BP (NYSE:BP) Reaches New 12-Month Low at $32.51

BP p.l.c. (NYSE:BP - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $32.51 and last traded at $32.53, with a volume of 4347184 shares traded. The stock had previously closed at $32.87.

Wall Street Analysts Forecast Growth

BP has been the subject of several recent analyst reports. Hsbc Global Res raised shares of BP to a "hold" rating in a research report on Thursday, August 8th. Barclays raised shares of BP to a "strong-buy" rating in a research report on Wednesday, July 31st. Piper Sandler reissued a "neutral" rating and issued a $43.00 price target on shares of BP in a research report on Wednesday, July 17th. Wolfe Research began coverage on shares of BP in a research report on Thursday, July 18th. They issued an "outperform" rating and a $57.00 price target for the company. Finally, StockNews.com cut shares of BP from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $44.23.

BP Stock Down 1.4 %

The company has a quick ratio of 0.95, a current ratio of 1.24 and a debt-to-equity ratio of 0.62. The business's fifty day moving average price is $34.66 and its 200 day moving average price is $36.30. The firm has a market capitalization of $89.75 billion, a PE ratio of 10.16, a PEG ratio of 2.05 and a beta of 0.65.

BP (NYSE:BP - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.08. BP had a net margin of 3.60% and a return on equity of 13.83%. The business had revenue of $47.30 billion for the quarter, compared to analyst estimates of $55.82 billion. During the same period in the previous year, the business posted $0.89 earnings per share. The business's revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts forecast that BP p.l.c. will post 4.09 earnings per share for the current fiscal year.

BP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 9th 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 5.93%. This is a positive change from BP's previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Friday, August 9th. BP's payout ratio is 59.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strategic Blueprint LLC grew its position in BP by 2.6% during the second quarter. Strategic Blueprint LLC now owns 13,200 shares of the oil and gas exploration company's stock worth $477,000 after buying an additional 330 shares during the period. EverSource Wealth Advisors LLC grew its position in BP by 2.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 13,245 shares of the oil and gas exploration company's stock worth $469,000 after buying an additional 333 shares during the period. GAMMA Investing LLC grew its position in shares of BP by 12.4% in the second quarter. GAMMA Investing LLC now owns 3,097 shares of the oil and gas exploration company's stock valued at $112,000 after purchasing an additional 342 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its position in shares of BP by 1.7% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 20,715 shares of the oil and gas exploration company's stock valued at $733,000 after purchasing an additional 345 shares during the last quarter. Finally, SouthState Corp grew its position in shares of BP by 0.3% in the second quarter. SouthState Corp now owns 128,246 shares of the oil and gas exploration company's stock valued at $4,630,000 after purchasing an additional 393 shares during the last quarter. 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.