BP (NYSE:BP) Stock Rating Lowered by BNP Paribas

BP (NYSE:BP) was downgraded by analysts at BNP Paribas from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports.

A number of other equities analysts have also commented on the company. Redburn Atlantic lowered BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. Scotiabank cut their price objective on BP from $47.00 to $42.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada cut BP from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their price target on BP from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, September 27th. Finally, Morgan Stanley lowered shares of BP from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $49.90 to $41.50 in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.98.

BP Stock Performance

Shares of BP stock opened at $32.34 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.24 and a debt-to-equity ratio of 0.62. The company has a market cap of $89.57 billion, a PE ratio of 10.14, a price-to-earnings-growth ratio of 4.27 and a beta of 0.64. The business has a 50 day moving average price of $32.92 and a 200-day moving average price of $35.56. BP has a 52 week low of $30.52 and a 52 week high of $40.84.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.08. BP had a return on equity of 13.83% and a net margin of 3.60%. The business had revenue of $47.30 billion during the quarter, compared to analyst estimates of $55.82 billion. During the same period in the prior year, the company earned $0.89 earnings per share. BP’s revenue was down 2.6% compared to the same quarter last year. Equities analysts anticipate that BP will post 3.85 earnings per share for the current fiscal year.

Institutional Trading of BP

Several hedge funds have recently made changes to their positions in BP. GAMMA Investing LLC grew its position in shares of BP by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 2,755 shares of the oil and gas exploration company’s stock valued at $104,000 after buying an additional 586 shares during the last quarter. OLD Mission Capital LLC grew its holdings in BP by 145.5% during the 4th quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock valued at $23,233,000 after buying an additional 388,931 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of BP during the second quarter worth $2,620,000. LRI Investments LLC acquired a new stake in shares of BP during the first quarter worth $32,000. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of BP by 4.6% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 431,655 shares of the oil and gas exploration company’s stock worth $15,583,000 after buying an additional 19,140 shares during the period. Hedge funds and other institutional investors own 11.01% of the company’s stock.

BP Company Profile

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.