BP p.l.c. (BP) Price Target Raised to $48.00

BP p.l.c. (NYSE:BP) had its price objective hoisted by Evercore ISI from $43.00 to $48.00 in a research note released on Wednesday, November 1st, The Fly reports. Evercore ISI currently has an outperform rating on the oil and gas exploration company’s stock.

BP has been the topic of a number of other reports. Piper Jaffray Companies set a $39.00 price target on shares of BP p.l.c. and gave the stock a buy rating in a research report on Friday, August 25th. BidaskClub downgraded shares of BP p.l.c. from a sell rating to a strong sell rating in a research report on Thursday, August 17th. Vetr downgraded shares of BP p.l.c. from a buy rating to a hold rating and set a $40.67 price objective on the stock. in a research report on Monday, October 30th. Scotiabank set a $37.00 price objective on shares of BP p.l.c. and gave the company a buy rating in a research report on Tuesday, August 1st. Finally, Cowen and Company reissued a hold rating and set a $39.00 target price on shares of BP p.l.c. in a research note on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. BP p.l.c. has a consensus rating of Hold and a consensus target price of $38.66.

BP p.l.c. (BP) opened at $39.00 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. BP p.l.c. has a 52 week low of $33.10 and a 52 week high of $41.55. The company has a market cap of $128,910.00, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 1.11 and a beta of 0.98.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, November 10th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from BP p.l.c.’s previous quarterly dividend of $0.60. BP p.l.c.’s payout ratio is currently 203.42%.

Several large investors have recently modified their holdings of BP. BlackRock Inc. boosted its stake in shares of BP p.l.c. by 16,222.8% in the 1st quarter. BlackRock Inc. now owns 11,803,811 shares of the oil and gas exploration company’s stock valued at $407,466,000 after purchasing an additional 11,731,496 shares in the last quarter. Morgan Stanley lifted its position in BP p.l.c. by 11.2% during the 1st quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock worth $213,544,000 after buying an additional 623,612 shares in the last quarter. State Street Corp lifted its position in BP p.l.c. by 2.0% during the 1st quarter. State Street Corp now owns 31,138,116 shares of the oil and gas exploration company’s stock worth $1,074,889,000 after buying an additional 614,408 shares in the last quarter. Global Financial Private Capital LLC acquired a new position in BP p.l.c. during the 1st quarter worth about $16,192,000. Finally, Parametric Portfolio Associates LLC lifted its position in BP p.l.c. by 13.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,883,066 shares of the oil and gas exploration company’s stock worth $99,898,000 after buying an additional 338,581 shares in the last quarter. Institutional investors own 10.00% of the company’s stock.

About BP p.l.c.

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

The Fly

Analyst Recommendations for BP p.l.c. (NYSE:BP)

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