP in the second quarter worth about $43,000. 8.51% of the stock is owned by institutional investors and hedge funds.
BP Company Profile
BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
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