BP (BP) Upgraded at Societe Generale

BP (NYSE:BP) was upgraded by investment analysts at Societe Generale from a “hold” rating to a “buy” rating in a report issued on Monday, Marketbeat reports.

Several other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of BP from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective on the stock in a report on Monday, January 29th. Piper Jaffray Companies reiterated a “buy” rating and issued a $51.00 price objective on shares of BP in a report on Wednesday, January 24th. Vetr downgraded shares of BP from a “buy” rating to a “hold” rating and set a $41.28 price objective on the stock. in a report on Tuesday, December 12th. TheStreet upgraded shares of BP from a “c” rating to a “b” rating in a report on Wednesday, November 8th. Finally, Scotiabank restated a “buy” rating and issued a $39.00 price target on shares of BP in a research note on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. BP currently has an average rating of “Hold” and an average target price of $40.05.

BP (NYSE:BP) opened at $39.69 on Monday. BP has a fifty-two week low of $33.10 and a fifty-two week high of $44.62. The company has a market cap of $131,430.00, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 0.86.

BP (NYSE:BP) last released its quarterly earnings data on Tuesday, February 6th. The oil and gas exploration company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). BP had a net margin of 1.39% and a return on equity of 6.19%. The company had revenue of $67.82 billion during the quarter, compared to analyst estimates of $56.85 billion. During the same quarter in the prior year, the firm earned $0.13 earnings per share. BP’s revenue for the quarter was up 33.0% on a year-over-year basis. equities research analysts predict that BP will post 2.81 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in BP. Stonehearth Capital Management LLC acquired a new position in shares of BP in the fourth quarter valued at about $115,000. Itau Unibanco Holding S.A. grew its stake in shares of BP by 121.3% in the fourth quarter. Itau Unibanco Holding S.A. now owns 2,740 shares of the oil and gas exploration company’s stock valued at $115,000 after acquiring an additional 1,502 shares in the last quarter. Pinnacle Wealth Planning Services Inc. bought a new stake in BP during the fourth quarter worth about $129,000. Cable Hill Partners LLC lifted its position in BP by 639.9% during the third quarter. Cable Hill Partners LLC now owns 3,559 shares of the oil and gas exploration company’s stock worth $137,000 after purchasing an additional 3,078 shares during the period. Finally, Truewealth LLC bought a new stake in BP during the fourth quarter worth about $138,000. Institutional investors and hedge funds own 10.02% of the company’s stock.

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About BP

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 (NYSE:BP)

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