TheStreet Downgrades BP p.l.c. (BP) to C

BP p.l.c. (NYSE:BP) was downgraded by stock analysts at TheStreet from a “b-” rating to a “c” rating in a note issued to investors on Thursday.

Other equities research analysts also recently issued reports about the company. Argus lifted their price objective on BP p.l.c. from $36.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, June 1st. Morgan Stanley restated a “buy” rating on shares of BP p.l.c. in a research note on Thursday, April 13th. Scotiabank restated a “buy” rating and set a $37.00 price target on shares of BP p.l.c. in a research note on Friday, June 30th. Zacks Investment Research upgraded BP p.l.c. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Finally, Jefferies Group LLC set a $36.00 price target on BP p.l.c. and gave the company a “hold” rating in a research note on Wednesday, May 17th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. BP p.l.c. currently has a consensus rating of “Hold” and a consensus price target of $36.51.

BP p.l.c. (BP) opened at 34.94 on Thursday. BP p.l.c. has a 52-week low of $32.53 and a 52-week high of $38.68. The company’s 50-day moving average is $35.15 and its 200 day moving average is $35.01. The company has a market cap of $114.94 billion, a price-to-earnings ratio of 30.49 and a beta of 0.94.

BP p.l.c. (NYSE:BP) last released its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.39 by $0.18. BP p.l.c. had a return on equity of 3.64% and a net margin of 1.74%. The business had revenue of $56.51 billion during the quarter, compared to the consensus estimate of $56.09 billion. During the same quarter in the previous year, the business posted $0.23 earnings per share. BP p.l.c.’s quarterly revenue was up 21.7% compared to the same quarter last year. Equities analysts forecast that BP p.l.c. will post $1.69 earnings per share for the current fiscal year.

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Several hedge funds have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of BP p.l.c. by 0.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,878 shares of the oil and gas exploration company’s stock valued at $169,000 after buying an additional 26 shares during the period. Plancorp LLC boosted its stake in shares of BP p.l.c. by 0.3% in the first quarter. Plancorp LLC now owns 12,697 shares of the oil and gas exploration company’s stock valued at $437,000 after buying an additional 36 shares during the period. Cambridge Trust Co. boosted its stake in shares of BP p.l.c. by 0.7% in the first quarter. Cambridge Trust Co. now owns 7,283 shares of the oil and gas exploration company’s stock valued at $251,000 after buying an additional 54 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of BP p.l.c. by 1.2% in the second quarter. Johnson Financial Group Inc. now owns 4,672 shares of the oil and gas exploration company’s stock valued at $162,000 after buying an additional 55 shares during the period. Finally, GHP Investment Advisors Inc. boosted its stake in shares of BP p.l.c. by 0.5% in the first quarter. GHP Investment Advisors Inc. now owns 14,046 shares of the oil and gas exploration company’s stock valued at $485,000 after buying an additional 67 shares during the period. 9.95% of the stock is currently owned by institutional investors and hedge funds.

BP p.l.c. 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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