BP’s (BP) Sector Perform Rating Reiterated at Royal Bank of Canada

BP (NYSE:BP)‘s stock had its “sector perform” rating reissued by analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports.

A number of other research firms have also commented on BP. The Goldman Sachs Group raised shares of BP to a “strong-buy” rating in a report on Friday, October 11th. Morgan Stanley dropped their price objective on BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company reduced their target price on BP from $33.00 to $31.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Scotiabank cut BP from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $42.00 to $36.00 in a research note on Thursday, October 10th. Finally, Redburn Atlantic cut shares of BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. Eleven research analysts have rated the stock with a hold rating, five have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.89.

BP Price Performance

Shares of NYSE:BP traded down $0.51 during midday trading on Tuesday, reaching $30.71. The company’s stock had a trading volume of 5,558,965 shares, compared to its average volume of 9,650,815. BP has a fifty-two week low of $27.82 and a fifty-two week high of $40.40. The business’s fifty day simple moving average is $29.52 and its 200-day simple moving average is $31.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 0.94. The company has a market capitalization of $82.05 billion, a P/E ratio of 32.33, a P/E/G ratio of 2.13 and a beta of 0.64.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. The firm had revenue of $47.25 billion for the quarter, compared to analyst estimates of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period last year, the company earned $1.15 EPS. As a group, equities research analysts expect that BP will post 3.55 EPS for the current fiscal year.

Institutional Trading of BP

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank & Trust Co grew its position in BP by 404.8% in the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock valued at $63,000 after purchasing an additional 1,700 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of BP by 41.0% during the 4th quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock worth $66,000 after buying an additional 646 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of BP in the second quarter valued at about $75,000. ORG Partners LLC raised its holdings in BP by 32.5% during the third quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock worth $80,000 after acquiring an additional 621 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in BP in the third quarter valued at approximately $91,000. 11.01% of the stock is currently owned by institutional investors and hedge funds.

About BP

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.