BP’s (BP) “Outperform” Rating Reiterated at Credit Suisse Group

BP (NYSE:BP)‘s stock had its “outperform” rating reissued by analysts at Credit Suisse Group in a research report issued on Wednesday, The Fly reports.

A number of other research firms also recently commented on BP. Morgan Stanley upgraded BP from an “underweight” rating to an “equal weight” rating in a report on Monday, November 2nd. Royal Bank of Canada upgraded BP from an “underperform” rating to a “sector perform” rating in a report on Tuesday, November 17th. Barclays restated an “overweight” rating on shares of BP in a report on Tuesday, December 15th. BidaskClub raised shares of BP from a “sell” rating to a “hold” rating in a research report on Thursday, January 7th. Finally, Raymond James reaffirmed a “buy” rating and set a $28.00 price target on shares of BP in a research report on Tuesday, September 15th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. BP presently has a consensus rating of “Hold” and a consensus target price of $26.69.

BP traded down $0.22 during trading on Wednesday, hitting $24.79. The company’s stock had a trading volume of 970,973 shares, compared to its average volume of 18,754,037. The firm’s 50 day moving average price is $21.75 and its 200-day moving average price is $20.47. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.22 and a quick ratio of 0.98. The stock has a market cap of $83.70 billion, a PE ratio of -3.86, a PEG ratio of 3.86 and a beta of 0.87. BP has a twelve month low of $14.74 and a twelve month high of $39.07.

BP (NYSE:BP) last issued its quarterly earnings results on Sunday, November 1st. The oil and gas exploration company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.07. The company had revenue of $44.20 billion during the quarter, compared to the consensus estimate of $45.84 billion. BP had a negative return on equity of 3.64% and a negative net margin of 10.45%. BP’s revenue was down 36.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 EPS. Equities analysts anticipate that BP will post -1.56 earnings per share for the current year.

A number of large investors have recently bought and sold shares of BP. RMR Wealth Builders bought a new position in shares of BP during the second quarter worth about $48,000. Evolution Wealth Advisors LLC bought a new position in shares of BP during the third quarter worth about $38,000. Banque Cantonale Vaudoise bought a new position in shares of BP during the third quarter worth about $47,000. Brand Asset Management Group Inc. lifted its position in shares of BP by 50.9% during the third quarter. Brand Asset Management Group Inc. now owns 3,017 shares of the oil and gas exploration company’s stock worth $53,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in shares of BP by 27.2% during the second quarter. Orion Portfolio Solutions LLC now owns 3,405 shares of the oil and gas exploration company’s stock worth $79,000 after purchasing an additional 728 shares during the last quarter. 7.91% of the stock is owned by institutional investors.

BP Company Profile

BP PLC engages in the energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, and 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).

Recommended Story: Why do companies issue convertible shares?

The Fly

Analyst Recommendations for BP (NYSE:BP)

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