BP (NYSE:BP) Stock Rating Lowered by TD Cowen

TD Cowen lowered shares of BP (NYSE:BP) from a buy rating to a hold rating in a report issued on Wednesday morning, MarketBeat.com reports. The brokerage currently has $40.00 target price on the oil and gas exploration company’s stock.

A number of other equities analysts have also commented on BP. Morgan Stanley decreased their price target on shares of BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. DZ Bank lowered shares of BP from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Piper Sandler reduced their target price on shares of BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. raised shares of BP from an “underweight” rating to a “neutral” rating in a report on Thursday, February 20th. Finally, Raymond James increased their target price on shares of BP from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, two have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.48.

BP Price Performance

Shares of NYSE:BP opened at $34.60 on Wednesday. The company’s fifty day moving average price is $32.70 and its 200-day moving average price is $31.27. The firm has a market capitalization of $92.62 billion, a price-to-earnings ratio of 432.49, a PEG ratio of 1.12 and a beta of 0.58. BP has a one year low of $27.82 and a one year high of $40.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 0.97.

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

BP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be given a $0.48 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.92 annualized dividend and a dividend yield of 5.55%. BP’s dividend payout ratio is 2,375.00%.

Institutional Investors Weigh In On BP

Institutional investors and hedge funds have recently modified their holdings of the stock. Asset Planning Inc purchased a new stake in shares of BP in the 4th quarter worth about $40,000. Bank & Trust Co lifted its position in BP by 404.8% during the 4th quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock valued at $63,000 after acquiring an additional 1,700 shares during the period. Versant Capital Management Inc lifted its position in BP by 41.0% during the 4th quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock valued at $66,000 after acquiring an additional 646 shares during the period. Anchor Investment Management LLC lifted its position in BP by 58.7% during the 3rd quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after acquiring an additional 1,154 shares during the period. Finally, Wellington Shields Capital Management LLC lifted its position in BP by 26.9% during the 4th quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company’s stock valued at $223,000 after acquiring an additional 1,600 shares during the period. 11.01% of the stock is owned by hedge funds and other institutional investors.

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.