BP (BP) Rating Reiterated by Scotiabank

BP (NYSE:BP)‘s stock had its “buy” rating reaffirmed by analysts at Scotiabank in a research note issued to investors on Monday. They currently have a $47.00 price target on the oil and gas exploration company’s stock. Scotiabank’s price objective indicates a potential upside of 12.60% from the stock’s previous close.

Several other brokerages also recently weighed in on BP. Zacks Investment Research downgraded BP from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 26th. TheStreet downgraded BP from a “b” rating to a “c+” rating in a research report on Tuesday, February 13th. Citigroup raised BP from a “neutral” rating to a “buy” rating in a research report on Thursday, March 29th. Societe Generale raised BP from a “hold” rating to a “buy” rating in a research report on Monday, February 12th. Finally, ValuEngine raised BP from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $40.92.

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BP stock traded down $0.02 during trading on Monday, reaching $41.74. 5,560,619 shares of the stock traded hands, compared to its average volume of 6,224,654. BP has a 52-week low of $33.83 and a 52-week high of $44.62. The company has a current ratio of 1.16, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. The company has a market cap of $138,211.81, a PE ratio of 22.22, a price-to-earnings-growth ratio of 0.82 and a beta of 0.91.

BP (NYSE:BP) last issued its earnings results on Tuesday, February 6th. The oil and gas exploration company reported $0.64 earnings per share 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 company had revenue of $67.82 billion during the quarter, compared to analysts’ expectations of $56.85 billion. During the same period in the previous year, the company earned $0.13 EPS. BP’s quarterly revenue was up 33.0% on a year-over-year basis. equities analysts forecast that BP will post 2.73 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of BP. Renaissance Technologies LLC boosted its holdings in BP by 119.2% in the fourth quarter. Renaissance Technologies LLC now owns 5,801,144 shares of the oil and gas exploration company’s stock valued at $243,822,000 after purchasing an additional 3,155,200 shares during the last quarter. Deutsche Bank AG boosted its holdings in BP by 91.3% in the fourth quarter. Deutsche Bank AG now owns 4,270,553 shares of the oil and gas exploration company’s stock valued at $179,488,000 after purchasing an additional 2,037,709 shares during the last quarter. Virtus Fund Advisers LLC purchased a new position in BP in the fourth quarter valued at about $71,406,000. Acadian Asset Management LLC boosted its holdings in BP by 17.3% in the fourth quarter. Acadian Asset Management LLC now owns 6,444,903 shares of the oil and gas exploration company’s stock valued at $270,881,000 after purchasing an additional 950,489 shares during the last quarter. Finally, Delek Group Ltd. purchased a new position in BP in the fourth quarter valued at about $26,992,000. 10.18% of the stock is owned by hedge funds and other institutional investors.

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About BP

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.

Analyst Recommendations for BP (NYSE:BP)

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