why BP plc ADR [BP] is a Good Choice for Investors After New Price Target of $44.41

BP plc ADR [NYSE: BP] jumped around 0.08 points on Monday, while shares priced at $36.49 at the close of the session, up 0.22%. The company report on March 11, 2024 at 8:00 AM that BP p.l.c. Announces Early Tender Results of Cash Tender Offer for Up to $1.3 Billion Aggregate Principal Amount of One Series of USD Notes.

BP p.l.c. (“BP”) (NYSE: BP) (LSE: BP) today announced the early tender results for the previously announced cash tender offer by its wholly-owned subsidiary BP Capital Markets p.l.c. (the “Offeror”) to purchase for cash any validly tendered (and not validly withdrawn) and accepted Notes up to an aggregate principal amount of $1,300,000,000 (the “Offer Cap”) of Notes issued by the Offeror (the “Tender Offer”). The Tender Offer is being made upon the terms and subject to the conditions set forth in the offer to purchase dated February 26, 2024 (the “Offer to Purchase”). Terms not defined in this announcement have the meanings given to them in the Offer to Purchase.

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As of the previously announced early tender deadline of 5:00 p.m., New York City time, on Friday, March 8, 2024 (the “Early Tender Time”), the Offeror has been advised by the Tender and Information Agent, D.F. King & Co., that an aggregate principal amount of $1,640,940,000 of Notes had been validly tendered and not withdrawn in the Tender Offer, representing approximately 65.6% of the outstanding Notes. The withdrawal deadline relating to the Tender Offer occurred at 5:00 p.m., New York City time, on Friday, March 8, 2024 (the “Withdrawal Deadline”). Notes previously tendered and not withdrawn prior to the Withdrawal Deadline may no longer be withdrawn, except as required by law.

Compared to the average trading volume of 8.80M shares, BP reached a trading volume of 7313790 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about BP plc ADR [BP]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BP shares is $44.41 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BP stock is a recommendation set at 1.83. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for BP plc ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 04, 2024. The new note on the price target was released on November 01, 2023, representing the official price target for BP plc ADR stock.

The Average True Range (ATR) for BP plc ADR is set at 0.53, with the Price to Sales ratio for BP stock in the period of the last 12 months amounting to 0.49. The Price to Book ratio for the last quarter was 1.46, with the Price to Cash per share for the same quarter was set at 12.09. Price to Free Cash Flow for BP in the course of the last twelve months was 5.76 with Quick ratio for the last quarter at 0.94.

How has BP stock performed recently?

BP plc ADR [BP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.30. With this latest performance, BP shares gained by 0.77% in over the last four-week period, additionally sinking by -5.64% over the last 6 months – not to mention a drop of -7.24% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BP stock in for the last two-week period is set at 62.56, with the RSI for the last a single of trading hit 69.28, and the three-weeks RSI is set at 58.50 for BP plc ADR [BP]. The present Moving Average for the last 50 days of trading for this stock 35.38, while it was recorded at 36.31 for the last single week of trading, and 36.29 for the last 200 days.

BP plc ADR [BP]: Deeper insight into the fundamentals

BP plc ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.94 and a Current Ratio set at 1.21.

Earnings analysis for BP plc ADR [BP]

With the latest financial reports released by the company, BP plc ADR posted 1.62/share EPS, while the average EPS was predicted by analysts to be reported at 1.43/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 13.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BP.

Insider trade positions for BP plc ADR [BP]

The top three institutional holders of BP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BP stock with ownership which is approximately 5.8325%.