BP (LON:BP) Rating Reiterated by Berenberg Bank

Berenberg Bank reaffirmed their hold rating on shares of BP (LON:BP) in a research note released on Monday, Marketbeat reports. The brokerage currently has a GBX 510 ($6.52) price objective on the oil and gas exploration company’s stock.

Several other brokerages also recently commented on BP. Bank of America reissued a neutral rating and issued a GBX 500 ($6.39) target price on shares of BP in a report on Monday, April 22nd. Royal Bank of Canada restated an outperform rating and issued a GBX 650 ($8.31) price objective on shares of BP in a research report on Tuesday, June 18th. Morgan Stanley restated an overweight rating on shares of BP in a research report on Tuesday, May 14th. JPMorgan Chase & Co. reiterated an underweight rating and set a GBX 550 ($7.03) target price on shares of BP in a research report on Wednesday, July 31st. Finally, Barclays restated an overweight rating and issued a GBX 1,000 ($12.78) price objective on shares of BP in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of GBX 632.14 ($8.08).

BP Price Performance

LON BP opened at GBX 431.25 ($5.51) on Monday. BP has a fifty-two week low of GBX 441.05 ($5.64) and a fifty-two week high of GBX 562.30 ($7.19). The stock’s 50-day moving average is GBX 462.65 and its two-hundred day moving average is GBX 480.25. The company has a debt-to-equity ratio of 75.43, a current ratio of 1.23 and a quick ratio of 0.62. The firm has a market cap of £72.11 billion, a P/E ratio of 1,016.86, a price-to-earnings-growth ratio of 0.35 and a beta of 0.54.

BP Increases Dividend

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 dividend of $0.08 per share. This represents a dividend yield of 1.37%. The ex-dividend date is Thursday, August 8th. This is a positive change from BP’s previous dividend of $0.07. BP’s payout ratio is 5,348.84%.

Insider Buying and Selling

In related news, insider Hina Nagarajan purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of GBX 429 ($5.48) per share, with a total value of £21,450 ($27,412.14). In other BP news, insider Hina Nagarajan acquired 5,000 shares of BP stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost of GBX 429 ($5.48) per share, for a total transaction of £21,450 ($27,412.14). Also, insider Murray Auchincloss sold 454,841 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of GBX 459 ($5.87), for a total transaction of £2,087,720.19 ($2,668,013.02). Insiders bought 10,012 shares of company stock valued at $4,450,511 over the last quarter. Insiders own 0.28% 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.