Berenberg Bank reiterated their hold rating on shares of BP (LON:BP – Free Report) in a research note issued to investors on Monday, MarketBeat Ratings reports. They currently have a GBX 510 ($6.52) target price on the oil and gas exploration company’s stock.
A number of other equities analysts have also recently weighed in on the company. Bank of America restated a neutral rating and issued a GBX 500 ($6.39) price target on shares of BP in a report on Monday, April 22nd. JPMorgan Chase & Co. restated an underweight rating and issued a GBX 550 ($7.03) price target on shares of BP in a report on Wednesday, July 31st. Barclays restated an overweight rating and issued a GBX 1,000 ($12.78) price target on shares of BP in a report on Monday, April 8th. Royal Bank of Canada restated an outperform rating and issued a GBX 650 ($8.31) price target on shares of BP in a report on Tuesday, June 18th. Finally, Morgan Stanley reiterated an overweight rating on shares of BP in a research note on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus target price of GBX 632.14 ($8.08).
Check Out Our Latest Report on BP
BP Stock Up 0.1 %
BP Increases Dividend
The firm also recently announced a dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.08 per share. This is a boost from BP’s previous dividend of $0.07. This represents a dividend yield of 1.37%. The ex-dividend date of this dividend is Thursday, August 8th. BP’s dividend payout ratio is 5,348.84%.
Insider Activity
In other news, insider Hina Nagarajan purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were acquired at an average cost of GBX 460 ($5.88) per share, with a total value of £23,000 ($29,392.97). In related news, insider Hina Nagarajan bought 5,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were purchased at an average cost of GBX 460 ($5.88) per share, with a total value of £23,000 ($29,392.97). Also, insider Murray Auchincloss sold 454,841 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of GBX 459 ($5.87), for a total value of £2,087,720.19 ($2,668,013.02). In the last three months, insiders acquired 10,012 shares of company stock worth $4,450,511. 0.28% of the stock is currently owned by insiders.
About BP
BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.
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