BP (NYSE:BP) Stock Rating Upgraded by Wall Street Zen

BP (NYSE:BP) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

Several other equities research analysts have also recently issued reports on BP. Scotiabank raised their price target on shares of BP from $41.00 to $58.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. HSBC raised shares of BP from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $35.10 to $45.30 in a research report on Friday, March 20th. UBS Group upgraded shares of BP from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 15th. BNP Paribas Exane set a $57.00 target price on shares of BP and gave the stock an “outperform” rating in a research note on Friday, April 17th. Finally, Royal Bank Of Canada upgraded BP from a “sector perform” rating to an “outperform” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, BP has a consensus rating of “Moderate Buy” and a consensus price target of $46.64.

BP Stock Performance

NYSE BP opened at $41.91 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.68. BP has a fifty-two week low of $31.58 and a fifty-two week high of $48.27. The business has a fifty day moving average of $41.39 and a 200-day moving average of $41.09. The stock has a market cap of $109.77 billion, a price-to-earnings ratio of 34.92, a price-to-earnings-growth ratio of 0.77 and a beta of 0.17.

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, beating analysts’ consensus estimates of $1.00 by $0.24. BP had a return on equity of 12.06% and a net margin of 1.62%.The business had revenue of $52.26 billion for the quarter, compared to analyst estimates 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. As a group, analysts predict that BP will post 5.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BP

A number of institutional investors have recently bought and sold shares of BP. Financial Life Planners purchased a new position in BP during the first quarter worth approximately $39,000. YANKCOM Partnership grew its stake in shares of BP by 1,068.3% during the 4th quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company’s stock valued at $33,000 after buying an additional 876 shares during the period. Triumph Capital Management acquired a new stake in shares of BP during the 3rd quarter worth $43,000. LRI Investments LLC raised its position in shares of BP by 76.2% in the 4th quarter. LRI Investments LLC now owns 1,276 shares of the oil and gas exploration company’s stock worth $44,000 after buying an additional 552 shares during the period. Finally, Aventura Private Wealth LLC acquired a new position in BP in the fourth quarter valued at $47,000. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

Key BP News

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP is expected to announce billions of dollars of new investments in Iraq alongside ConocoPhillips, a move that could expand BP’s upstream footprint and support long-term production growth. BP, ConocoPhillips to back Iraq with major investment as U.S. seeks to cut Iran’s energy hold
• Positive Sentiment: Citi says BP’s biggest turnaround opportunity is in reshaping its upstream oil and gas business, reinforcing the view that the company is moving away from its prior renewables-heavy strategy. BP’s big opportunity is in its upstream oil and gas business – analyst
• Positive Sentiment: BP and ConocoPhillips are also tied to a broader redevelopment effort in Iraq’s Kirkuk oilfields, adding another upstream catalyst for BP. ConocoPhillips to buy 42% stake in BP unit tied to Iraq’s Kirkuk oilfields
• Neutral Sentiment: BP is shutting down BP Ventures and selling most minority holdings in its venture portfolio, a portfolio-optimization and deleveraging move that may improve focus but also signals a pullback from some growth bets. Oil giant BP shutters its corporate venture arm after 20 years
• Neutral Sentiment: Erste Group trimmed its FY2027 EPS estimate for BP slightly, which is a mild headwind but not a major change versus the broader earnings outlook. BP, ConocoPhillips to back Iraq with major investments, CNBC reports
• Negative Sentiment: The lower earnings estimate adds some caution around BP’s near-term profit trajectory, even though it remains below consensus only modestly. BP, ConocoPhillips to back Iraq with major investments, CNBC reports

BP Company Profile

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.