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

BP (LON:BP) had its target price reduced by equities researchers at Berenberg Bank from GBX 470 ($5.95) to GBX 440 ($5.57) in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage currently has a “hold” rating on the oil and gas exploration company’s stock. Berenberg Bank’s target price would indicate a potential upside of 14.39% from the stock’s previous close.

Several other research firms have also weighed in on BP. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of BP in a research note on Tuesday, September 24th. Bank of America restated a “buy” rating and set a GBX 500 ($6.33) target price on shares of BP in a report on Wednesday, September 4th. Two 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’s stock. According to MarketBeat.com, BP has an average rating of “Hold” and a consensus price target of GBX 618 ($7.82).

BP Trading Down 0.2 %

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

Insider Buying and Selling at BP

In other news, insider Hina Nagarajan bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 bought 100 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was purchased at an average price of GBX 373 ($4.72) per share, with a total value of £373 ($472.09). Insiders bought 5,113 shares of company stock worth $2,077,586 over the last ninety days. Company insiders own 0.26% of the company’s stock.

BP Company Profile

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.