TD Cowen Downgrades BP (NYSE:BP) to Hold

BP (NYSE:BP) was downgraded by equities research analysts at TD Cowen from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, Marketbeat reports. They presently have a $40.00 price target on the oil and gas exploration company’s stock. TD Cowen’s target price would indicate a potential upside of 16.92% from the stock’s current price.

Several other research analysts have also issued reports on BP. JPMorgan Chase & Co. raised shares of BP from an “underweight” rating to a “neutral” rating in a research note on Thursday, February 20th. Raymond James raised their target price on shares of BP from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of BP in a research note on Tuesday, January 14th. Morgan Stanley reduced their target price on shares of BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, DZ Bank lowered shares of BP from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, three have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, BP presently has an average rating of “Hold” and an average target price of $38.48.

BP Stock Up 1.3 %

Shares of NYSE:BP opened at $34.21 on Wednesday. BP has a 12 month low of $27.82 and a 12 month high of $40.40. The company’s 50-day moving average price is $32.49 and its two-hundred day moving average price is $31.22. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.70. The firm has a market cap of $91.59 billion, a P/E ratio of 427.70, a P/E/G ratio of 1.12 and a beta of 0.58.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 11th. The oil and gas exploration company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.12). BP had a return on equity of 10.96% and a net margin of 0.20%. As a group, research analysts forecast that BP will post 3.53 EPS for the current fiscal year.

Institutional Trading of BP

Several institutional investors and hedge funds have recently added to or reduced their stakes in BP. Avior Wealth Management LLC raised its position in BP by 117.9% during the third quarter. Avior Wealth Management LLC now owns 29,108 shares of the oil and gas exploration company’s stock worth $914,000 after acquiring an additional 15,750 shares in the last quarter. Integrated Investment Consultants LLC bought a new stake in BP during the third quarter worth $857,000. Eagle Asset Management Inc. raised its position in BP by 10.8% during the third quarter. Eagle Asset Management Inc. now owns 9,134 shares of the oil and gas exploration company’s stock worth $264,000 after acquiring an additional 891 shares in the last quarter. Quantbot Technologies LP bought a new stake in BP during the third quarter worth $5,089,000. Finally, Captrust Financial Advisors raised its position in BP by 1.2% during the third quarter. Captrust Financial Advisors now owns 440,973 shares of the oil and gas exploration company’s stock worth $13,842,000 after acquiring an additional 5,150 shares in the last quarter. 11.01% of the stock is owned by institutional investors.

BP Company Profile

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.