TD Securities Increases BP (NYSE:BP) Price Target to $43.00

BP (NYSE:BPGet Free Report) had its price objective increased by equities research analysts at TD Securities from $41.00 to $43.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. TD Securities’ target price would indicate a potential upside of 18.72% from the company’s current price.

A number of other analysts also recently weighed in on BP. Piper Sandler reduced their target price on shares of BP from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Monday, January 8th. Raymond James lowered their target price on shares of BP from $46.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 1st. Finally, JPMorgan Chase & Co. cut shares of BP from a “neutral” rating to an “underweight” rating in a research note on Wednesday, November 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $165.80.

Read Our Latest Stock Report on BP

BP Trading Up 0.1 %

NYSE:BP opened at $36.22 on Wednesday. The company has a quick ratio of 0.91, a current ratio of 1.21 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $35.17 and a 200 day moving average of $36.60. The firm has a market capitalization of $103.75 billion, a P/E ratio of 7.12, a P/E/G ratio of 1.12 and a beta of 0.69. BP has a 52 week low of $33.52 and a 52 week high of $41.38.

BP (NYSE:BPGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The oil and gas exploration company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.11. The business had revenue of $52.14 billion for the quarter, compared to the consensus estimate of $53.14 billion. BP had a net margin of 7.15% and a return on equity of 15.94%. The company’s quarterly revenue was down 24.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.59 EPS. On average, research analysts predict that BP will post 4.98 earnings per share for the current year.

Hedge Funds Weigh In On BP

Institutional investors have recently made changes to their positions in the company. Miller Wealth Advisors LLC increased its stake in shares of BP by 2,828.0% during the second quarter. Miller Wealth Advisors LLC now owns 732 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 707 shares during the period. Intrepid Capital Management Inc. purchased a new position in shares of BP during the second quarter valued at $28,000. Turim 21 Investimentos Ltda. purchased a new position in shares of BP during the first quarter valued at $30,000. First United Bank & Trust purchased a new stake in shares of BP during the fourth quarter worth about $33,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in shares of BP during the third quarter worth about $35,000. Hedge funds and other institutional investors own 11.01% of the company’s stock.

About BP

(Get Free Report)

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.

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