BP (NYSE:BP) Raised to “Buy” at Grupo Santander

Grupo Santander upgraded shares of BP (NYSE:BP) from a hold rating to a buy rating in a research note published on Wednesday morning, The Fly reports.

A number of other brokerages have also recently commented on BP. ValuEngine cut BP from a hold rating to a sell rating in a report on Thursday, July 18th. Credit Suisse Group cut BP from an outperform rating to a neutral rating and set a $41.06 target price for the company. in a report on Wednesday, July 10th. Jefferies Financial Group upgraded BP from a hold rating to a buy rating and lifted their target price for the stock from $46.30 to $48.60 in a report on Wednesday, July 31st. JPMorgan Chase & Co. reiterated a buy rating on shares of BP in a report on Friday, August 30th. Finally, BMO Capital Markets started coverage on BP in a report on Tuesday, August 20th. They issued an outperform rating and a $53.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $52.04.

NYSE:BP opened at $37.87 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.07 and a quick ratio of 0.77. BP has a 1 year low of $35.73 and a 1 year high of $47.16. The stock’s 50 day simple moving average is $37.39 and its two-hundred day simple moving average is $41.19. The company has a market cap of $127.91 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 1.22 and a beta of 0.77.

BP (NYSE:BP) last announced its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.05. The firm had revenue of $73.75 billion during the quarter, compared to analysts’ expectations of $79.79 billion. BP had a return on equity of 12.12% and a net margin of 2.97%. As a group, analysts anticipate that BP will post 3.06 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Focused Wealth Management Inc purchased a new position in BP during the 2nd quarter valued at $25,000. Marino Stram & Associates LLC boosted its holdings in BP by 71.0% during the 1st quarter. Marino Stram & Associates LLC now owns 667 shares of the oil and gas exploration company’s stock valued at $29,000 after acquiring an additional 277 shares during the period. Rocky Mountain Advisers LLC bought a new stake in BP during the 2nd quarter valued at $36,000. Next Capital Management LLC bought a new stake in BP during the 2nd quarter valued at $38,000. Finally, Manchester Financial Inc. bought a new stake in BP during the 2nd quarter valued at $40,000. Institutional investors own 10.77% of the company’s stock.

BP Company Profile

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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