BP (BP) Shares Gap Up to $41.03

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BP plc (NYSE:BP) gapped up prior to trading on Tuesday . The stock had previously closed at $40.14, but opened at $41.03. BP shares last traded at $42.21, with a volume of 9480477 shares.

BP has been the subject of a number of research analyst reports. HSBC upgraded shares of BP to a “buy” rating in a research report on Monday, July 30th. Redburn Partners upgraded shares of BP from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Wednesday, October 3rd. Berenberg Bank initiated coverage on shares of BP in a research report on Tuesday, September 11th. They issued a “buy” rating for the company. Goldman Sachs Group upgraded shares of BP from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research downgraded shares of BP from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. BP presently has an average rating of “Buy” and an average price target of $53.44.

The firm has a market cap of $136.69 billion, a price-to-earnings ratio of 22.45, a price-to-earnings-growth ratio of 0.68 and a beta of 0.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.80 and a current ratio of 1.10.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.85 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.85. The business had revenue of $75.44 billion for the quarter, compared to the consensus estimate of $82.25 billion. BP had a net margin of 2.55% and a return on equity of 9.28%. BP’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. Equities analysts forecast that BP plc will post 3.4 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the company. Squar Milner Financial Services LLC raised its holdings in shares of BP by 250.4% during the 3rd quarter. Squar Milner Financial Services LLC now owns 2,835 shares of the oil and gas exploration company’s stock valued at $131,000 after purchasing an additional 2,026 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of BP by 1,375.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,950 shares of the oil and gas exploration company’s stock valued at $135,000 after purchasing an additional 2,750 shares in the last quarter. Clarus Wealth Advisors bought a new position in shares of BP during the 2nd quarter valued at $165,000. Destination Wealth Management raised its holdings in shares of BP by 2,782.4% during the 2nd quarter. Destination Wealth Management now owns 4,093 shares of the oil and gas exploration company’s stock valued at $187,000 after purchasing an additional 3,951 shares in the last quarter. Finally, Wall Street Access Asset Management LLC bought a new position in shares of BP during the 3rd quarter valued at $201,000. Institutional investors and hedge funds own 10.72% of the company’s stock.

About BP (NYSE:BP)

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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