BP (NYSE:BP) Stock Price Expected to Rise, TD Cowen Analyst Says

BP (NYSE:BP) had its price target boosted by TD Cowen from $41.00 to $47.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the oil and gas exploration company’s stock. TD Cowen’s target price indicates a potential upside of 5.00% from the stock’s current price.

BP has been the subject of a number of other reports. Zacks Research raised BP from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 8th. Morgan Stanley restated an “overweight” rating on shares of BP in a research note on Friday, September 4th. Freedom Capital raised shares of BP from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 6th. Mizuho set a $53.00 price target on shares of BP in a report on Wednesday, August 5th. Finally, HSBC raised shares of BP from a “hold” rating to a “buy” rating and upped their price target for the stock from $46.00 to $51.30 in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.52.

BP Trading Up 1.4%

BP stock traded up $0.61 during trading hours on Monday, hitting $44.76. The company had a trading volume of 967,690 shares, compared to its average volume of 10,918,063. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.27. The firm has a market cap of $117.25 billion, a P/E ratio of 21.78, a P/E/G ratio of 0.50 and a beta of 0.15. The company has a 50-day moving average price of $43.71 and a two-hundred day moving average price of $43.40. BP has a 1 year low of $32.72 and a 1 year high of $48.27.

BP (NYSE:BP) last posted its quarterly earnings results on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.35. The firm had revenue of $69.11 billion during the quarter, compared to the consensus estimate of $57.89 billion. BP had a net margin of 2.49% and a return on equity of 16.63%. The company’s revenue was up 106.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.90 earnings per share. On average, sell-side analysts anticipate that BP will post 6.74 earnings per share for the current year.

Institutional Trading of BP

Several large investors have recently bought and sold shares of the stock. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of BP during the second quarter valued at $36,000. Financial Life Planners purchased a new stake in BP in the 1st quarter worth approximately $39,000. Gill Capital Partners LLC increased its holdings in BP by 53.2% in the second quarter. Gill Capital Partners LLC now owns 1,376 shares of the oil and gas exploration company’s stock valued at $51,000 after buying an additional 478 shares in the last quarter. Community Bank N.A. increased its stake in shares of BP by 237.0% in the 2nd quarter. Community Bank N.A. now owns 1,685 shares of the oil and gas exploration company’s stock valued at $62,000 after purchasing an additional 1,185 shares in the last quarter. Finally, Trust Co. of Vermont acquired a new position in shares of BP during the 2nd quarter worth approximately $73,000. Hedge funds and other institutional investors own 11.01% of the company’s stock.

About BP

BP p.l.c. is a global integrated energy company headquartered in London, England. Its operations span the energy value chain, including exploration and production of oil and natural gas, refining, fuel marketing, energy trading and transportation. BP also produces and markets lubricants through its Castrol brand and supplies fuels through retail networks operating under brands such as BP, Aral and ampm.

The company has operations and business relationships across multiple regions, including the Americas, Europe, the Middle East, Africa and Asia-Pacific.