BP plc (NYSE:BP) Given Consensus Rating of “Buy” by Brokerages

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Shares of BP plc (NYSE:BP) have received an average recommendation of “Buy” from the thirteen analysts that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $45.89.

Several equities research analysts recently weighed in on BP shares. Grupo Santander upgraded shares of BP from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. Kepler Capital Markets reiterated a “buy” rating on shares of BP in a research note on Monday, September 16th. Piper Jaffray Companies started coverage on shares of BP in a research note on Tuesday, November 26th. They set a “buy” rating and a $47.00 price objective on the stock. Argus lowered shares of BP from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of BP in a research note on Friday, August 30th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of BP by 1.5% in the third quarter. State Street Corp now owns 28,078,342 shares of the oil and gas exploration company’s stock valued at $1,066,696,000 after purchasing an additional 409,260 shares during the period. Renaissance Technologies LLC increased its stake in shares of BP by 0.9% in the second quarter. Renaissance Technologies LLC now owns 12,277,802 shares of the oil and gas exploration company’s stock valued at $511,984,000 after purchasing an additional 111,556 shares during the period. BlackRock Inc. increased its stake in shares of BP by 0.7% in the second quarter. BlackRock Inc. now owns 12,227,888 shares of the oil and gas exploration company’s stock valued at $509,903,000 after purchasing an additional 86,190 shares during the period. Bank of America Corp DE increased its stake in shares of BP by 1.9% in the second quarter. Bank of America Corp DE now owns 12,186,512 shares of the oil and gas exploration company’s stock valued at $508,178,000 after purchasing an additional 226,891 shares during the period. Finally, Morgan Stanley increased its stake in shares of BP by 7.2% in the second quarter. Morgan Stanley now owns 10,754,114 shares of the oil and gas exploration company’s stock valued at $448,447,000 after purchasing an additional 724,078 shares during the period. Hedge funds and other institutional investors own 10.61% of the company’s stock.

Shares of BP stock opened at $37.31 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.87 and a current ratio of 1.17. BP has a one year low of $35.73 and a one year high of $45.38. The company’s 50-day simple moving average is $38.50 and its 200-day simple moving average is $39.13. The stock has a market capitalization of $127.06 billion, a price-to-earnings ratio of 9.82, a PEG ratio of 1.35 and a beta of 0.77.

BP (NYSE:BP) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.13. The firm had revenue of $69.29 billion for the quarter, compared to analyst estimates of $78.86 billion. BP had a net margin of 1.66% and a return on equity of 10.67%. As a group, research analysts forecast that BP will post 2.91 EPS for the current year.

About BP

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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