BP (NYSE:BP) Upgraded by JPMorgan Chase & Co. to “Neutral” Rating

BP (NYSE:BP) was upgraded by equities researchers at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Thursday,Finviz reports.

BP has been the subject of several other reports. Raymond James upped their price objective on BP from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. StockNews.com cut BP from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Morgan Stanley dropped their target price on BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada reiterated a “sector perform” rating on shares of BP in a research report on Tuesday, January 14th. Finally, Piper Sandler dropped their target price on BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.64.

BP Stock Down 2.1 %

Shares of NYSE BP opened at $34.56 on Thursday. The company has a market capitalization of $92.51 billion, a price-to-earnings ratio of 431.99, a price-to-earnings-growth ratio of 1.13 and a beta of 0.64. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 0.97. The business has a 50-day moving average of $31.20 and a two-hundred day moving average of $31.36. BP has a 1 year low of $27.82 and a 1 year high of $40.40.

BP (NYSE:BP) last posted its earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. On average, analysts forecast that BP will post 3.53 earnings per share for the current fiscal year.

Institutional Trading of BP

Several large investors have recently added to or reduced their stakes in BP. Butensky & Cohen Financial Security Inc. grew its stake in shares of BP by 0.3% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 129,215 shares of the oil and gas exploration company’s stock valued at $3,820,000 after acquiring an additional 358 shares in the last quarter. Sunbelt Securities Inc. grew its stake in shares of BP by 3.3% during the fourth quarter. Sunbelt Securities Inc. now owns 11,839 shares of the oil and gas exploration company’s stock valued at $344,000 after acquiring an additional 380 shares in the last quarter. Atlas Brown Inc. grew its stake in BP by 1.2% in the fourth quarter. Atlas Brown Inc. now owns 37,338 shares of the oil and gas exploration company’s stock worth $1,104,000 after purchasing an additional 437 shares in the last quarter. Horizon Investments LLC grew its stake in BP by 3.3% in the fourth quarter. Horizon Investments LLC now owns 19,753 shares of the oil and gas exploration company’s stock worth $584,000 after purchasing an additional 640 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in BP by 41.0% in the fourth quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock worth $66,000 after purchasing an additional 646 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.

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.