Berenberg Bank Cuts BP (LON:BP) Price Target to GBX 520

BP (LON:BP) had its price objective lowered by stock analysts at Berenberg Bank from GBX 525 to GBX 520 in a report issued on Thursday, Marketbeat reports. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Berenberg Bank’s price objective would indicate a potential upside of 18.75% from the stock’s current price.

A number of other brokerages have also issued reports on BP. Citigroup lifted their price target on shares of BP from GBX 475 to GBX 525 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Jefferies Financial Group reissued a “hold” rating and issued a GBX 420 target price on shares of BP in a research report on Monday, November 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a GBX 500 price target on shares of BP in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. lifted their price target on BP from GBX 460 to GBX 480 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of GBX 489.

BP Stock Down 1.3%

Shares of BP traded down GBX 5.60 during trading on Thursday, reaching GBX 437.90. The company’s stock had a trading volume of 45,473,426 shares, compared to its average volume of 8,560,774. The company has a market cap of £85.23 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 0.35 and a beta of 0.49. The company has a quick ratio of 0.62, a current ratio of 1.22 and a debt-to-equity ratio of 105.65. The company has a fifty day moving average of GBX 443.42 and a two-hundred day moving average of GBX 426.21. BP has a twelve month low of GBX 379.70 and a twelve month high of GBX 562.30.

Insider Activity

In related news, insider Carol Howle bought 73 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was bought at an average cost of GBX 426 per share, for a total transaction of £310.98. Also, insider Murray Auchincloss bought 85 shares of the stock in a transaction dated Wednesday, December 10th. The shares were bought at an average cost of GBX 446 per share, with a total value of £379.10. Insiders bought a total of 173 shares of company stock valued at $75,663 over the last ninety days. Company 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. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.