Raymond James Issues Positive Forecast for BP (NYSE:BP) Stock Price

BP (NYSE:BP) had its price objective upped by Raymond James from $36.00 to $37.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas exploration company’s stock. Raymond James’ target price suggests a potential upside of 16.72% from the company’s previous close.

Several other equities research analysts have also commented on BP. Wells Fargo & Company decreased their price objective on shares of BP from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday. Morgan Stanley dropped their price target on BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group upgraded BP to a “strong-buy” rating in a research note on Friday, October 11th. StockNews.com upgraded BP from a “hold” rating to a “buy” rating in a research note on Friday, January 10th. Finally, BNP Paribas lowered shares of BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.76.

BP Stock Performance

Shares of BP stock opened at $31.70 on Friday. The company has a market cap of $84.70 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.20 and a beta of 0.64. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. BP has a 52 week low of $27.82 and a 52 week high of $40.40. The business has a 50 day moving average price of $29.65 and a 200-day moving average price of $31.84.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. The firm had revenue of $47.25 billion for the quarter, compared to the consensus estimate of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 EPS. Equities analysts anticipate that BP will post 3.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new stake in shares of BP in the third quarter worth about $5,089,000. SG Americas Securities LLC boosted its holdings in BP by 860.7% in the 3rd quarter. SG Americas Securities LLC now owns 66,464 shares of the oil and gas exploration company’s stock valued at $2,086,000 after purchasing an additional 59,546 shares during the period. Integrated Investment Consultants LLC bought a new position in shares of BP in the third quarter worth $857,000. Avior Wealth Management LLC boosted its stake in BP by 83.3% during the fourth quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company’s stock valued at $1,577,000 after buying an additional 24,252 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its stake in BP by 5.4% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 454,980 shares of the oil and gas exploration company’s stock worth $14,282,000 after acquiring an additional 23,325 shares during the last quarter. Institutional investors own 11.01% of the company’s stock.

About BP

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.