Berenberg Bank Cuts BP (LON:BP) Price Target to GBX 440

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

Several other brokerages have also weighed in on BP. JPMorgan Chase & Co. reissued an “underweight” rating on shares of BP in a report on Tuesday, September 24th. Bank of America reiterated a “buy” rating and issued a GBX 500 ($6.33) price target on shares of BP in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of GBX 618 ($7.82).

BP Stock Down 0.2 %

Shares of LON BP traded down GBX 0.80 ($0.01) during midday trading on Friday, reaching GBX 384.65 ($4.87). 18,911,775 shares of the company’s stock were exchanged, compared to its average volume of 8,560,774. The stock has a market capitalization of £60.97 billion, a PE ratio of 1,165.61, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. BP has a 52-week low of GBX 379.70 ($4.81) and a 52-week high of GBX 562.30 ($7.12). The company has a debt-to-equity ratio of 79.91, a quick ratio of 0.62 and a current ratio of 1.24. The business’s fifty day moving average price is GBX 393.25 and its two-hundred day moving average price is GBX 431.50.

BP Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, November 7th will be paid a $0.08 dividend. This represents a dividend yield of 1.54%. The ex-dividend date of this dividend is Thursday, November 7th. BP’s dividend payout ratio (DPR) is currently 6,969.70%.

Insider Activity at BP

In other BP news, insider Murray Auchincloss purchased 100 shares of the stock in a transaction dated Monday, November 11th. The stock was bought at an average price of GBX 373 ($4.72) per share, for a total transaction of £373 ($472.09). Also, insider Hina Nagarajan bought 5,000 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of GBX 407 ($5.15) per share, with a total value of £20,350 ($25,756.23). Insiders acquired 5,113 shares of company stock valued at $2,077,586 in the last three months. Corporate insiders own 0.26% of the company’s stock.

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.