BP (NYSE:BP) PT Lowered to $35.00

BP (NYSE:BP) had its price objective lowered by Wells Fargo & Company from $39.00 to $35.00 in a report released on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the oil and gas exploration company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 11.39% from the company’s current price.

Several other equities analysts have also weighed in on BP. Redburn Atlantic lowered shares of BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. Piper Sandler restated a “neutral” rating and issued a $43.00 price objective on shares of BP in a report on Wednesday, July 17th. Scotiabank cut their price target on shares of BP from $47.00 to $42.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Wolfe Research began coverage on shares of BP in a research report on Thursday, July 18th. They set an “outperform” rating and a $57.00 price target on the stock. Finally, Hsbc Global Res raised shares of BP to a “hold” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.73.

BP Stock Up 2.0 %

NYSE:BP opened at $31.42 on Friday. BP has a fifty-two week low of $30.52 and a fifty-two week high of $40.84. The stock has a market capitalization of $8.65 billion, a P/E ratio of 9.85, a P/E/G ratio of 4.27 and a beta of 0.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.24. The company’s 50-day simple moving average is $33.36 and its 200-day simple moving average is $35.86.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas exploration company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.92 by $0.08. BP had a net margin of 3.60% and a return on equity of 13.83%. The firm had revenue of $47.30 billion during the quarter, compared to analyst estimates of $55.82 billion. During the same period last year, the firm posted $0.89 EPS. BP’s revenue was down 2.6% on a year-over-year basis. On average, equities analysts anticipate that BP will post 3.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in BP in the 1st quarter valued at about $32,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in BP during the 2nd quarter worth $33,000. Quent Capital LLC bought a new position in BP during the 2nd quarter worth $38,000. Guardian Wealth Management Inc. grew its stake in shares of BP by 576.0% in the fourth quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 962 shares in the last quarter. Finally, Independence Bank of Kentucky lifted its holdings in shares of BP by 85.7% in the second quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company’s stock valued at $47,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.