BP (NYSE:BP) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of BP (NYSE:BPFree Report) from an equal weight rating to an overweight rating in a research note published on Tuesday morning, MarketBeat reports. They currently have $49.40 target price on the oil and gas exploration company’s stock.

A number of other brokerages also recently weighed in on BP. Freedom Capital downgraded BP from a “hold” rating to a “strong sell” rating in a report on Thursday, February 12th. Piper Sandler boosted their price objective on shares of BP from $44.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Jefferies Financial Group reiterated a “hold” rating on shares of BP in a research note on Thursday, January 8th. Evercore set a $38.00 target price on shares of BP and gave the stock an “in-line” rating in a research report on Tuesday, January 6th. Finally, TD Cowen decreased their target price on shares of BP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $40.18.

View Our Latest Research Report on BP

BP Stock Performance

Shares of BP stock opened at $46.20 on Tuesday. BP has a 12 month low of $25.22 and a 12 month high of $46.79. The company has a quick ratio of 0.98, a current ratio of 1.26 and a debt-to-equity ratio of 0.74. The stock has a market cap of $121.13 billion, a PE ratio of -4,614.89, a price-to-earnings-growth ratio of 1.33 and a beta of 0.31. The business has a fifty day simple moving average of $39.45 and a 200-day simple moving average of $36.52.

BP (NYSE:BPGet Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The oil and gas exploration company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. BP had a return on equity of 9.68% and a net margin of 0.03%.The firm had revenue of $47.38 billion for the quarter, compared to analyst estimates of $42.19 billion. During the same period in the previous year, the firm earned $0.44 earnings per share. BP’s quarterly revenue was up 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that BP will post 3.53 EPS for the current fiscal year.

BP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 20th will be issued a $0.4992 dividend. The ex-dividend date is Friday, February 20th. This represents a $2.00 dividend on an annualized basis and a yield of 4.3%. BP’s dividend payout ratio is currently -19,800.00%.

Institutional Trading of BP

Institutional investors have recently added to or reduced their stakes in the business. Strategic Advocates LLC bought a new position in BP in the 3rd quarter worth $25,000. Heartwood Wealth Advisors LLC bought a new stake in BP during the third quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of BP in the second quarter valued at about $27,000. YANKCOM Partnership increased its stake in shares of BP by 1,068.3% in the fourth quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company’s stock worth $33,000 after purchasing an additional 876 shares during the period. Finally, Triumph Capital Management acquired a new position in shares of BP during the 3rd quarter worth about $43,000. 11.01% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about BP

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BP Company Profile

(Get Free Report)

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.

Further Reading

Analyst Recommendations for BP (NYSE:BP)

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