BP (NYSE:BP) Price target raised to GBX 472 at Deutsche Bank Aktiengesellschaft
BP (NYSE: BP – Get a Note) had its price target raised by stock analysts at Deutsche Bank Aktiengesellschaft from 450 GBX ($5.45) to 472 GBX ($5.72) in a research note released to investors on Wednesday, reports The Fly.
A number of other research firms have also published reports on BP recently. TD Securities raised its price target on BP from $34.00 to $36.00 and gave the company a “holding” rating in a Wednesday, May 4 research note. Wells Fargo & Company raised its price target on BP shares from $28.00 to $29.00 and gave the stock an “underweight” rating in a Friday, March 11 report. Credit Suisse Group assumed coverage for BP shares in a Thursday, June 9 research report. They set a “neutral” rating for the company. TheStreet downgraded BP from a ‘b’ rating to a ‘c’ rating in a Monday, June 13 research report. Finally, JPMorgan Chase & Co. raised its price target on BP shares from 480 GBX ($5.81) to 500 GBX ($6.05) in a Tuesday, April 19 research note. One stock research analyst gave the stock a sell rating, six gave the company a hold rating and eleven gave the company a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and an average target price of $132.87.
BP shares traded down $1.06 during trading hours on Wednesday, hitting $26.09. 454,038 shares of the company were traded, against an average volume of 11,966,711. BP has a fifty-two week low of $22.64 and a fifty-two week high of $34.30. The stock’s fifty-day moving average is $30.59 and its two-hundred-day moving average is $30.25. The company has a market capitalization of $85.32 billion, a price/earnings ratio of -4.82, a P/E/G ratio of 0.82 and a beta of 0.76. The company has a debt ratio of 0.71, a current ratio of 1.19 and a quick ratio of 0.89.
BP (NYSE:BP – Get Rating) last announced its results on Tuesday, May 3. The oil and gas exploration company reported earnings per share (EPS) of $1.92 for the quarter, beating analysts’ consensus estimate of $1.41 by $0.51. BP had a negative net margin of 9.77% and a positive return on equity of 18.70%. The company posted revenue of $49.26 billion for the quarter, versus analyst estimates of $53.20 billion. In the same period a year earlier, the company had earned earnings per share of $0.77. BP’s quarterly revenue rose 42.6% year-over-year. On average, research analysts expect BP to post earnings per share of 6.76 for the current year.
Major investors have recently increased or reduced their stake in the company. Turim 21 Investimentos Ltda. bought a new position in BP in the first quarter worth about $30,000. Sterling Investment Advisors Ltd. bought a new position in BP stock in Q1 worth $32,000. Amplius Wealth Advisors LLC acquired a new position in BP stock during Q4 worth $35,000. Fieldpoint Private Securities LLC increased its position in BP shares by 50.3% during the fourth quarter. Fieldpoint Private Securities LLC now owns 1,450 shares of the oil and gas exploration company worth $39,000 after buying 485 additional shares in the last quarter. Finally, Leverty Financial Group LLC bought a new position in BP in the fourth quarter worth about $48,000. Hedge funds and other institutional investors hold 8.78% of the company’s shares.
About BP (Get a rating)
BP plc is active in the energy sector worldwide. It operates through Low Carbon Gas and Power, Oil Production and Operations, Customers and Products and Rosneft segments. It produces and markets natural gas; offers biofuels; operates onshore and offshore wind power plants and solar power generation facilities; and provides decarbonization solutions and services, such as hydrogen and carbon capture and storage.
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