BP (NYSE:BP) Upgraded at Erste Group Bank

BP (NYSE:BPGet Free Report) was upgraded by investment analysts at Erste Group Bank from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Benzinga reports.

A number of other equities research analysts also recently commented on the company. Scotiabank lifted their target price on BP from $41.00 to $45.00 and gave the stock a “sector outperform” rating in a report on Wednesday, February 7th. Piper Sandler lifted their target price on BP from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, March 14th. TD Securities lifted their target price on BP from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Jefferies Financial Group raised BP from a “hold” rating to a “buy” rating and lifted their target price for the stock from $38.60 to $42.30 in a report on Monday, March 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $42.66.

Read Our Latest Report on BP

BP Stock Up 0.8 %

NYSE BP traded up $0.29 during trading on Wednesday, hitting $38.94. The company’s stock had a trading volume of 6,087,737 shares, compared to its average volume of 8,612,193. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.94. The company has a market cap of $110.26 billion, a PE ratio of 7.64, a P/E/G ratio of 1.91 and a beta of 0.68. The business’s 50 day simple moving average is $36.29 and its 200-day simple moving average is $36.43. BP has a fifty-two week low of $33.52 and a fifty-two week high of $40.84.

BP (NYSE:BPGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The oil and gas exploration company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.11. The business had revenue of $52.14 billion during the quarter, compared to the consensus estimate of $53.14 billion. BP had a return on equity of 16.00% and a net margin of 7.15%. The company’s quarterly revenue was down 24.7% on a year-over-year basis. During the same quarter last year, the company earned $1.59 earnings per share. On average, equities analysts anticipate that BP will post 4.96 EPS for the current fiscal year.

Institutional Trading of BP

Several large investors have recently made changes to their positions in BP. Lazard Asset Management LLC boosted its stake in BP by 44.7% during the second quarter. Lazard Asset Management LLC now owns 6,943,100 shares of the oil and gas exploration company’s stock worth $245,020,000 after buying an additional 2,144,574 shares during the last quarter. Cowa LLC boosted its stake in BP by 10,274.3% during the first quarter. Cowa LLC now owns 2,070,297 shares of the oil and gas exploration company’s stock worth $609,000 after buying an additional 2,050,341 shares during the last quarter. PSquared Asset Management AG acquired a new position in BP during the fourth quarter worth $50,315,000. OLD Mission Capital LLC boosted its stake in BP by 145.5% during the fourth quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock worth $23,233,000 after buying an additional 388,931 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its stake in BP by 52.8% during the first quarter. New York State Common Retirement Fund now owns 1,085,143 shares of the oil and gas exploration company’s stock worth $41,170,000 after buying an additional 375,191 shares during the last quarter. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

About BP

(Get Free Report)

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.

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