BP p.l.c. (BP) Upgraded to “Outperform” by BMO Capital Markets

BP p.l.c. (NYSE:BP) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday.

Several other analysts have also issued reports on BP. BidaskClub raised shares of BP p.l.c. from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. TheStreet lowered shares of BP p.l.c. from a “b-” rating to a “c” rating in a research report on Thursday, August 10th. Scotiabank set a $37.00 price target on shares of BP p.l.c. and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Argus upped their price target on shares of BP p.l.c. from $36.00 to $41.00 and gave the stock a “buy” rating in a research report on Thursday, June 1st. Finally, Bank of America Corporation lowered shares of BP p.l.c. from a “neutral” rating to an “underperform” rating in a research report on Friday, June 30th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $36.26.

BP p.l.c. (BP) opened at 36.58 on Monday. The company has a market cap of $120.02 billion, a P/E ratio of 31.92 and a beta of 0.93. The company has a 50-day moving average of $35.21 and a 200 day moving average of $35.00. BP p.l.c. has a one year low of $32.53 and a one year high of $38.68.

BP p.l.c. (NYSE:BP) last posted its quarterly earnings results on Tuesday, August 1st. The oil and gas exploration company reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $56.51 billion for the quarter, compared to the consensus estimate of $56.09 billion. During the same period last year, the company posted $0.23 earnings per share. The business’s revenue was up 21.7% compared to the same quarter last year. Equities research analysts predict that BP p.l.c. will post $1.65 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in the stock. Patriot Financial Group Insurance Agency LLC increased its position in BP p.l.c. by 0.5% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 4,878 shares of the oil and gas exploration company’s stock worth $169,000 after acquiring an additional 26 shares during the period. Plancorp LLC increased its position in BP p.l.c. by 0.3% during the first quarter. Plancorp LLC now owns 12,697 shares of the oil and gas exploration company’s stock worth $437,000 after acquiring an additional 36 shares during the period. Cambridge Trust Co. increased its position in BP p.l.c. by 0.7% during the first quarter. Cambridge Trust Co. now owns 7,283 shares of the oil and gas exploration company’s stock worth $251,000 after acquiring an additional 54 shares during the period. Johnson Financial Group Inc. increased its position in BP p.l.c. by 1.2% during the second quarter. Johnson Financial Group Inc. now owns 4,672 shares of the oil and gas exploration company’s stock worth $162,000 after acquiring an additional 55 shares during the period. Finally, GHP Investment Advisors Inc. increased its position in BP p.l.c. by 0.5% during the first quarter. GHP Investment Advisors Inc. now owns 14,046 shares of the oil and gas exploration company’s stock worth $485,000 after acquiring an additional 67 shares during the period. 10.09% 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.

Analyst Recommendations for BP p.l.c. (NYSE:BP)

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