Shares of BP PLC (NYSE:BP) have been assigned an average recommendation of “Buy” from the eighteen ratings firms that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, eight have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $38.07.
A number of analysts recently weighed in on the stock. BNP Paribas reaffirmed an “outperform” rating on shares of BP PLC in a report on Tuesday, October 11th. Zacks Investment Research raised shares of BP PLC from a “sell” rating to a “hold” rating in a report on Friday, October 21st. Barclays PLC reaffirmed a “buy” rating on shares of BP PLC in a report on Thursday, October 6th. Vetr raised shares of BP PLC from a “hold” rating to a “strong-buy” rating and set a $42.32 price objective on the stock in a report on Thursday, October 27th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of BP PLC in a report on Thursday, September 8th.
Shares of BP PLC (NYSE:BP) opened at 34.27 on Wednesday. The firm has a 50 day moving average of $34.84 and a 200 day moving average of $34.08. BP PLC has a one year low of $27.01 and a one year high of $37.28. The stock’s market cap is $108.02 billion.
BP PLC (NYSE:BP) last released its quarterly earnings data on Tuesday, November 1st. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.05. BP PLC had a negative net margin of 2.03% and a positive return on equity of 2.48%. The business had revenue of $48.04 billion for the quarter, compared to analysts’ expectations of $50.51 billion. During the same quarter last year, the company earned $0.60 EPS. The company’s revenue for the quarter was down 16.2% compared to the same quarter last year. On average, equities research analysts predict that BP PLC will post $1.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, November 11th will be issued a $0.595 dividend. This represents a $2.38 annualized dividend and a dividend yield of 6.94%. The ex-dividend date of this dividend is Tuesday, November 8th. BP PLC’s payout ratio is -195.08%.
Several hedge funds and other institutional investors have recently made changes to their positions in BP. First Heartland Consultants Inc. purchased a new position in shares of BP PLC during the third quarter valued at approximately $272,000. Accident Compensation Corp boosted its position in shares of BP PLC by 26.2% in the third quarter. Accident Compensation Corp now owns 31,011 shares of the oil and gas exploration company’s stock valued at $1,090,000 after buying an additional 6,446 shares during the last quarter. ETRADE Capital Management LLC boosted its position in shares of BP PLC by 22.2% in the third quarter. ETRADE Capital Management LLC now owns 67,979 shares of the oil and gas exploration company’s stock valued at $2,391,000 after buying an additional 12,364 shares during the last quarter. OLD Republic International Corp boosted its position in shares of BP PLC by 15.2% in the third quarter. OLD Republic International Corp now owns 1,632,500 shares of the oil and gas exploration company’s stock valued at $66,019,000 after buying an additional 215,000 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of BP PLC during the third quarter valued at approximately $304,000. Institutional investors own 11.71% of the company’s stock.