Raymond James Boosts BP (NYSE:BP) Price Target to $37.00

BP (NYSE:BP) had its target price boosted by research analysts at Raymond James from $36.00 to $37.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the oil and gas exploration company’s stock. Raymond James’ price objective suggests a potential upside of 16.72% from the stock’s previous close.

A number of other research firms have also recently weighed in on BP. StockNews.com raised shares of BP from a “hold” rating to a “buy” rating in a research note on Friday, January 10th. Redburn Atlantic cut BP from a “buy” rating to a “neutral” rating in a report on Tuesday, September 24th. Wells Fargo & Company cut their price target on BP from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Royal Bank of Canada reiterated a “sector perform” rating on shares of BP in a report on Tuesday, January 14th. Finally, BNP Paribas lowered shares of BP from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 9th. Eleven analysts have rated the stock with a hold rating, five have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.76.

BP Trading Down 0.3 %

Shares of BP stock opened at $31.70 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22. BP has a fifty-two week low of $27.82 and a fifty-two week high of $40.40. The company has a market cap of $84.70 billion, a PE ratio of 33.37, a P/E/G ratio of 2.20 and a beta of 0.64. The stock’s fifty day moving average price is $29.65 and its two-hundred day moving average price is $31.84.

BP (NYSE:BP) last released its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. BP had a return on equity of 12.91% and a net margin of 1.36%. The firm had revenue of $47.25 billion for the quarter, compared to analysts’ expectations of $52.05 billion. During the same quarter in the previous year, the business posted $1.15 earnings per share. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. Equities analysts predict that BP will post 3.45 EPS for the current fiscal year.

Institutional Trading of BP

Several large investors have recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in BP by 2.0% during the second quarter. Rhumbline Advisers now owns 29,235 shares of the oil and gas exploration company’s stock worth $1,055,000 after acquiring an additional 571 shares in the last quarter. Argent Trust Co grew its stake in shares of BP by 10.1% in the 2nd quarter. Argent Trust Co now owns 13,571 shares of the oil and gas exploration company’s stock valued at $490,000 after buying an additional 1,250 shares during the period. Bridges Investment Management Inc. increased its position in BP by 20.2% in the 2nd quarter. Bridges Investment Management Inc. now owns 8,638 shares of the oil and gas exploration company’s stock valued at $312,000 after buying an additional 1,450 shares in the last quarter. Waters Parkerson & CO. LLC bought a new position in BP in the second quarter worth approximately $264,000. Finally, Gabelli Funds LLC grew its stake in BP by 2.2% in the second quarter. Gabelli Funds LLC now owns 360,050 shares of the oil and gas exploration company’s stock valued at $12,998,000 after acquiring an additional 7,850 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

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.