BP (LON:BP) Price Target Cut to GBX 440 by Analysts at Berenberg Bank

BP (LON:BP) had its price target reduced by Berenberg Bank from GBX 470 ($5.95) to GBX 440 ($5.57) in a research note published on Friday, MarketBeat Ratings reports. They currently have a hold rating on the oil and gas exploration company’s stock.

A number of other research firms have also recently issued reports on BP. Bank of America restated a “buy” rating and issued a GBX 500 ($6.33) price objective on shares of BP in a research report on Wednesday, September 4th. JPMorgan Chase & Co. restated an “underweight” rating on shares of BP in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of GBX 618 ($7.82).

BP Trading Down 0.2 %

BP stock traded down GBX 0.80 ($0.01) during mid-day trading on Friday, hitting GBX 384.65 ($4.87). The company’s stock had a trading volume of 18,911,775 shares, compared to its average volume of 8,560,774. The company has a debt-to-equity ratio of 79.91, a current ratio of 1.24 and a quick ratio of 0.62. The stock has a market cap of £60.97 billion, a price-to-earnings ratio of 1,165.61, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. The business has a 50 day moving average price of GBX 393.25 and a 200-day moving average price of GBX 431.50. BP has a 12 month low of GBX 379.70 ($4.81) and a 12 month high of GBX 562.30 ($7.12).

BP Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 7th will be given a dividend of $0.08 per share. This represents a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, November 7th. BP’s dividend payout ratio is currently 6,969.70%.

Insider Activity at BP

In other BP news, insider Hina Nagarajan acquired 5,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of GBX 407 ($5.15) per share, for a total transaction of £20,350 ($25,756.23). Also, insider Murray Auchincloss acquired 100 shares of the business’s stock in a transaction on Monday, November 11th. The stock was acquired at an average price of GBX 373 ($4.72) per share, for a total transaction of £373 ($472.09). Insiders have purchased 5,113 shares of company stock worth $2,077,586 over the last 90 days. 0.26% of the stock is owned by company 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.