BP (NYSE:BP) Downgraded to "Hold" Rating by TD Cowen

BP (NYSE:BP - Get Free Report) was downgraded by analysts at TD Cowen from a "buy" rating to a "hold" rating in a research report issued on Wednesday, Marketbeat reports. They presently have a $40.00 target price on the oil and gas exploration company's stock. TD Cowen's target price indicates a potential upside of 15.62% from the stock's previous close.

Several other brokerages have also issued reports on BP. Wells Fargo & Company boosted their price target 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 decreased their price target on shares of BP from $34.70 to $31.80 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Raymond James boosted their price target on shares of BP from $36.00 to $37.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Piper Sandler decreased their price target on shares of BP from $36.00 to $32.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised shares of BP from an "underweight" rating to a "neutral" rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, two have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $37.48.

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BP Trading Down 0.4 %

Shares of BP stock traded down $0.16 on Wednesday, hitting $34.60. 40,923,538 shares of the company's stock traded hands, compared to its average volume of 9,193,743. The firm's 50-day moving average price is $32.70 and its two-hundred day moving average price is $31.25. The stock has a market capitalization of $92.62 billion, a PE ratio of 432.49, a price-to-earnings-growth ratio of 1.12 and a beta of 0.58. BP has a one year low of $27.82 and a one 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 - Get Free Report) last issued its earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. On average, research analysts expect that BP will post 3.53 EPS for the current fiscal year.

Hedge Funds Weigh In On BP

Large investors have recently modified their holdings of the business. Asset Planning Inc acquired a new position in shares of BP during the 4th quarter worth about $40,000. Bank & Trust Co boosted its stake in shares of BP by 404.8% during the 4th quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company's stock worth $63,000 after buying an additional 1,700 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of BP by 41.0% in the 4th quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company's stock valued at $66,000 after purchasing an additional 646 shares during the period. Anchor Investment Management LLC raised its holdings in shares of BP by 58.7% in the 3rd quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company's stock valued at $98,000 after purchasing an additional 1,154 shares during the period. Finally, Wellington Shields Capital Management LLC raised its holdings in shares of BP by 26.9% in the 4th quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company's stock valued at $223,000 after purchasing an additional 1,600 shares during the period. 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.