BP (NYSE:BP) Stock Rating Lowered by StockNews.com

BP (NYSE:BP) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other research analysts also recently commented on BP. Morgan Stanley dropped their price objective on BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Piper Sandler reduced their price objective on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. BNP Paribas downgraded shares of BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group upgraded shares of BP to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Raymond James lifted their target price on BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Twelve analysts have rated the stock with a hold rating, four have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, BP presently has an average rating of “Moderate Buy” and an average price target of $38.76.

BP Trading Down 1.0 %

NYSE BP traded down $0.31 during trading on Tuesday, hitting $31.14. The stock had a trading volume of 6,388,044 shares, compared to its average volume of 9,582,181. BP has a twelve month low of $27.82 and a twelve month high of $40.40. The firm has a 50 day moving average price of $29.96 and a 200 day moving average price of $31.58. The company has a market capitalization of $84.05 billion, a PE ratio of 32.78, a PEG ratio of 2.21 and a beta of 0.64. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66.

BP (NYSE:BP) last released its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. BP had a net margin of 1.36% and a return on equity of 12.91%. The firm had revenue of $47.25 billion for the quarter, compared to analyst estimates of $52.05 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. As a group, equities research analysts forecast that BP will post 3.35 earnings per share for the current year.

Institutional Trading of BP

A number of institutional investors have recently modified their holdings of the business. Butensky & Cohen Financial Security Inc. lifted its stake in shares of BP by 0.3% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 129,215 shares of the oil and gas exploration company’s stock valued at $3,820,000 after purchasing an additional 358 shares during the period. ST Germain D J Co. Inc. raised its position in shares of BP by 9.0% during the 3rd quarter. ST Germain D J Co. Inc. now owns 4,549 shares of the oil and gas exploration company’s stock worth $143,000 after purchasing an additional 377 shares during the last quarter. Sunbelt Securities Inc. increased its position in BP by 3.8% during the third quarter. Sunbelt Securities Inc. now owns 11,459 shares of the oil and gas exploration company’s stock worth $360,000 after buying an additional 415 shares in the last quarter. Atlas Brown Inc. increased its position in BP by 1.2% during the 4th quarter. Atlas Brown Inc. now owns 37,338 shares of the oil and gas exploration company’s stock worth $1,104,000 after purchasing an additional 437 shares in the last quarter. Finally, ORG Partners LLC lifted its holdings in BP by 32.5% in the 3rd quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock valued at $80,000 after purchasing an additional 621 shares in the last quarter. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.