BP (NYSE:BP) Stock Upgrade
In a note revealed to investors and clients on Monday morning, research analysts at the equities division of Scotia Howard Weil hiked their rating for shares of BP (NYSE:BP) from a “Sector Perform” to a solid “Focus Stock”. They now have a $42.00 TP on BP or a 39.72% upside from the current share price.
From a total of 9 analysts covering BP (NYSE:BP) stock, 4 rate it a ”Buy”, 1 a “Sell”, and 7 a ”Hold”. This means that 33% of the ratings are positive. The highest target price is $45 while the lowest target price is $30.23. The mean of all analyst targets is $37.51 with a 36.35% above today’s ($30.07) stock price. BP was the topic of 20 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Argus Research maintained shares on November 27 with “Buy” rating. Morgan Stanley upgraded BP stock in a recent report from November 2 to “Equalweight” rating. Finally, BMO Capital Markets initiated the stock with “Outperform” rating in a report issued on a September 28.
Approximately 7.64M shares of stock traded hands or 14.37% up from the average. BP plc (ADR) (NYSE:BP) has declined 27.69% since May 11, 2015 and is downtrending. It has underperformed by 23.27% the S&P500.
BP p.l.c. is an integrated oil and gas company. The company has a market cap of $93.47 billion. The Firm provides its clients with fuel for transportation, energy for heat and light, lubricants and the petrochemicals products used to make everyday items, including paints, clothes and packaging. It currently has negative earnings. The Firm operates in three business divisions: Upstream, Downstream and Rosneft.
According to Zacks Investment Research, “BP p.l.c. is the holding company of one of the world’s largest petroleum and petrochemicals groups. Their main activities are exploration and production of crude oil and natural gas; refining, marketing, supply and transportation; and manufacturing and marketing of petrochemicals. They have a growing activity in gas and power and in solar power generation. BP has well-established operations in Europe, North and South America, Australasia and Africa.”