BP p.l.c. (NYSE:BP) Receives $46.14 Average Target Price from Analysts

BP p.l.c. (NYSE:BP) has been given an average rating of “Moderate Buy” by the twenty-four analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, eleven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $46.1417.

Several research firms have weighed in on BP. Weiss Ratings restated a “hold (c-)” rating on shares of BP in a report on Thursday, June 18th. Argus upgraded BP from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Monday, May 11th. HSBC upgraded BP from a “reduce” rating to a “hold” rating and raised their target price for the stock from $35.10 to $45.30 in a research note on Friday, March 20th. Morgan Stanley raised shares of BP from an “equal weight” rating to an “overweight” rating and set a $49.40 target price on the stock in a research note on Tuesday, March 24th. Finally, Scotiabank increased their target price on shares of BP from $41.00 to $58.00 and gave the company a “sector outperform” rating in a research report on Wednesday, April 22nd.

More BP News

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP finalized a Technical Services Contract with India’s ONGC, under which BP will support ONGC’s Western Offshore Basin operations. The deal adds another international service and partnership opportunity for BP’s upstream business. BP p.l.c. (BP) Finalizes Technical Services Contract with ONGC
• Positive Sentiment: BP also disclosed that it acquired a 10% stake in the Bab Gas Cap project in the UAE, reinforcing its presence in a major gas growth area and supporting longer-term production potential. BP Acquires 10% Stake in Bab Gas Cap Project in UAE
• Positive Sentiment: Analysts noted BP’s deleveraging efforts, including asset sales, cost cuts, and capital discipline, which could strengthen the company’s financial position over time. Here’s How BP Enhances Financial Strength With Deleveraging Efforts
• Neutral Sentiment: BP was highlighted as a potential beneficiary of a favorable integrated-energy industry backdrop, with solid oil prices and a stable business model cited as supportive factors. 3 Integrated Energy Stocks to Gain From Promising Industry Trend
• Negative Sentiment: BP’s deputy CEO Carol Howle is set to retire later this year, and her role will not be replaced, adding to recent management turnover and raising concerns about leadership stability. BP deputy CEO Carol Howle retiring, role not being replaced
• Negative Sentiment: Broader energy-sector weakness also pressured BP as Morgan Stanley cut its oil forecast, warning of a possible global supply glut that could weigh on crude prices and energy stocks. BP, Shell, Chevron shares on edge as Morgan Stanley slashes oil forecast

Institutional Trading of BP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in shares of BP in the third quarter valued at approximately $1,352,000. Gabelli Funds LLC lifted its position in BP by 6.0% during the fourth quarter. Gabelli Funds LLC now owns 392,400 shares of the oil and gas exploration company’s stock valued at $13,628,000 after buying an additional 22,100 shares in the last quarter. Sound Shore Management Inc. CT purchased a new stake in BP during the fourth quarter worth approximately $67,890,000. Milford Funds Ltd. acquired a new stake in shares of BP in the fourth quarter worth $8,335,000. Finally, Winning Points Advisors LLC acquired a new position in shares of BP during the 4th quarter valued at $659,000. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Trading Down 2.2%

NYSE:BP opened at $36.13 on Monday. BP has a one year low of $29.99 and a one year high of $48.27. The business has a fifty day moving average price of $42.90 and a 200-day moving average price of $40.65. The firm has a market capitalization of $94.61 billion, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 0.67 and a beta of 0.17. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.22 and a quick ratio of 0.87.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.00 by $0.24. BP had a return on equity of 12.06% and a net margin of 1.62%.The firm had revenue of $52.26 billion for the quarter, compared to the consensus estimate of $48.50 billion. During the same quarter last year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that BP will post 5.24 EPS for the current year.

BP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, May 15th were paid a $0.4992 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.00 annualized dividend and a dividend yield of 5.5%. BP’s dividend payout ratio (DPR) is presently 165.00%.

About BP

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.