BP (NYSE:BP – Get Free Report) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.
BP has been the subject of several other reports. Hsbc Global Res raised shares of BP to a “hold” rating in a research note on Thursday, August 8th. UBS Group raised shares of BP to a “strong-buy” rating in a research report on Tuesday, July 30th. HSBC cut BP from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Wells Fargo & Company dropped their target price on BP from $39.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, September 27th. Finally, Morgan Stanley lowered BP from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $49.90 to $41.50 in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.98.
Check Out Our Latest Report on BP
BP Stock Up 1.3 %
BP (NYSE:BP – Get Free Report) last released its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. The firm had revenue of $47.30 billion during the quarter, compared to analysts’ expectations of $55.82 billion. BP had a return on equity of 13.83% and a net margin of 3.60%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. Research analysts predict that BP will post 3.76 earnings per share for the current year.
Institutional Trading of BP
A number of institutional investors have recently modified their holdings of BP. GAMMA Investing LLC boosted its holdings in shares of BP by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 2,755 shares of the oil and gas exploration company’s stock valued at $104,000 after purchasing an additional 586 shares in the last quarter. Rothschild Investment LLC bought a new position in BP in the second quarter valued at about $2,620,000. LRI Investments LLC acquired a new position in BP during the first quarter worth about $32,000. Kornitzer Capital Management Inc. KS boosted its stake in shares of BP by 4.6% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 431,655 shares of the oil and gas exploration company’s stock valued at $15,583,000 after purchasing an additional 19,140 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of BP during the 1st quarter valued at approximately $106,000. 11.01% of the stock is currently 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.
Recommended Stories
- Five stocks we like better than BP
- 3 Warren Buffett Stocks to Buy Now
- Taiwan Semiconductor Soars on Earnings With More Room to Run
- Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
- Is Lucid Group Nearing the Bottom? What Investors Should Know
- ETF Screener: Uses and Step-by-Step Guide
- 90% Gain Possible? Analysts Are Bullish on Joby Aviation
Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.