BP (NYSE:BP) Upgraded to Strong-Buy at Zacks Research

BP (NYSE:BP) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

BP has been the subject of a number of other research reports. Wells Fargo & Company reduced their price target on BP from $54.00 to $48.00 and set an “equal weight” rating for the company in a report on Wednesday, August 5th. Freedom Capital upgraded BP from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 6th. TD Cowen lifted their price target on shares of BP from $40.00 to $41.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded BP from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. Finally, Royal Bank Of Canada raised BP from a “sector perform” rating to an “outperform” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $46.59.

BP Trading Up 1.8%

NYSE BP opened at $45.68 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.27. BP has a one year low of $32.72 and a one year high of $48.27. The company’s 50 day moving average price is $42.40 and its 200 day moving average price is $42.89. The firm has a market capitalization of $119.65 billion, a price-to-earnings ratio of 22.28, a PEG ratio of 0.57 and a beta of 0.15.

BP (NYSE:BP) last issued its earnings results on Monday, August 3rd. The oil and gas exploration company reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.35. BP had a net margin of 2.49% and a return on equity of 16.63%. The business had revenue of $69.11 billion for the quarter, compared to the consensus estimate of $57.89 billion. During the same quarter last year, the firm posted $0.90 EPS. The business’s revenue for the quarter was up 106.1% compared to the same quarter last year. On average, sell-side analysts predict that BP will post 6.45 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its stake in BP by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 39,146 shares of the oil and gas exploration company’s stock worth $1,172,000 after buying an additional 1,588 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of BP by 7.4% during the second quarter. Gamco Investors INC. ET AL now owns 8,295 shares of the oil and gas exploration company’s stock valued at $248,000 after acquiring an additional 568 shares during the period. IHT Wealth Management LLC increased its holdings in shares of BP by 3.3% in the 2nd quarter. IHT Wealth Management LLC now owns 12,513 shares of the oil and gas exploration company’s stock worth $375,000 after acquiring an additional 398 shares during the period. WFA of San Diego LLC bought a new stake in BP in the 2nd quarter valued at about $46,000. Finally, Brown Brothers Harriman & Co. boosted its stake in BP by 7.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 5,738 shares of the oil and gas exploration company’s stock valued at $198,000 after purchasing an additional 374 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

More BP News

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP was added to several Zacks Rank #1 (Strong Buy) lists covering value, growth, momentum and income stocks. The ratings reflect favorable earnings-estimate trends and BP’s relatively attractive valuation, supporting continued investor interest. New Strong Buy Stocks for September 9th
• Positive Sentiment: Analysts highlighted BP as an appealing way to gain exposure to high oil prices without paying a premium valuation. Its recent earnings beat—with quarterly EPS of $2.22 versus the $1.87 consensus—and sharply higher revenue provide additional support for the bullish view. Why BP Is One of the Best Oil Stocks to Buy Right Now
• Positive Sentiment: BP and SOCAR received approval to advance drilling activity in Uzbekistan, adding a potential longer-term exploration and production growth opportunity. BP and Socar get green light for Uzbekistan drilling push
• Neutral Sentiment: Shell agreed to acquire a 30% interest in Conifer, a BP-operated deepwater prospect in the Gulf of Mexico. The transaction may validate BP’s asset and reduce its capital exposure, although comparisons emphasize Shell’s stronger cash flow and could limit BP’s relative appeal. Could Shell’s Superior Cash Flow Make It a Better Bet Than BP?
• Neutral Sentiment: Potential buyers are reportedly evaluating BP’s North Sea operations. A sale could generate cash and simplify the portfolio, but reports remain preliminary and the value and timing of any transaction are uncertain. BP North Sea Operations Garner Interest From Potential Buyers
• Negative Sentiment: A labor lockout at BP’s Whiting refinery is approaching six months, prolonging disruption and increasing the risk of higher costs, lost production or an extended dispute. BP Whiting refinery lockout nears six months

About BP

BP p.l.c. is a global integrated energy company headquartered in London, England. Its operations span the energy value chain, including exploration and production of oil and natural gas, refining, fuel marketing, energy trading and transportation. BP also produces and markets lubricants through its Castrol brand and supplies fuels through retail networks operating under brands such as BP, Aral and ampm.

The company has operations and business relationships across multiple regions, including the Americas, Europe, the Middle East, Africa and Asia-Pacific.