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AAPL   107.81 (+0.64%)
MSFT   202.23 (+0.82%)
FB   247.88 (-0.46%)
GOOGL   1,413.99 (+0.33%)
AMZN   2,999.30 (-0.02%)
NVDA   491.65 (+1.38%)
TSLA   385.21 (+1.28%)
BABA   268.79 (-1.52%)
CGC   14.24 (-2.47%)
GE   6.05 (-0.98%)
MU   49.34 (-1.02%)
AMD   75.43 (+0.94%)
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DIS   122.23 (-0.85%)
BAC   23.32 (+0.26%)
BA   145.47 (-3.78%)
S&P 500   3,249.44 (+0.39%)
DOW   26,841.40 (+0.29%)
QQQ   264.08 (-0.03%)
AAPL   107.81 (+0.64%)
MSFT   202.23 (+0.82%)
FB   247.88 (-0.46%)
GOOGL   1,413.99 (+0.33%)
AMZN   2,999.30 (-0.02%)
NVDA   491.65 (+1.38%)
TSLA   385.21 (+1.28%)
BABA   268.79 (-1.52%)
CGC   14.24 (-2.47%)
GE   6.05 (-0.98%)
MU   49.34 (-1.02%)
AMD   75.43 (+0.94%)
T   27.99 (+0.43%)
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AAPL   107.81 (+0.64%)
MSFT   202.23 (+0.82%)
FB   247.88 (-0.46%)
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AMZN   2,999.30 (-0.02%)
NVDA   491.65 (+1.38%)
TSLA   385.21 (+1.28%)
BABA   268.79 (-1.52%)
CGC   14.24 (-2.47%)
GE   6.05 (-0.98%)
MU   49.34 (-1.02%)
AMD   75.43 (+0.94%)
T   27.99 (+0.43%)
F   6.65 (+0.15%)
ACB   5.13 (-0.77%)
GILD   61.77 (-2.09%)
NFLX   470.56 (-0.01%)
DIS   122.23 (-0.85%)
BAC   23.32 (+0.26%)
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Scotiabank Begins Coverage on BP (NYSE:BP)

Wednesday, September 23, 2020 | MarketBeat

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).

See Also: What causes a recession?

The Fly

Analyst Recommendations for BP (NYSE:BP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

10 Great Cheap Stocks to Buy Now for Under $10

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