BP (NYSE:BP) Stock Rating Lowered by StockNews.com

BP (NYSE:BP) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

BP has been the subject of a number of other research reports. BNP Paribas downgraded shares of BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. Wells Fargo & Company reduced their price objective on BP from $33.00 to $31.00 and set an “equal weight” rating for the company in a research report on Monday, December 9th. Redburn Atlantic lowered BP from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 24th. Piper Sandler reduced their price target on BP from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, The Goldman Sachs Group raised shares of BP to a “strong-buy” rating in a research report on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating, four have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.10.

BP Stock Up 0.4 %

Shares of BP traded up $0.11 during mid-day trading on Friday, reaching $28.96. The company’s stock had a trading volume of 6,753,069 shares, compared to its average volume of 8,682,090. The company has a market cap of $77.38 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 2.13 and a beta of 0.64. The business has a fifty day moving average of $29.49 and a 200 day moving average of $32.34. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. BP has a 1 year low of $27.82 and a 1 year high of $40.40.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. The firm had revenue of $47.25 billion during the quarter, compared to analyst estimates of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.15 EPS. As a group, analysts forecast that BP will post 3.55 earnings per share for the current fiscal year.

Institutional Trading of BP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC bought a new stake in BP in the 2nd quarter valued at $2,620,000. Graypoint LLC lifted its stake in shares of BP by 11.7% in the second quarter. Graypoint LLC now owns 8,261 shares of the oil and gas exploration company’s stock valued at $298,000 after buying an additional 865 shares during the period. Nilsine Partners LLC increased its stake in BP by 6.8% during the second quarter. Nilsine Partners LLC now owns 20,388 shares of the oil and gas exploration company’s stock valued at $736,000 after acquiring an additional 1,301 shares during the period. Summit Financial LLC lifted its position in shares of BP by 101.5% in the 2nd quarter. Summit Financial LLC now owns 14,654 shares of the oil and gas exploration company’s stock worth $529,000 after acquiring an additional 7,383 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of BP by 2.0% during the 2nd quarter. Rhumbline Advisers now owns 29,235 shares of the oil and gas exploration company’s stock worth $1,055,000 after purchasing an additional 571 shares in the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

About BP

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.