Jefferies Group LLC Reiterates “Hold” Rating for BP p.l.c. (NYSE:BP)

BP p.l.c. (NYSE:BP)‘s stock had its “hold” rating reissued by equities researchers at Jefferies Group LLC in a note issued to investors on Friday. They currently have a $35.90 price objective on the oil and gas exploration company’s stock. Jefferies Group LLC’s price target indicates a potential upside of 2.81% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Scotiabank reissued a “buy” rating and set a $38.00 price objective on shares of BP p.l.c. in a research note on Monday, March 27th. Deutsche Bank AG raised shares of BP p.l.c. from a “hold” rating to a “buy” rating in a research note on Tuesday, April 4th. Zacks Investment Research lowered shares of BP p.l.c. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 11th. Morgan Stanley reissued a “buy” rating on shares of BP p.l.c. in a research note on Thursday, April 13th. Finally, Citigroup Inc. lowered shares of BP p.l.c. from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $38.88 to $30.66 in a research note on Wednesday, April 19th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. BP p.l.c. presently has a consensus rating of “Buy” and an average price target of $36.10.

Shares of BP p.l.c. (NYSE:BP) opened at 34.92 on Friday. BP p.l.c. has a 12-month low of $32.50 and a 12-month high of $38.68. The company has a 50 day moving average of $35.80 and a 200-day moving average of $35.41. The company has a market capitalization of $114.45 billion, a P/E ratio of 51.96 and a beta of 0.94.

BP p.l.c. (NYSE:BP) last issued its earnings results on Tuesday, May 2nd. The oil and gas exploration company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.08. The company had revenue of $55.86 billion for the quarter, compared to analyst estimates of $59.87 billion. BP p.l.c. had a net margin of 1.06% and a return on equity of 3.72%. The company’s revenue for the quarter was up 45.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. On average, equities analysts anticipate that BP p.l.c. will post $1.59 EPS for the current fiscal year.

WARNING: “Jefferies Group LLC Reiterates “Hold” Rating for BP p.l.c. (NYSE:BP)” was published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this piece on another site, it was stolen and republished in violation of United States & international trademark & copyright legislation. The correct version of this piece can be accessed at https://sportsperspectives.com/2017/07/18/jefferies-group-llc-reiterates-hold-rating-for-bp-p-l-c-nysebp.html.

A number of institutional investors have recently added to or reduced their stakes in BP. Morgan Stanley boosted its position in BP p.l.c. by 11.2% in the first quarter. Morgan Stanley now owns 6,186,085 shares of the oil and gas exploration company’s stock worth $213,544,000 after buying an additional 623,612 shares during the period. HighPoint Advisor Group LLC boosted its position in BP p.l.c. by 9.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 61,404 shares of the oil and gas exploration company’s stock worth $2,102,000 after buying an additional 5,086 shares during the period. Orbis Allan Gray Ltd boosted its position in BP p.l.c. by 68.8% in the fourth quarter. Orbis Allan Gray Ltd now owns 827,125 shares of the oil and gas exploration company’s stock worth $30,918,000 after buying an additional 337,242 shares during the period. Heritage Investors Management Corp boosted its position in BP p.l.c. by 0.9% in the first quarter. Heritage Investors Management Corp now owns 22,965 shares of the oil and gas exploration company’s stock worth $793,000 after buying an additional 200 shares during the period. Finally, Beacon Financial Group boosted its position in BP p.l.c. by 2.5% in the first quarter. Beacon Financial Group now owns 8,154 shares of the oil and gas exploration company’s stock worth $281,000 after buying an additional 198 shares during the period. 9.99% of the stock is owned by hedge funds and other institutional investors.

About BP p.l.c.

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

Analyst Recommendations for BP p.l.c. (NYSE:BP)

Receive News & Ratings for BP p.l.c. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP p.l.c. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply