Twenty-two rating agencies cover BP Plc (NYSE: BP), and Bloomberg.com reports that these agencies have collectively given the Stock an average recommendation of “Moderate Buy.” This recommendation implies that prospective buyers of the stock should give serious consideration to doing so. Nine different financial experts have given the company a recommendation to buy shares; six different analysts have given the company a recommendation to hold onto their shares; and one analyst has given the company a recommendation to sell their shares. Brokers who updated their coverage of the stock in the previous year have set the average price estimate for the stock for the next 12 months at $235.93, which is for the stock as a whole.
Many scientific organizations have produced reports on BP that have been made public. JPMorgan Chase & Co. stated in a research note published on Friday, December 2, that they were increasing their price objective for BP from GBX 530 ($6.40) to GBX 560 ($6.76). They made this announcement in response to BP’s recent stock performance. In a research report released on November 2, TD Securities upgraded BP from a “hold” rating to a “buy” rating and raised its target price on the stock from $32.00 to $34.00. Both of these changes were made to the company’s stock. Morgan Stanley increased their price objective for BP from GBX 566 ($6.83) to GBX 603 ($7.28) in a research report published on Tuesday, November 8. Instead of an “outperform” rating, the stock of BP was given the designation of “sector perform” in a study conducted by Scotiabank and made available to the public on Thursday, October 13. Deutsche Bank Aktiengesellschaft raised its target price on BP from GBX 527 ($6.36) to GBX 549 ($6.63) in a study released on Tuesday, December 6. This marked the second time the company has increased its prices in as many weeks.
When trading started on Friday, BP’s share price was $34.93. The company’s moving average over the previous 200 days is $31.29, while the moving average over the previous 50 days is $34.11. The company possesses a price-to-earnings ratio of -10.18, a price-to-growth ratio of 0.65, and a beta of 0.77. The company is worth $108.28 billion to the market as a whole. During the previous year, the price of a share of BP fluctuated between a high of $36.11 and a low of $25.36. The debt-to-equity ratio is calculated to be 0.58, the quick ratio is calculated to be 0.76, and the current ratio is calculated to be 1.04.
The most recent quarterly earnings report for BP, which is traded on the New York Stock Exchange under the symbol BP, was released on November 1. The oil and gas exploration company announced that its quarterly earnings per share (EPS) came in at $2.59, which was $0.65 more than the average projection of $1.94. In addition, the most recent quarter’s sales results for the company came in at $57.81 billion, which is significantly higher than the average prediction of $57.46 billion in sales for that quarter. BP had a return on equity of 33.24 percent, and the net margin for the company was 4.75 percent. According to the forecasts provided by industry analysts, BP will finish the current fiscal year with earnings per share of $8.93. This information comes from the company’s annual report.
In addition, the company has just recently announced and paid out a quarterly dividend, which was done so on December 16. On Friday, November 11, $0.3604 dividend payments were distributed to shareholders on record when the dividends were declared. Because of this, the dividend yield reaches 4.13 percent, and the annual dividend payment comes to 1.44 dollars. The date that constituted the beginning of the ex-dividend period was this past Thursday, November 10. BP’s dividend payout ratio is currently at a level of -41.40 percent as of right now.
As a result of recent happenings, the positions taken by several hedge funds regarding BP have shifted. Through the first three months of this year, Cowa LLC increased the proportion of BP stock owned by 10,274.3 percent. Cowa LLC now directly holds 2,070,297 shares in the oil and gas exploration business, which have a value of $609,000 after purchasing an additional 2,050,341 shares during this period. Old Mission Capital LLC increased its holdings in BP by purchasing Additional Shares during the year’s second quarter at a total cost of $21,904,000. During the third quarter, Janney Capital Management LLC increased the value of its holdings of BP by purchasing an additional 19 718 000 shares for a total of 19 718 000. In addition, the Teachers Retirement System of Kentucky put a total of $16,192,000 into a new stake with BP during the third quarter of the fiscal year. And finally, during the third quarter, the New York State Common Retirement Fund increased 359.8 percent in the proportion of BP stock held within its portfolio. The New York State Common Retirement Fund now has a total of 619,298 shares of the oil and gas development company’s stock, which are worth a combined total of $17,681,000 after the fund purchased an additional 484,618 shares during the most recent quarter. This brings the fund’s total number of shares to 619,298. Currently, 9.30% of the company’s stock is owned by institutional investors and individuals working for hedge funds.
BP plc is a prominent participant in the international energy market and several other companies. It conducts its operations in four market segments: gas and low-carbon energy, oil production and operations, customers and products, and Rosneft. Its wholly-owned subsidiary is Rosneft. It produces natural gas and sells it; makes biofuels and distributes them; operates solar power facilities and onshore and offshore wind farms; and provides decarbonization solutions and services such as carbon capture and storage and hydrogen. All of these things are done by the company.
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