BP (NYSE:BP) Stock Price Expected to Rise, Raymond James Analyst Says

by · The Cerbat Gem

BP (NYSE:BP – Get Free Report) had its price target raised by investment analysts at Raymond James from $36.00 to $37.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the oil and gas exploration company’s stock. Raymond James’ price objective would suggest a potential upside of 16.55% from the company’s previous close.

BP has been the topic of a number of other research reports. BNP Paribas lowered BP from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 9th. Scotiabank lowered shares of BP from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $42.00 to $36.00 in a research report on Thursday, October 10th. Piper Sandler dropped 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. Redburn Atlantic lowered BP from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley decreased their price objective on shares of BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Eleven equities research analysts have rated the stock with a hold rating, five have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.76.

View Our Latest Stock Report on BP

BP Stock Performance

Shares of NYSE BP traded down $0.04 during trading hours on Friday, reaching $31.75. The stock had a trading volume of 3,115,272 shares, compared to its average volume of 10,135,100. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. BP has a fifty-two week low of $27.82 and a fifty-two week high of $40.40. The firm has a 50-day moving average of $29.56 and a 200-day moving average of $31.87. The firm has a market cap of $84.82 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.20 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. The firm had revenue of $47.25 billion during the quarter, compared to analysts’ expectations of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. BP’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.15 EPS. Equities research analysts predict that BP will post 3.45 earnings per share for the current year.

Hedge Funds Weigh In On BP

Hedge funds and other institutional investors have recently modified their holdings of the company. Butensky & Cohen Financial Security Inc. increased its position in BP by 0.3% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 129,215 shares of the oil and gas exploration company’s stock valued at $3,820,000 after acquiring an additional 358 shares during the period. ST Germain D J Co. Inc. grew its position in 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 buying an additional 377 shares in the last quarter. Sunbelt Securities Inc. increased its stake in BP by 3.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 11,459 shares of the oil and gas exploration company’s stock valued at $360,000 after buying an additional 415 shares during the period. Atlas Brown Inc. lifted its stake in shares of BP by 1.2% in the 4th quarter. Atlas Brown Inc. now owns 37,338 shares of the oil and gas exploration company’s stock worth $1,104,000 after acquiring an additional 437 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of BP by 3.4% during the second quarter. EverSource Wealth Advisors LLC now owns 15,087 shares of the oil and gas exploration company’s stock valued at $534,000 after acquiring an additional 498 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

About BP

(Get Free Report)

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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