BP (NYSE:BP) Given New $43.00 Price Target at Piper Sandler

BP (NYSE:BP) had its price target boosted by Piper Sandler from $40.00 to $43.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group upgraded shares of BP from a hold rating to a buy rating and boosted their price objective for the company from $38.60 to $42.30 in a research report on Monday, March 4th. TD Securities boosted their target price on shares of BP from $41.00 to $43.00 and gave the stock a buy rating in a research note on Wednesday, February 7th. Scotiabank boosted their target price on shares of BP from $45.00 to $47.00 and gave the stock a sector outperform rating in a research note on Thursday, April 11th. Erste Group Bank raised shares of BP from a hold rating to a buy rating in a research note on Wednesday, April 3rd. Finally, Raymond James boosted their target price on shares of BP from $42.00 to $45.00 and gave the stock an outperform rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of $43.72.

BP Stock Down 1.2 %

NYSE BP opened at $37.92 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57. BP has a 1-year low of $33.52 and a 1-year high of $40.84. The company has a 50 day moving average of $37.13 and a 200-day moving average of $36.47. The company has a market cap of $106.79 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 1.97 and a beta of 0.68.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, February 6th. The oil and gas exploration company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.11. BP had a net margin of 7.15% and a return on equity of 16.00%. The company had revenue of $52.14 billion during the quarter, compared to the consensus estimate of $53.14 billion. During the same period in the previous year, the business earned $1.59 earnings per share. The firm’s quarterly revenue was down 24.7% on a year-over-year basis. On average, equities research analysts expect that BP will post 4.89 earnings per share for the current fiscal year.

BP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, February 16th were paid a $0.4362 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.74 annualized dividend and a dividend yield of 4.60%. BP’s dividend payout ratio is 33.79%.

Institutional Trading of BP

Several institutional investors have recently modified their holdings of the business. BKM Wealth Management LLC bought a new stake in BP during the fourth quarter valued at $123,000. TIAA Trust National Association bought a new stake in BP during the third quarter valued at $1,122,000. Anchor Investment Management LLC bought a new stake in BP during the fourth quarter valued at $70,000. Monograph Wealth Advisors LLC bought a new stake in BP during the third quarter valued at $1,163,000. Finally, Kingswood Wealth Advisors LLC acquired a new position in shares of BP during the fourth quarter valued at about $290,000. Institutional investors own 11.01% of the company’s stock.

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.