BP (NYSE:BP) Hits New 52-Week High at $36.35

BP p.l.c. (NYSE:BPGet Rating) shares hit a new 52-week high on Wednesday . The company traded as high as $36.35 and last traded at $36.20, with a volume of 91295 shares trading hands. The stock had previously closed at $35.69.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BP shares. UBS Group raised their target price on shares of BP from GBX 510 ($6.22) to GBX 535 ($6.53) in a research note on Wednesday, November 2nd. Wells Fargo & Company lifted their price target on shares of BP from $36.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 10th. Scotiabank raised shares of BP from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $37.00 to $42.00 in a research note on Tuesday. Morgan Stanley lifted their price target on shares of BP from GBX 566 ($6.91) to GBX 603 ($7.36) in a research note on Tuesday, November 8th. Finally, HSBC raised shares of BP from a “hold” rating to a “buy” rating in a research note on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, BP presently has a consensus rating of “Moderate Buy” and an average price target of $267.69.

BP Trading Up 0.6 %

The firm has a market cap of $110.17 billion, a P/E ratio of -10.36, a PEG ratio of 0.91 and a beta of 0.76. The firm’s fifty day moving average is $34.65 and its two-hundred day moving average is $31.88. The company has a quick ratio of 0.76, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

BP (NYSE:BPGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The oil and gas exploration company reported $2.59 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.65. The business had revenue of $57.81 billion for the quarter, compared to analysts’ expectations of $57.46 billion. BP had a negative net margin of 4.75% and a positive return on equity of 33.24%. Analysts predict that BP p.l.c. will post 8.93 earnings per share for the current fiscal year.

BP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 16th. Investors of record on Friday, November 11th were issued a $0.3604 dividend. This represents a $1.44 annualized dividend and a yield of 4.06%. The ex-dividend date was Thursday, November 10th. BP’s dividend payout ratio (DPR) is currently -41.40%.

Institutional Trading of BP

Several large investors have recently added to or reduced their stakes in BP. Herold Advisors Inc. boosted its holdings in shares of BP by 2.9% during the 3rd quarter. Herold Advisors Inc. now owns 10,935 shares of the oil and gas exploration company’s stock valued at $312,000 after buying an additional 306 shares in the last quarter. Boenning & Scattergood Inc. boosted its holdings in shares of BP by 1.9% during the 2nd quarter. Boenning & Scattergood Inc. now owns 20,854 shares of the oil and gas exploration company’s stock valued at $591,000 after buying an additional 387 shares in the last quarter. Trust Co. of Vermont boosted its holdings in shares of BP by 14.9% during the 3rd quarter. Trust Co. of Vermont now owns 3,089 shares of the oil and gas exploration company’s stock valued at $88,000 after buying an additional 400 shares in the last quarter. Vantage Financial Partners Ltd. Inc. raised its position in shares of BP by 3.6% in the 2nd quarter. Vantage Financial Partners Ltd. Inc. now owns 11,522 shares of the oil and gas exploration company’s stock worth $327,000 after purchasing an additional 405 shares during the last quarter. Finally, Atlas Brown Inc. raised its position in shares of BP by 0.9% in the 2nd quarter. Atlas Brown Inc. now owns 47,301 shares of the oil and gas exploration company’s stock worth $1,341,000 after purchasing an additional 440 shares during the last quarter. Institutional investors own 9.30% of the company’s stock.

About BP

(Get Rating)

BP Plc operates as an integrated oil and gas company. It operates through the following segments: Upstream, Downstream and Rosneft. The Upstream segment engages in the oil and natural gas exploration, field development and production, midstream transportation, storage and processing, and marketing and trade of natural gas, including liquefied natural gas and power, and natural gas liquids.

Featured Articles

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.