Morgan Stanley Upgrades BP plc (ADR) to Overweight

Brokerage firm Morgan Stanley Upgrades its rating on BP plc (ADR)(NYSE:BP). The shares have been rated Overweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Morgan Stanley was issued on Jun 30, 2016.

BP plc (ADR) (BP) shares turned negative on Tuesdays trading session with the shares closing down -0.1 points or -0.28% at a volume of 1,09,28,347. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $36.0364. The peak price level was also seen at $36.0364 while the days lowest was $35.7. Finally the shares closed at $35.9. The 52-week high of the shares is $40.63 while the 52-week low is $27.01. According to the latest information available, the market cap of the company is $111,545 M.

BP plc (ADR)(BP) last announced its earnings results on Apr 26, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $38.51B. Analysts had an estimated revenue of $41.16B. Earnings per share were $-0.16. Analysts had estimated an EPS of $-0.18.

BP p.l.c. (BP) is an integrated oil and gas company. The Company provides its customers with fuel for transportation energy for heat and light lubricants and the petrochemicals products used to make everyday items including paints clothes and packaging. The Company operates in three business segments: Upstream Downstream and Rosneft. The Upstream segment’s activities include oil and natural gas exploration field development and production; midstream transportation storage and processing and the marketing and trading of natural gas including liquefied natural gas (LNG) together with power and natural gas liquids (NGLs). The Company’s Downstream segment’s activities include the refining manufacturing marketing transportation and supply and trading of crude oil petroleum petrochemicals products and related services to wholesale and retail customers. BP’s interest in Rosneft an oil company in Russia is reported as a separate operating segment.

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