BP (BP) Reaches New 52-Week High at $41.90

Shares of BP plc (NYSE:BP) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $41.90 and last traded at $41.72, with a volume of 2966100 shares. The stock had previously closed at $41.69.

A number of brokerages recently issued reports on BP. BMO Capital Markets raised BP from a “market perform” rating to an “outperform” rating in a research report on Monday, September 18th. Kepler Capital Markets raised BP from a “reduce” rating to a “hold” rating in a research report on Tuesday, October 3rd. Vetr downgraded BP from a “strong-buy” rating to a “buy” rating and set a $43.32 target price for the company. in a research report on Wednesday, October 4th. Cowen reaffirmed a “hold” rating and issued a $39.00 target price on shares of BP in a research report on Tuesday, October 24th. Finally, TheStreet raised BP from a “c” rating to a “b” rating in a research report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $38.63.

The firm has a market capitalization of $138,200.00, a PE ratio of 35.92, a P/E/G ratio of 1.21 and a beta of 0.97. The company has a quick ratio of 0.88, a current ratio of 1.18 and a debt-to-equity ratio of 0.57.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Friday, November 10th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, November 9th. This is an increase from BP’s previous quarterly dividend of $0.60. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.71%. BP’s payout ratio is currently 203.42%.

Several institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC lifted its stake in BP by 3.7% during the third quarter. Wedge Capital Management L L P NC now owns 369,940 shares of the oil and gas exploration company’s stock worth $14,217,000 after purchasing an additional 13,323 shares during the last quarter. Atlantic Trust Group LLC lifted its stake in BP by 24.5% during the second quarter. Atlantic Trust Group LLC now owns 57,428 shares of the oil and gas exploration company’s stock worth $1,991,000 after purchasing an additional 11,295 shares during the last quarter. Assetmark Inc. lifted its stake in BP by 6.7% during the third quarter. Assetmark Inc. now owns 93,251 shares of the oil and gas exploration company’s stock worth $3,584,000 after purchasing an additional 5,839 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in BP by 8.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 339,585 shares of the oil and gas exploration company’s stock worth $13,050,000 after purchasing an additional 25,138 shares during the last quarter. Finally, Zions Bancorporation lifted its stake in BP by 607.3% during the third quarter. Zions Bancorporation now owns 31,056 shares of the oil and gas exploration company’s stock worth $1,193,000 after purchasing an additional 26,665 shares during the last quarter. 9.96% of the stock is owned by institutional investors and hedge funds.

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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.

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