BP plc (LON:BP) Downgraded to Underperform at Macquarie
BP plc (LON:BP) was downgraded by investment analysts at Macquarie from a “neutral” rating to an “underperform” rating in a research note issued to investors on Wednesday, June 21st, Marketbeat.com reports. They presently have a price target on the oil and gas exploration company’s stock, down from their previous price target of .
Other research analysts also recently issued reports about the company. UBS AG reiterated a “buy” rating and set a GBX 525 ($6.80) target price on shares of BP plc in a research report on Friday, February 24th. J P Morgan Chase & Co restated an “overweight” rating and set a GBX 530 ($6.87) price target on shares of BP plc in a report on Monday, June 12th. Citigroup Inc. restated a “neutral” rating and set a GBX 480 ($6.22) price target on shares of BP plc in a report on Thursday, June 15th. Barclays PLC restated an “overweight” rating and set a GBX 625 ($8.10) price target on shares of BP plc in a report on Tuesday, June 20th. Finally, Deutsche Bank AG restated a “buy” rating and set a GBX 515 ($6.67) price target on shares of BP plc in a report on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of GBX 510.14 ($6.61).
Shares of BP plc (BP) traded down 0.46% during trading on Wednesday, reaching GBX 444.80. 28,708,392 shares of the company’s stock were exchanged. BP plc has a 52-week low of GBX 408.63 and a 52-week high of GBX 521.20. The stock’s market cap is GBX 87.47 billion. The stock’s 50 day moving average price is GBX 464.60 and its 200-day moving average price is GBX 470.39.
The business also recently declared a dividend, which was paid on Friday, June 23rd. Investors of record on Thursday, May 11th were given a dividend of $0.10 per share. This represents a yield of 1.71%. The ex-dividend date of this dividend was Thursday, May 11th.
In related news, insider Brian Gilvary purchased 68 shares of BP plc stock in a transaction that occurred on Wednesday, May 10th. The stock was bought at an average cost of GBX 456 ($5.91) per share, for a total transaction of £310.08 ($401.66). Over the last quarter, insiders have purchased 206 shares of company stock valued at $93,912.
BP plc Company Profile
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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