BP (NYSE:BP) Earns “Sector Perform” Rating from Royal Bank of Canada

BP (NYSE:BP)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports.

Other equities analysts have also issued research reports about the company. Piper Sandler lowered their price objective on BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Wells Fargo & Company dropped their price target on BP from $33.00 to $31.00 and set an “equal weight” rating for the company in a research note on Monday, December 9th. StockNews.com raised shares of BP from a “hold” rating to a “buy” rating in a report on Friday, January 10th. Scotiabank downgraded shares of BP from a “sector outperform” rating to a “sector perform” rating and cut their price target for the stock from $42.00 to $36.00 in a report on Thursday, October 10th. Finally, The Goldman Sachs Group upgraded shares of BP to a “strong-buy” rating in a research report on Friday, October 11th. Eleven analysts have rated the stock with a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.76.

BP Trading Up 0.7 %

Shares of BP stock opened at $31.31 on Tuesday. BP has a 12-month low of $27.82 and a 12-month high of $40.40. The firm has a 50 day moving average price of $29.54 and a two-hundred day moving average price of $31.87. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $83.66 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.64.

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

Hedge Funds Weigh In On BP

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Investment Consultants LLC lifted its holdings in BP by 6.8% in the fourth quarter. Integrated Investment Consultants LLC now owns 29,165 shares of the oil and gas exploration company’s stock valued at $862,000 after buying an additional 1,860 shares during the period. Arkadios Wealth Advisors lifted its stake in shares of BP by 3.0% in the 4th quarter. Arkadios Wealth Advisors now owns 47,003 shares of the oil and gas exploration company’s stock valued at $1,389,000 after purchasing an additional 1,387 shares during the period. Butensky & Cohen Financial Security Inc. boosted its position in shares of BP by 0.3% during the 4th 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 purchasing an additional 358 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in BP by 2.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 660,538 shares of the oil and gas exploration company’s stock worth $19,526,000 after purchasing an additional 14,436 shares in the last quarter. Finally, Winch Advisory Services LLC lifted its stake in BP by 18.7% in the fourth quarter. Winch Advisory Services LLC now owns 12,772 shares of the oil and gas exploration company’s stock valued at $378,000 after buying an additional 2,011 shares during the period. 11.01% of the stock is owned by institutional investors and hedge funds.

BP Company Profile

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.