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.
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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