BP (NYSE:BP) Coverage Initiated at Mizuho

Research analysts at Mizuho began coverage on shares of BP (NYSE:BP) in a report issued on Tuesday, AnalystRatings.net reports. The brokerage set a “neutral” rating and a $27.00 price target on the oil and gas exploration company’s stock. Mizuho’s target price indicates a potential upside of 8.96% from the company’s previous close.

A number of other equities research analysts have also recently commented on BP. Berenberg Bank reissued a “hold” rating on shares of BP in a research note on Wednesday, December 9th. AlphaValue cut shares of BP from a “buy” rating to a “reduce” rating in a research note on Thursday, October 15th. Scotiabank assumed coverage on BP in a research report on Wednesday, September 23rd. They set a “sector perform” rating and a $23.00 price objective for the company. Piper Sandler lowered their target price on BP from $31.00 to $28.00 and set an “overweight” rating on the stock in a report on Friday, January 8th. Finally, HSBC downgraded BP from a “buy” rating to a “hold” rating in a research report on Monday, November 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $26.69.

Shares of NYSE:BP opened at $24.78 on Tuesday. The firm has a market capitalization of $83.67 billion, a price-to-earnings ratio of -3.86, a price-to-earnings-growth ratio of 3.86 and a beta of 0.87. 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 business’s 50 day simple moving average is $21.81 and its 200-day simple moving average is $20.48. BP has a 12 month low of $14.74 and a 12 month high of $39.07.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. RMR Wealth Builders purchased a new stake in BP during the second quarter valued at about $48,000. Evolution Wealth Advisors LLC acquired a new position in shares of BP in the 3rd quarter valued at about $38,000. Banque Cantonale Vaudoise purchased a new stake in shares of BP during the 3rd quarter worth about $47,000. Brand Asset Management Group Inc. increased its position in BP by 50.9% during the 3rd 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 in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in BP by 27.2% in the second quarter. Orion Portfolio Solutions LLC now owns 3,405 shares of the oil and gas exploration company’s stock valued at $79,000 after buying an additional 728 shares during the period. 7.91% of the stock is currently owned by institutional investors and hedge funds.

About BP

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).

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