BP (NYSE:BP) Sees Unusually-High Trading Volume – Still a Buy?

Shares of BP p.l.c. (NYSE:BP) saw an uptick in trading volume on Friday . 32,072,828 shares changed hands during trading, an increase of 250% from the previous session’s volume of 9,155,544 shares.The stock last traded at $34.59 and had previously closed at $34.75.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of BP from an “underweight” rating to a “neutral” rating in a report on Thursday, February 20th. Raymond James lifted their price objective on BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. TD Cowen lowered BP from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research note on Wednesday. StockNews.com downgraded shares of BP from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company raised their target price on shares of BP from $30.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, two have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, BP currently has an average rating of “Hold” and a consensus price target of $37.48.

BP Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.25. The stock has a 50-day moving average of $32.63 and a two-hundred day moving average of $31.27. The company has a market cap of $92.61 billion, a P/E ratio of 432.45, a price-to-earnings-growth ratio of 1.12 and a beta of 0.58.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.12). BP had a return on equity of 10.96% and a net margin of 0.20%. On average, equities research analysts predict that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 21st will be issued a $0.48 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.92 dividend on an annualized basis and a yield of 5.55%. BP’s payout ratio is currently 2,375.00%.

Institutional Trading of BP

A number of institutional investors and hedge funds have recently modified their holdings of BP. Asset Planning Inc purchased a new stake in shares of BP during the fourth quarter valued at $40,000. Bank & Trust Co lifted its stake in BP by 404.8% during the 4th quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock valued at $63,000 after acquiring an additional 1,700 shares during the period. Versant Capital Management Inc boosted its holdings in shares of BP by 41.0% during the 4th quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock valued at $66,000 after acquiring an additional 646 shares during the last quarter. Anchor Investment Management LLC raised its holdings in shares of BP by 58.7% during the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after purchasing an additional 1,154 shares during the last quarter. Finally, Wellington Shields Capital Management LLC lifted its position in BP by 26.9% during the fourth quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company’s stock valued at $223,000 after purchasing an additional 1,600 shares during the period. Institutional investors own 11.01% of the company’s stock.

About BP

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.