Piper Sandler Issues Pessimistic Forecast for BP (NYSE:BP) Stock Price

BP (NYSE:BP) had its target price decreased by investment analysts at Piper Sandler from $36.00 to $32.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas exploration company’s stock. Piper Sandler’s price objective suggests a potential upside of 12.40% from the stock’s current price.

A number of other equities research analysts also recently issued reports on BP. StockNews.com upgraded shares of BP from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company reduced their target price on BP from $33.00 to $31.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Redburn Atlantic downgraded BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. BNP Paribas downgraded shares of BP from an “outperform” rating to a “neutral” rating in a research report on Wednesday, October 9th. Finally, Scotiabank lowered shares of BP from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $42.00 to $36.00 in a research report on Thursday, October 10th. Eleven research analysts have rated the stock with a hold rating, five have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.10.

BP Trading Down 0.2 %

NYSE BP traded down $0.07 during mid-day trading on Thursday, reaching $28.47. 4,510,052 shares of the stock were exchanged, compared to its average volume of 8,699,049. The stock has a market capitalization of $76.07 billion, a PE ratio of 29.97, a PEG ratio of 2.13 and a beta of 0.64. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22. BP has a 1-year low of $27.82 and a 1-year high of $40.40. The business’s fifty day simple moving average is $29.88 and its 200 day simple moving average is $32.66.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. BP had a return on equity of 12.91% and a net margin of 1.36%. The business had revenue of $47.25 billion during the quarter, compared to the consensus estimate of $52.05 billion. During the same quarter in the previous year, the business earned $1.15 earnings per share. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, research analysts anticipate that BP will post 3.55 earnings per share for the current fiscal year.

Institutional Trading of BP

Several institutional investors have recently added to or reduced their stakes in BP. Independence Bank of Kentucky raised its position in shares of BP by 85.7% during the 2nd quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company’s stock valued at $47,000 after acquiring an additional 600 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of BP in the 2nd quarter valued at about $75,000. ORG Partners LLC raised its stake in BP by 32.5% during the third quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock worth $80,000 after acquiring an additional 621 shares during the period. Future Financial Wealth Managment LLC bought a new position in BP in the third quarter worth about $91,000. Finally, Anchor Investment Management LLC grew its holdings in shares of BP by 58.7% during the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after purchasing an additional 1,154 shares during the last quarter. 11.01% of the stock is owned by institutional investors and hedge funds.

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.