BP (BP) Cut to “Buy” at Vetr

Vetr downgraded shares of BP (NYSE:BP) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $44.43 target price on the oil and gas exploration company’s stock.

Other equities research analysts have also recently issued reports about the company. TheStreet cut BP from a b rating to a c+ rating in a report on Tuesday, February 13th. Zacks Investment Research lowered BP from a buy rating to a hold rating in a research report on Friday, March 9th. Piper Jaffray Companies reiterated a buy rating and issued a $51.00 price target on shares of BP in a research report on Wednesday, January 24th. Societe Generale upgraded BP from a hold rating to a buy rating in a research report on Monday, February 12th. Finally, ValuEngine upgraded BP from a hold rating to a buy rating in a research report on Thursday, March 1st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $40.26.

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Shares of BP stock opened at $39.12 on Wednesday. BP has a twelve month low of $33.57 and a twelve month high of $44.62. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 0.86. The stock has a market capitalization of $132,817.06, a PE ratio of 38.35, a PEG ratio of 0.79 and a beta of 0.98.

BP (NYSE:BP) last issued its earnings results on Tuesday, February 6th. The oil and gas exploration company reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). BP had a return on equity of 6.19% and a net margin of 1.39%. The firm had revenue of $67.82 billion during the quarter, compared to the consensus estimate of $56.85 billion. During the same period last year, the firm posted $0.13 earnings per share. The company’s revenue for the quarter was up 33.0% compared to the same quarter last year. research analysts anticipate that BP will post 2.73 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, February 16th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $2.40 annualized dividend and a dividend yield of 6.13%. BP’s dividend payout ratio (DPR) is presently 233.34%.

Several large investors have recently made changes to their positions in the business. Stock Yards Bank & Trust Co. boosted its position in shares of BP by 11.1% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 11,718 shares of the oil and gas exploration company’s stock valued at $493,000 after buying an additional 1,167 shares during the period. NEXT Financial Group Inc boosted its position in shares of BP by 6.4% during the fourth quarter. NEXT Financial Group Inc now owns 20,313 shares of the oil and gas exploration company’s stock valued at $854,000 after buying an additional 1,225 shares during the period. Glenview Trust Co boosted its position in shares of BP by 5.4% during the fourth quarter. Glenview Trust Co now owns 25,283 shares of the oil and gas exploration company’s stock valued at $1,063,000 after buying an additional 1,300 shares during the period. Anchor Capital Advisors LLC boosted its position in shares of BP by 4.2% during the fourth quarter. Anchor Capital Advisors LLC now owns 32,400 shares of the oil and gas exploration company’s stock valued at $1,362,000 after buying an additional 1,320 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its position in shares of BP by 5.9% during the fourth quarter. Segall Bryant & Hamill LLC now owns 26,244 shares of the oil and gas exploration company’s stock valued at $1,103,000 after buying an additional 1,469 shares during the period. Institutional investors and hedge funds own 10.17% 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for BP (NYSE:BP)

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