BP (BP) Hits New 52-Week High at $42.74

Shares of BP plc (NYSE:BP) reached a new 52-week high during trading on Wednesday . The company traded as high as $42.74 and last traded at $42.38, with a volume of 4204900 shares traded. The stock had previously closed at $42.03.

BP has been the subject of several research reports. Zacks Investment Research cut shares of BP from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Vetr cut shares of BP from a “buy” rating to a “hold” rating and set a $41.28 price objective for the company. in a research note on Tuesday, December 12th. TheStreet raised shares of BP from a “c” rating to a “b” rating in a research note on Wednesday, November 8th. Scotiabank reiterated a “buy” rating and issued a $39.00 target price on shares of BP in a report on Wednesday, November 1st. Finally, Evercore ISI boosted their target price on shares of BP from $43.00 to $48.00 and gave the company an “outperform” rating in a report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. BP presently has a consensus rating of “Hold” and an average price target of $38.63.

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.18 and a quick ratio of 0.88. The firm has a market cap of $141,230.00, a price-to-earnings ratio of 36.79, a P/E/G ratio of 0.90 and a beta of 0.97.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Friday, November 10th were issued a $0.60 dividend. This is a positive change from BP’s previous quarterly dividend of $0.60. This represents a $2.40 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend was Thursday, November 9th. BP’s dividend payout ratio is currently 203.42%.

Several hedge funds have recently modified their holdings of BP. Vestor Capital LLC acquired a new position in shares of BP in the 2nd quarter worth approximately $116,000. Cable Hill Partners LLC lifted its holdings in shares of BP by 639.9% in the 3rd quarter. Cable Hill Partners LLC now owns 3,559 shares of the oil and gas exploration company’s stock worth $137,000 after acquiring an additional 3,078 shares during the last quarter. Fieldpoint Private Securities LLC acquired a new position in shares of BP in the 3rd quarter worth approximately $151,000. Johnson Financial Group Inc. lifted its holdings in shares of BP by 1.2% in the 2nd quarter. Johnson Financial Group Inc. now owns 4,672 shares of the oil and gas exploration company’s stock worth $162,000 after acquiring an additional 55 shares during the last quarter. Finally, Beaton Management Co. Inc. acquired a new position in shares of BP in the 2nd quarter worth approximately $211,000. Hedge funds and other institutional investors own 9.96% of the company’s stock.

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BP Company Profile

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

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