BP (NYSE:BP) Rating Lowered to Neutral at Credit Suisse Group

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Credit Suisse Group lowered shares of BP (NYSE:BP) from an outperform rating to a neutral rating in a research note published on Wednesday morning, Benzinga reports. Credit Suisse Group currently has $41.06 target price on the oil and gas exploration company’s stock.

Separately, Royal Bank of Canada assumed coverage on Robert Half International in a research note on Tuesday, April 16th. They set a sector perform rating on the stock. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. BP currently has an average rating of Buy and an average price target of $52.54.

Shares of NYSE:BP opened at $41.21 on Wednesday. The company’s 50-day moving average is $41.50. BP has a 12-month low of $36.28 and a 12-month high of $47.16. The company has a market capitalization of $137.77 billion, a PE ratio of 11.02, a P/E/G ratio of 1.81 and a beta of 0.76. The company has a quick ratio of 0.72, a current ratio of 1.02 and a debt-to-equity ratio of 0.61.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. BP had a return on equity of 12.19% and a net margin of 3.26%. The firm had revenue of $66.32 billion for the quarter, compared to analysts’ expectations of $64.85 billion. During the same period last year, the firm earned $0.13 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, research analysts expect that BP will post 3.22 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 10th were paid a dividend of $0.615 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.97%. BP’s dividend payout ratio (DPR) is currently 64.21%.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Perkins Coie Trust Co grew its stake in shares of BP by 66.7% in the first quarter. Perkins Coie Trust Co now owns 630 shares of the oil and gas exploration company’s stock worth $28,000 after purchasing an additional 252 shares during the last quarter. Marino Stram & Associates LLC grew its stake in shares of BP by 71.0% in the first quarter. Marino Stram & Associates LLC now owns 667 shares of the oil and gas exploration company’s stock worth $29,000 after purchasing an additional 277 shares during the last quarter. Horan Capital Advisors LLC. bought a new stake in shares of BP in the first quarter worth about $35,000. Bray Capital Advisors grew its stake in shares of BP by 91.7% in the first quarter. Bray Capital Advisors now owns 813 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 389 shares during the last quarter. Finally, Dubuque Bank & Trust Co. grew its stake in shares of BP by 35.8% in the first quarter. Dubuque Bank & Trust Co. now owns 910 shares of the oil and gas exploration company’s stock worth $39,000 after purchasing an additional 240 shares during the last quarter. 11.02% of the stock is currently owned by institutional investors.

BP Company Profile

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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Analyst Recommendations for BP (NYSE:BP)

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