Several other equities research analysts have also recently weighed in on the stock. Morgan Stanley upped their price target on shares of BP from GBX 566 ($6.69) to GBX 603 ($7.13) in a research report on Tuesday, November 8th. TD Securities boosted their price objective on shares of BP from $32.00 to $34.00 and gave the stock a hold rating in a research note on Wednesday, November 2nd. StockNews.com upgraded shares of BP from a hold rating to a buy rating in a research note on Thursday, November 10th. Scotiabank lowered shares of BP from an outperform rating to a sector perform rating in a research note on Thursday, October 13th. Finally, UBS Group boosted their price objective on shares of BP from GBX 510 ($6.03) to GBX 535 ($6.33) in a research note on Wednesday, November 2nd. Seven research analysts have rated the stock with a hold rating and eleven have issued a 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 $246.15.
BP Price Performance
Shares of BP opened at $34.89 on Tuesday. The company has a 50 day moving average price of $31.62 and a 200-day moving average price of $30.72. BP has a fifty-two week low of $25.33 and a fifty-two week high of $34.95. The stock has a market capitalization of $108.15 billion, a PE ratio of -10.17, a PEG ratio of 0.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.76 and a current ratio of 1.04.
BP Announces Dividend
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in BP. New York State Common Retirement Fund lifted its stake in BP by 39.4% in the first quarter. New York State Common Retirement Fund now owns 725,699 shares of the oil and gas exploration company’s stock worth $21,336,000 after acquiring an additional 205,014 shares during the last quarter. Principal Street Partners LLC purchased a new stake in shares of BP during the 1st quarter worth approximately $342,000. 1ST Source Bank lifted its position in shares of BP by 9.5% during the 1st quarter. 1ST Source Bank now owns 34,523 shares of the oil and gas exploration company’s stock worth $1,015,000 after buying an additional 2,995 shares during the last quarter. SouthState Corp lifted its position in shares of BP by 4.1% during the 1st quarter. SouthState Corp now owns 134,261 shares of the oil and gas exploration company’s stock worth $3,947,000 after buying an additional 5,304 shares during the last quarter. Finally, Herold Advisors Inc. lifted its position in shares of BP by 5.8% during the 1st quarter. Herold Advisors Inc. now owns 10,622 shares of the oil and gas exploration company’s stock worth $312,000 after buying an additional 580 shares during the last quarter. Hedge funds and other institutional investors own 9.22% of the company’s stock.
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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