BP (NYSE:BP) Upgraded by JPMorgan Chase & Co. to "Neutral" Rating

JPMorgan Chase & Co. upgraded shares of BP (NYSE:BP - Free Report) from an underweight rating to a neutral rating in a research note published on Thursday morning, Marketbeat Ratings reports.

Several other equities research analysts also recently weighed in on the company. Piper Sandler decreased their price objective on BP from $36.00 to $32.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. Wells Fargo & Company upped their target price on shares of BP from $30.00 to $37.00 and gave the company an "equal weight" rating in a report on Wednesday, February 12th. Morgan Stanley lowered their price target on BP from $34.70 to $31.80 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed a "sector perform" rating on shares of BP in a research note on Tuesday, January 14th. Finally, DZ Bank downgraded BP from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $38.76.

BP Stock Down 0.5 %

Shares of NYSE BP traded down $0.17 during midday trading on Thursday, hitting $33.73. 8,195,559 shares of the company's stock were exchanged, compared to its average volume of 12,214,058. The firm's fifty day simple moving average is $31.37 and its 200-day simple moving average is $31.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 0.97. The company has a market cap of $90.29 billion, a PE ratio of 421.62, a P/E/G ratio of 1.12 and a beta of 0.64. BP has a twelve month low of $27.82 and a twelve month high of $40.40.

BP (NYSE:BP - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. Research analysts predict that BP will post 3.53 EPS for the current fiscal year.

BP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.69%. BP's payout ratio is 2,375.30%.

Hedge Funds Weigh In On BP

Several hedge funds and other institutional investors have recently bought and sold shares of BP. Altrius Capital Management Inc grew its holdings in shares of BP by 9.9% during the third quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company's stock worth $7,338,000 after buying an additional 20,976 shares in the last quarter. Avior Wealth Management LLC grew its stake in BP by 83.3% in the 4th quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company's stock worth $1,577,000 after acquiring an additional 24,252 shares during the period. Wedge Capital Management L L P NC raised its holdings in BP by 2.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 660,538 shares of the oil and gas exploration company's stock valued at $19,526,000 after acquiring an additional 14,436 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of BP by 2.3% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 465,242 shares of the oil and gas exploration company's stock worth $13,753,000 after purchasing an additional 10,262 shares during the last quarter. Finally, Integrated Investment Consultants LLC purchased a new stake in shares of BP in the third quarter valued at $857,000. 11.01% of the stock is owned by institutional investors and hedge funds.

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.