BP (NYSE:BP) Given New $35.00 Price Target at TD Securities

BP (NYSE:BPGet Rating) had its price objective boosted by TD Securities from $33.00 to $35.00 in a report published on Wednesday morning, BayStreet.CA reports. The firm currently has a hold rating on the oil and gas exploration company’s stock.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. increased their price objective on BP from GBX 480 ($5.88) to GBX 500 ($6.13) in a research report on Tuesday, April 19th. Deutsche Bank Aktiengesellschaft upped their price target on BP from GBX 450 ($5.51) to GBX 472 ($5.78) in a research note on Wednesday, July 6th. TheStreet cut BP from a b rating to a c rating in a research note on Monday, June 13th. Credit Suisse Group assumed coverage on BP in a research note on Thursday, June 9th. They set a neutral rating on the stock. Finally, StockNews.com cut BP from a buy rating to a hold rating in a research note on Thursday, May 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, BP has a consensus rating of Moderate Buy and an average price target of $164.58.

BP Price Performance

BP stock opened at $29.66 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.16 and a quick ratio of 0.89. The business has a 50 day simple moving average of $29.31 and a 200-day simple moving average of $30.15. The firm has a market capitalization of $95.60 billion, a PE ratio of -8.47, a price-to-earnings-growth ratio of 0.71 and a beta of 0.74. BP has a 1 year low of $23.39 and a 1 year high of $34.30.

BP (NYSE:BPGet Rating) last issued its quarterly earnings data on Monday, August 1st. The oil and gas exploration company reported $2.61 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.99. The company had revenue of $67.87 billion during the quarter, compared to analyst estimates of $60.85 billion. BP had a positive return on equity of 26.00% and a negative net margin of 5.38%. The firm’s revenue for the quarter was up 86.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.83 earnings per share. Equities research analysts anticipate that BP will post 7.97 earnings per share for the current fiscal year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, August 12th will be issued a $0.3604 dividend. This represents a $1.44 annualized dividend and a yield of 4.86%. The ex-dividend date is Thursday, August 11th. This is a positive change from BP’s previous quarterly dividend of $0.33. BP’s dividend payout ratio is -36.86%.

Hedge Funds Weigh In On BP

Large investors have recently bought and sold shares of the business. Turim 21 Investimentos Ltda. purchased a new position in BP in the first quarter valued at $30,000. LS Investment Advisors LLC purchased a new position in BP in the second quarter valued at $31,000. Sterling Investment Advisors Ltd. purchased a new position in BP in the first quarter valued at $32,000. James Investment Research Inc. purchased a new position in BP in the second quarter valued at $46,000. Finally, GoalVest Advisory LLC increased its holdings in BP by 200.6% in the second quarter. GoalVest Advisory LLC now owns 1,638 shares of the oil and gas exploration company’s stock valued at $44,000 after buying an additional 1,093 shares during the last quarter. Hedge funds and other institutional investors own 8.78% of the company’s stock.

About BP

(Get Rating)

BP p.l.c. engages in the energy business worldwide. It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. It produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such as hydrogen and carbon capture and storage.

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Analyst Recommendations for BP (NYSE:BP)

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