BP (LON:BP) PT Lowered to GBX 600 at Berenberg Bank

BP (LON:BP) had its price objective decreased by Berenberg Bank from GBX 620 ($8.10) to GBX 600 ($7.84) in a research report released on Monday morning, Borsen Zeitung reports. Berenberg Bank currently has a buy rating on the oil and gas exploration company’s stock.

BP has been the subject of several other reports. Morgan Stanley reaffirmed an overweight rating on shares of BP in a research note on Friday, August 30th. Goldman Sachs Group reaffirmed a conviction-buy rating on shares of BP in a research note on Tuesday, August 13th. UBS Group reaffirmed a buy rating on shares of BP in a research note on Wednesday, August 28th. HSBC set a GBX 600 ($7.84) price objective on BP and gave the company a buy rating in a research note on Wednesday, September 11th. Finally, Barclays set a GBX 700 ($9.15) price objective on BP and gave the company a buy rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of GBX 646.56 ($8.45).

LON:BP opened at GBX 516.90 ($6.75) on Monday. The firm has a market capitalization of $105.22 billion and a price-to-earnings ratio of 11.80. BP has a 1 year low of GBX 5.08 ($0.07) and a 1 year high of GBX 603.20 ($7.88). The business has a 50 day simple moving average of GBX 507.27 and a 200-day simple moving average of GBX 537.85. The company has a debt-to-equity ratio of 75.21, a current ratio of 1.07 and a quick ratio of 0.69.

The firm also recently declared a dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 8th will be issued a $0.10 dividend. The ex-dividend date is Thursday, August 8th. This represents a dividend yield of 1.59%. BP’s payout ratio is 0.75%.

In other BP news, insider Brian Gilvary purchased 63 shares of BP stock in a transaction dated Monday, August 12th. The shares were purchased at an average cost of GBX 503 ($6.57) per share, for a total transaction of £316.89 ($414.07). Over the last quarter, insiders bought 184 shares of company stock worth $95,172.

About BP

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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Analyst Recommendations for BP (LON:BP)

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