JPMorgan Chase & Co. reissued their underweight rating on shares of BP (LON:BP – Free Report) in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a GBX 550 ($7.07) price target on the oil and gas exploration company’s stock.
Other equities analysts also recently issued reports about the stock. Royal Bank of Canada reiterated an outperform rating and set a GBX 650 ($8.36) price objective on shares of BP in a research note on Tuesday, June 18th. Bank of America restated a neutral rating and issued a GBX 500 ($6.43) target price on shares of BP in a research note on Monday, April 22nd. Morgan Stanley restated an overweight rating on shares of BP in a research note on Tuesday, May 14th. Barclays restated an overweight rating and issued a GBX 1,000 ($12.86) target price on shares of BP in a research note on Monday, April 8th. Finally, Berenberg Bank restated a hold rating and issued a GBX 510 ($6.56) target price on shares of BP in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of GBX 632.14 ($8.13).
BP Price Performance
BP Increases Dividend
The business also recently declared a dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 8th will be paid a $0.08 dividend. This represents a dividend yield of 1.37%. This is an increase from BP’s previous dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 8th. BP’s payout ratio is 5,348.84%.
Insider Buying and Selling
In other BP news, insider Hina Nagarajan bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average cost of GBX 460 ($5.92) per share, with a total value of £23,000 ($29,585.80). In other BP news, insider Murray Auchincloss sold 454,841 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of GBX 459 ($5.90), for a total value of £2,087,720.19 ($2,685,516.07). Also, insider Hina Nagarajan bought 5,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was bought at an average price of GBX 460 ($5.92) per share, with a total value of £23,000 ($29,585.80). Insiders have acquired a total of 5,017 shares of company stock valued at $2,308,031 in the last ninety days. Company 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.
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