BP (NYSE:BP) Downgraded to "Hold" Rating by StockNews.com

BP (NYSE:BP - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

A number of other research firms also recently commented on BP. Piper Sandler cut their price objective on BP from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group upgraded shares of BP to a "strong-buy" rating in a research note on Friday, October 11th. BNP Paribas lowered shares of BP from an "outperform" rating to a "neutral" rating in a report on Wednesday, October 9th. Scotiabank downgraded 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 report on Thursday, October 10th. Finally, Redburn Atlantic downgraded BP from a "buy" rating to a "neutral" rating in a research report on Tuesday, September 24th. Twelve research analysts have rated the stock with a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, BP has a consensus rating of "Moderate Buy" and a consensus price target of $41.10.

BP Trading Up 0.4 %

BP traded up $0.11 during midday trading on Friday, hitting $28.96. The company's stock had a trading volume of 6,753,069 shares, compared to its average volume of 8,682,090. BP has a 52-week low of $27.82 and a 52-week high of $40.40. The firm has a 50-day moving average price of $29.49 and a two-hundred day moving average price of $32.34. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The firm has a market cap of $77.38 billion, a P/E ratio of 30.48, a PEG ratio of 2.13 and a beta of 0.64.

BP (NYSE:BP - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.78 by $0.05. The firm had revenue of $47.25 billion during the quarter, compared to analyst estimates of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. BP's revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 earnings per share. On average, research analysts anticipate that BP will post 3.55 earnings per share for the current year.

Institutional Investors Weigh In On BP

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL bought a new position in BP during the 2nd quarter valued at $75,000. ORG Partners LLC increased its holdings in shares of BP by 32.5% in the third quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company's stock valued at $80,000 after buying an additional 621 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of BP during the 3rd quarter worth $91,000. Anchor Investment Management LLC raised its position in shares of BP by 58.7% during the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company's stock worth $98,000 after purchasing an additional 1,154 shares during the period. Finally, ST Germain D J Co. Inc. boosted its position in shares of BP by 9.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 4,549 shares of the oil and gas exploration company's stock valued at $143,000 after purchasing an additional 377 shares during the period. 11.01% of the stock is currently owned by institutional investors.

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.

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