BP (NYSE:BP) Upgraded to “Buy” by Grupo Santander

Grupo Santander upgraded shares of BP (NYSE:BP) from a hold rating to a buy rating in a report released on Wednesday morning, The Fly reports.

BP has been the subject of a number of other research reports. Jefferies Financial Group upgraded shares of BP from a hold rating to a buy rating and raised their target price for the stock from $46.30 to $48.60 in a research note on Wednesday, July 31st. BMO Capital Markets initiated coverage on shares of BP in a research note on Tuesday, August 20th. They set an outperform rating and a $53.00 target price for the company. ValuEngine cut shares of BP from a hold rating to a sell rating in a research note on Thursday, July 18th. Credit Suisse Group cut shares of BP from an outperform rating to a neutral rating and set a $41.06 target price for the company. in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. restated a buy rating on shares of BP in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $52.04.

Shares of BP traded down $0.13 during midday trading on Wednesday, reaching $37.67. The stock had a trading volume of 5,299,082 shares, compared to its average volume of 5,830,329. The firm has a 50 day simple moving average of $37.42 and a 200-day simple moving average of $41.21. BP has a one year low of $35.73 and a one year high of $47.16. The firm has a market cap of $127.33 billion, a PE ratio of 9.91, a P/E/G ratio of 1.22 and a beta of 0.77. The company has a current ratio of 1.07, a quick ratio of 0.77 and a debt-to-equity ratio of 0.65.



BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. The company had revenue of $73.75 billion during the quarter, compared to the consensus estimate of $79.79 billion. BP had a net margin of 2.97% and a return on equity of 12.12%. As a group, research analysts forecast that BP will post 3.06 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of BP. SG Americas Securities LLC lifted its stake in shares of BP by 120.8% during the 1st quarter. SG Americas Securities LLC now owns 12,498 shares of the oil and gas exploration company’s stock worth $546,000 after purchasing an additional 72,723 shares during the period. Janus Henderson Group PLC lifted its stake in shares of BP by 2.0% during the 1st quarter. Janus Henderson Group PLC now owns 506,062 shares of the oil and gas exploration company’s stock worth $22,125,000 after purchasing an additional 9,776 shares during the period. Cornerstone Advisors Inc. lifted its stake in shares of BP by 54.6% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,048 shares of the oil and gas exploration company’s stock worth $90,000 after purchasing an additional 723 shares during the period. Stevens Capital Management LP purchased a new position in shares of BP during the 1st quarter worth $1,282,000. Finally, Cetera Advisor Networks LLC lifted its stake in shares of BP by 4.5% during the 1st quarter. Cetera Advisor Networks LLC now owns 48,309 shares of the oil and gas exploration company’s stock worth $2,110,000 after purchasing an additional 2,088 shares during the period. Institutional investors and hedge funds own 10.77% of the company’s stock.

About 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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