BP (NYSE:BP) Downgraded by ValuEngine to “Sell”

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ValuEngine cut shares of BP (NYSE:BP) from a hold rating to a sell rating in a report released on Thursday, ValuEngine reports.

BP has been the subject of several other reports. Credit Suisse Group initiated coverage on LTC Properties in a report on Wednesday, July 10th. They issued an underperform rating and a $19.00 price objective for the company. Royal Bank of Canada initiated coverage on Robert Half International in a report on Tuesday, April 16th. They issued a sector perform rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $52.54.

Shares of BP stock opened at $39.23 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.72 and a current ratio of 1.02. The company has a market capitalization of $131.15 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 1.75 and a beta of 0.76. BP has a fifty-two week low of $36.28 and a fifty-two week high of $47.16. The company has a 50-day moving average price of $41.30.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The firm had revenue of $66.32 billion during the quarter, compared to analyst estimates of $64.85 billion. BP had a return on equity of 12.19% and a net margin of 3.26%. BP’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.13 earnings per share. On average, equities analysts anticipate that BP will post 3.16 EPS for the current year.

Several large investors have recently bought and sold shares of BP. FMR LLC grew its holdings in shares of BP by 18.6% during the first quarter. FMR LLC now owns 30,833,002 shares of the oil and gas exploration company’s stock valued at $1,348,019,000 after purchasing an additional 4,832,518 shares during the last quarter. BlackRock Inc. grew its holdings in shares of BP by 51.5% during the first quarter. BlackRock Inc. now owns 12,141,698 shares of the oil and gas exploration company’s stock valued at $530,835,000 after purchasing an additional 4,126,312 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of BP by 80.7% during the first quarter. PNC Financial Services Group Inc. now owns 3,652,922 shares of the oil and gas exploration company’s stock valued at $159,705,000 after purchasing an additional 1,631,395 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of BP by 20.9% during the first quarter. Wells Fargo & Company MN now owns 5,720,246 shares of the oil and gas exploration company’s stock valued at $250,090,000 after purchasing an additional 989,753 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in shares of BP by 208.9% during the fourth quarter. APG Asset Management N.V. now owns 1,420,960 shares of the oil and gas exploration company’s stock valued at $47,135,000 after purchasing an additional 960,963 shares during the last quarter. 11.02% of the stock is owned by institutional investors.

About BP

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for BP (NYSE:BP)

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