Evercore ISI Raises BP plc (BP) Price Target to $48.00

BP plc (NYSE:BP) had its price objective hoisted by Evercore ISI from $43.00 to $48.00 in a research report report published on Wednesday morning, The Fly reports. They currently have an outperform rating on the oil and gas exploration company’s stock.

Several other research firms have also weighed in on BP. Vetr lowered shares of BP plc from a buy rating to a hold rating and set a $40.67 target price on the stock. in a report on Monday, October 30th. Cowen and Company reaffirmed a hold rating and set a $39.00 price target on shares of BP plc in a research note on Tuesday, October 24th. Piper Jaffray Companies reaffirmed a buy rating and set a $39.00 price target on shares of BP plc in a research note on Thursday, September 28th. Kepler Capital Markets raised shares of BP plc from a reduce rating to a hold rating in a research note on Tuesday, October 3rd. Finally, BMO Capital Markets raised shares of BP plc from a market perform rating to an outperform rating in a research note on Monday, September 18th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. BP plc has an average rating of Hold and an average price target of $38.11.

BP plc (BP) opened at $40.56 on Wednesday. The firm has a market cap of $135.55 billion, a price-to-earnings ratio of 29.69, a P/E/G ratio of 1.23 and a beta of 0.98. The company has a current ratio of 1.18, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57. BP plc has a 1-year low of $32.53 and a 1-year high of $41.20.

BP plc (NYSE:BP) last posted its earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.18). The business had revenue of $56.51 billion for the quarter, compared to analyst estimates of $56.09 billion. BP plc had a net margin of 1.70% and a return on equity of 4.52%. The business’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS. research analysts forecast that BP plc will post 1.69 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, November 10th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This is a positive change from BP plc’s previous quarterly dividend of $0.60. This represents a $2.40 annualized dividend and a dividend yield of 5.92%. BP plc’s payout ratio is 203.42%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. HL Financial Services LLC boosted its holdings in shares of BP plc by 4.2% in the 3rd quarter. HL Financial Services LLC now owns 98,520 shares of the oil and gas exploration company’s stock valued at $3,786,000 after buying an additional 4,015 shares during the period. FDx Advisors Inc. boosted its holdings in shares of BP plc by 3.1% in the 3rd quarter. FDx Advisors Inc. now owns 93,573 shares of the oil and gas exploration company’s stock valued at $3,596,000 after buying an additional 2,780 shares during the period. Community Trust & Investment Co. boosted its holdings in shares of BP plc by 3.6% in the 3rd quarter. Community Trust & Investment Co. now owns 351,552 shares of the oil and gas exploration company’s stock valued at $13,510,000 after buying an additional 12,142 shares during the period. Goodman Financial Corp acquired a new position in shares of BP plc in the 3rd quarter valued at about $213,000. Finally, Advisor Partners LLC boosted its holdings in shares of BP plc by 53.8% in the 3rd quarter. Advisor Partners LLC now owns 8,929 shares of the oil and gas exploration company’s stock valued at $343,000 after buying an additional 3,123 shares during the period. 9.88% of the stock is owned by institutional investors and hedge funds.

BP plc 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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