BP (NYSE:BP) Given New $37.00 Price Target at Raymond James

BP (NYSE:BP) had its target price lifted by Raymond James from $36.00 to $37.00 in a research note published on Friday morning,Benzinga reports. Raymond James currently has an outperform rating on the oil and gas exploration company’s stock.

BP has been the subject of several other reports. StockNews.com raised BP from a “hold” rating to a “buy” rating in a research report on Friday, January 10th. Scotiabank downgraded shares of BP from a “sector outperform” rating to a “sector perform” rating and cut their target price for the stock from $42.00 to $36.00 in a research note on Thursday, October 10th. Redburn Atlantic cut shares of BP from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 24th. Morgan Stanley cut their price objective on BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company lowered their target price on BP from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating, five have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.76.

BP Trading Down 0.3 %

Shares of BP stock opened at $31.70 on Friday. The company has a 50-day moving average of $29.59 and a two-hundred day moving average of $31.87. The firm has a market cap of $84.70 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.20 and a beta of 0.64. BP has a 1-year low of $27.82 and a 1-year high of $40.40. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 0.94.

BP (NYSE:BP) last announced its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. BP had a return on equity of 12.91% and a net margin of 1.36%. The company had revenue of $47.25 billion for the quarter, compared to analyst estimates of $52.05 billion. During the same quarter in the previous year, the company earned $1.15 earnings per share. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. On average, analysts predict that BP will post 3.45 EPS for the current year.

BP Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 8th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.92 dividend on an annualized basis and a yield of 6.06%. BP’s payout ratio is currently 200.00%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Avior Wealth Management LLC boosted its position in shares of BP by 83.3% in the 4th quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company’s stock valued at $1,577,000 after purchasing an additional 24,252 shares during the period. Integrated Investment Consultants LLC boosted its holdings in shares of BP by 6.8% in the fourth quarter. Integrated Investment Consultants LLC now owns 29,165 shares of the oil and gas exploration company’s stock valued at $862,000 after acquiring an additional 1,860 shares during the period. Arkadios Wealth Advisors grew its position in shares of BP by 3.0% during the fourth quarter. Arkadios Wealth Advisors now owns 47,003 shares of the oil and gas exploration company’s stock worth $1,389,000 after acquiring an additional 1,387 shares during the last quarter. Butensky & Cohen Financial Security Inc. increased its holdings in shares of BP by 0.3% in the 4th 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 acquiring an additional 358 shares during the period. Finally, Wedge Capital Management L L P NC boosted its stake in BP by 2.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 660,538 shares of the oil and gas exploration company’s stock worth $19,526,000 after purchasing an additional 14,436 shares during the period. 11.01% of the stock is 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.