BP (NYSE:BP) Cut to Hold at TD Cowen

TD Cowen downgraded shares of BP (NYSE:BP) from a buy rating to a hold rating in a report released on Wednesday morning, MarketBeat reports. TD Cowen currently has $40.00 target price on the oil and gas exploration company’s stock.

Other equities research analysts also recently issued reports about the stock. Raymond James upped their price objective on shares of BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Wolfe Research set a $50.00 target price on shares of BP in a research note on Tuesday, January 14th. Morgan Stanley dropped their target price on shares of BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. JPMorgan Chase & Co. upgraded shares of BP from an “underweight” rating to a “neutral” rating in a research note on Thursday, February 20th. Finally, StockNews.com cut shares of BP from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, two have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, BP has an average rating of “Hold” and an average target price of $37.48.

BP Stock Down 0.4 %

Shares of NYSE BP opened at $34.60 on Wednesday. The stock has a market capitalization of $92.62 billion, a P/E ratio of 432.49, a P/E/G ratio of 1.12 and a beta of 0.58. The company has a 50-day moving average price of $32.70 and a 200-day moving average price of $31.27. BP has a 1 year low of $27.82 and a 1 year high of $40.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 0.97.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.12). BP had a return on equity of 10.96% and a net margin of 0.20%. On average, equities research analysts forecast that BP will post 3.53 EPS for the current fiscal year.

BP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 21st will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date is Friday, February 21st. BP’s payout ratio is currently 2,375.00%.

Institutional Trading of BP

A number of institutional investors have recently modified their holdings of the business. Avior Wealth Management LLC increased its holdings in BP by 117.9% during the 3rd quarter. Avior Wealth Management LLC now owns 29,108 shares of the oil and gas exploration company’s stock worth $914,000 after acquiring an additional 15,750 shares during the period. Integrated Investment Consultants LLC bought a new stake in BP during the 3rd quarter worth approximately $857,000. Eagle Asset Management Inc. increased its holdings in BP by 10.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 9,134 shares of the oil and gas exploration company’s stock worth $264,000 after acquiring an additional 891 shares during the period. Quantbot Technologies LP bought a new stake in BP during the 3rd quarter worth approximately $5,089,000. Finally, Captrust Financial Advisors increased its holdings in BP by 1.2% during the 3rd quarter. Captrust Financial Advisors now owns 440,973 shares of the oil and gas exploration company’s stock worth $13,842,000 after acquiring an additional 5,150 shares during the period. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

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.