BP plc ADR (BP) Volatility Spurs A Quest For Clarity

Fisher Asset Management LLC recently announced the acquisition of new stake in BP plc ADR (NYSE:BP). The institutional investor has increased its shareholding in the Energy company by 4.18% to 18.37 million shares with purchase of 0.74 million shares. This fresh investment now brings its stake to 0.64% valued currently at $650.3 million. In addition, Acadian Asset Management LLC raised its holdings by 4.25 million to 16.72 million shares. And Dimensional Fund Advisors LP has lifted its position by 4.59% or 0.53 million shares – to 12.08 million shares.

With over 8.56 million BP plc ADR (BP) shares trading Friday and a closing price of $34.86 on the day, the dollar volume was approximately $298.41 million. The shares have shown a negative half year performance of -1.86% and its price on 01/12/24 gained nearly 0.72%. Currently, there are 3.00B common shares owned by the public and among those 2.82B shares have been available to trade.

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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 28 analysts who have offered their price forecasts for BP have a consensus price objective of $7.40. The analysts have set the share’s price value over the next 12 months at a high of $12.63 and a low of $6.29. The average price target is 21.42% above its recent price level and a downside to the estimated low will see the stock lose -454.21% over that period. But a downside of -176.01% will see the stock hit the forecast high price target while median target price for the stock is $7.17.

The top 3 mutual fund holders in BP plc ADR are DFA International Core Equity Por, John Hancock III – Disciplined Va, and Vanguard Energy Fund. DFA International Core Equity Por owns 3.57 million shares of the company’s stock, all valued at over $126.44 million. Vanguard Energy Fund sold 61919.0 shares to bring its total holdings to over 3.27 million shares at a value of $115.89 million. Vanguard Energy Fund now owns shares totaling to 0.11% of the shares outstanding.

Shares of BP plc ADR (NYSE: BP) opened at $35.11, up $0.5 from a prior closing price of $34.61. The company’s stock has a 5-day price change of -3.25% and -11.28% over the past three months. BP shares are trading -1.53% year to date (YTD), with the 12-month market performance down to -0.51% lower. It has a 12-month low price of $33.62 and touched a high of $41.38 over the same period. BP has an average intraday trading volume of 8.55 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.39%, -1.83%, and -5.45% respectively.

Institutional ownership of BP plc ADR (NYSE: BP) shares accounts for 11.64% of the company’s 3.00B shares outstanding. Mutual fund holders own 2.16%, while other institutional holders and individual stakeholders account for 9.24% and — respectively.

It has a market capitalization of $98.50B and a beta (3y monthly) value of 0.69. The stock’s trailing 12-month PE ratio is 4.12, while the earnings-per-share (ttm) stands at $8.46. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.48% over the week and 1.38% over the month.

Analysts forecast that BP plc ADR (BP) will achieve an EPS of $1.1 for the current quarter, $1.02 for the next quarter and $4.74 for 2024. The lowest estimate earnings-per-share for the quarter is $0.95 while analysts give the company a high EPS estimate of $1.72. Comparatively, EPS for the current quarter was $1.56 a year ago. Earnings per share for the fiscal year are expected to decrease by -44.04%, and 0.63% over the next financial year.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 28 brokerage firm advisors rate BP plc ADR (BP) as a “Strong Buy” at a consensus score of 1.93. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 9 of the 28 advise that investors “hold,” and 1 rated it as a “Sell.”

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