BP (NYSE:BP) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of BP (NYSE:BP) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

Several other research analysts also recently commented on BP. Raymond James boosted their target price on BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. BNP Paribas lowered 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 report on Friday, October 11th. Morgan Stanley reduced 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, Piper Sandler cut their price target on BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Twelve research analysts have rated the stock with a hold rating, four have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.76.

BP Trading Down 1.0 %

Shares of BP stock opened at $31.14 on Tuesday. The stock has a market cap of $84.05 billion, a P/E ratio of 32.78, a price-to-earnings-growth ratio of 2.21 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 current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $29.96 and a 200 day simple moving average of $31.58.

BP (NYSE:BP) last issued its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.78 by $0.05. The company had revenue of $47.25 billion during the quarter, compared to analysts’ expectations of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.15 EPS. On average, research analysts predict that BP will post 3.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BP

Several institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of BP during the second quarter worth about $75,000. Bank & Trust Co lifted its holdings in BP by 404.8% in the 4th quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock worth $63,000 after buying an additional 1,700 shares during the period. Versant Capital Management Inc grew its position in shares of BP by 41.0% in the 4th quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock worth $66,000 after buying an additional 646 shares during the last quarter. ORG Partners LLC raised its holdings in shares of BP by 32.5% during the third quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock valued at $80,000 after acquiring an additional 621 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in BP in the third quarter worth $91,000. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

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.