BP p.l.c. (NYSE:BP) Stock Has Consensus Price Target of $49.44 According to Brokerages

Shares of BP p.l.c. (NYSE:BP) have received an average rating of “Moderate Buy” from the twenty-five analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $49.90.

A number of research analysts recently weighed in on BP shares. Morgan Stanley reissued an “overweight” rating on shares of BP in a research note on Friday, September 4th. Oppenheimer began coverage on shares of BP in a report on Thursday, October 1st. They set an “outperform” rating for the company. TD Cowen raised their target price on shares of BP from $47.00 to $49.00 and gave the company a “hold” rating in a research note on Tuesday, October 20th. UBS Group lowered shares of BP from a “buy” rating to a “hold” rating in a research report on Thursday, October 1st. Finally, Mizuho increased their target price on BP from $53.00 to $56.00 and gave the company an “outperform” rating in a research note on Monday, October 5th.

BP Stock Performance

Shares of BP opened at $47.58 on Friday. The company’s fifty day moving average is $46.10 and its 200-day moving average is $43.02. BP has a 12 month low of $33.22 and a 12 month high of $51.49. The firm has a market cap of $124.64 billion, a price-to-earnings ratio of 6.54, a price-to-earnings-growth ratio of 0.42 and a beta of 0.16. The company has a quick ratio of 0.95, a current ratio of 1.29 and a debt-to-equity ratio of 0.62.

BP (NYSE:BP) last released its quarterly earnings data on Friday, October 30th. The oil and gas exploration company reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $0.60. The business had revenue of $68.40 billion during the quarter, compared to analyst estimates of $63.14 billion. BP had a net margin of 3.74% and a return on equity of 24.67%. BP’s quarterly revenue was up 41.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 EPS. Equities analysts expect that BP will post 8.27 EPS for the current fiscal year.

BP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 13th will be given a $0.5196 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Friday, November 13th. BP’s dividend payout ratio is currently 60.59%.

Key BP News

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP completed the sale of a 65% stake in Castrol to Stonepeak, generating about $6 billion for BP and supporting its balance-sheet repair. The company also highlighted $8.4 billion in debt reduction and cost savings. BP Completes $6 Billion Castrol Sale as Stonepeak Takes Control BP Q3 Earnings Call Highlights Balance Sheet and Strategic Reset
• Positive Sentiment: BP Pulse’s more than 850 U.S. fast chargers are becoming easier to find and use through ChargeHub app roaming integration. The added convenience could support charger use, though the financial impact is not yet clear. bp pulse makes 850+ EV fast chargers easier to use in the US
• Positive Sentiment: A Zacks article included BP among four value-oriented stocks with potential for earnings growth, while RBC raised its price target and maintained an Outperform rating. 4 GARP Stocks to Buy Now as Volatility Fuels Value vs. Growth Debate BP Stock Gets Slew Of Price Target Hikes
• Neutral Sentiment: BP retains a minority interest in Castrol after selling control, so the deal adds cash and reduces exposure but also gives up majority ownership of the business. Stonepeak completes acquisition of 65% Castrol stake from BP
• Negative Sentiment: BP’s earnings-call coverage cited remaining liabilities and expected fourth-quarter headwinds as risks to its recovery. Separately, an industry report noted declining c-store trips amid portfolio restructuring, a potential challenge for BP’s retail operations. BP Q3 Earnings Call Highlights Balance Sheet and Strategic Reset How 3 energy companies are managing their c-store portfolios

Hedge Funds Weigh In On BP

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its stake in BP by 290.2% in the second quarter. Van ECK Associates Corp now owns 2,049,151 shares of the oil and gas exploration company’s stock valued at $75,716,000 after buying an additional 1,524,048 shares during the period. Alyeska Investment Group L.P. lifted its holdings in shares of BP by 48.8% in the second quarter. Alyeska Investment Group L.P. now owns 2,830,923 shares of the oil and gas exploration company’s stock valued at $104,603,000 after purchasing an additional 928,617 shares in the last quarter. Kahn Brothers Group Inc. acquired a new position in shares of BP during the second quarter worth about $23,094,000. Public Employees Retirement System of Ohio bought a new position in shares of BP during the first quarter worth about $28,136,000. Finally, Readystate Asset Management LP grew its holdings in shares of BP by 322.4% during the second quarter. Readystate Asset Management LP now owns 619,670 shares of the oil and gas exploration company’s stock worth $22,897,000 after buying an additional 472,974 shares in the last quarter. Institutional investors own 11.01% of the company’s stock.

BP Company Profile

BP p.l.c. is a global integrated energy company headquartered in London, United Kingdom. Its operations span the exploration, development and production of oil and natural gas, as well as the processing, refining, transportation and marketing of energy products.

Through its businesses, BP supplies fuels for road transportation, aviation and marine use, along with lubricants marketed under the Castrol brand. The company also operates retail fuel and convenience locations and provides energy products and services to commercial and industrial customers.

BP has expanded its activities beyond traditional hydrocarbons to include lower-carbon businesses such as renewable power, bioenergy, electric-vehicle charging and hydrogen.