BP (BP) Downgraded to “Underperform” at Santander

Santander downgraded shares of BP (NYSE:BP) from a hold rating to an underperform rating in a report published on Monday.

Several other research analysts have also recently issued reports on the stock. Citigroup upgraded shares of BP from a neutral rating to a buy rating in a report on Thursday, March 29th. Goldman Sachs Group upgraded shares of BP from a neutral rating to a buy rating and upped their target price for the company from $43.91 to $54.00 in a report on Monday, April 23rd. Zacks Investment Research cut shares of BP from a buy rating to a hold rating in a report on Friday, March 23rd. Piper Jaffray Companies restated a buy rating and issued a $51.00 target price on shares of BP in a report on Wednesday, January 24th. Finally, Royal Bank of Canada upgraded shares of BP from a sector perform rating to an outperform rating and upped their target price for the company from $33.10 to $40.10 in a report on Monday, February 26th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $44.22.

NYSE BP opened at $45.75 on Monday. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. BP has a 52 week low of $33.90 and a 52 week high of $47.83. The company has a market cap of $155.85 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.07 and a beta of 0.89.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, May 1st. The oil and gas exploration company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.67 by $0.11. BP had a net margin of 1.71% and a return on equity of 7.22%. The company had revenue of $68.17 billion during the quarter, compared to analysts’ expectations of $69.40 billion. During the same quarter in the previous year, the business posted $0.08 EPS. The firm’s revenue was up 22.0% on a year-over-year basis. research analysts expect that BP will post 3.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 22nd. Investors of record on Friday, May 11th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 10th. This represents a $2.40 annualized dividend and a yield of 5.25%. BP’s dividend payout ratio (DPR) is 126.60%.

Hedge funds have recently added to or reduced their stakes in the stock. Elmwood Wealth Management Inc. purchased a new stake in BP in the 1st quarter valued at $107,000. Itau Unibanco Holding S.A. raised its position in BP by 121.3% in the 4th 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 purchasing an additional 1,502 shares during the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new stake in BP in the 4th quarter valued at $129,000. Truewealth LLC purchased a new stake in BP in the 4th quarter valued at $138,000. Finally, Smart Portfolios LLC purchased a new stake in BP in the 1st quarter valued at $142,000. Hedge funds and other institutional investors own 10.32% of the company’s stock.

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).

Analyst Recommendations for BP (NYSE:BP)

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