Berenberg Bank Issues Pessimistic Forecast for BP (LON:BP) Stock Price

BP (LON:BP) had its target price dropped by stock analysts at Berenberg Bank from GBX 470 ($5.95) to GBX 440 ($5.57) in a report released on Friday, Marketbeat Ratings reports. The brokerage presently has a “hold” rating on the oil and gas exploration company’s stock. Berenberg Bank’s target price suggests a potential upside of 14.39% from the company’s current price.

A number of other equities analysts also recently commented on BP. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of BP in a research note on Tuesday, September 24th. Bank of America reaffirmed a “buy” rating and set a GBX 500 ($6.33) price objective on shares of BP in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of GBX 618 ($7.82).

BP Stock Down 0.2 %

Shares of BP stock traded down GBX 0.80 ($0.01) during trading hours on Friday, reaching GBX 384.65 ($4.87). 18,911,775 shares of the stock were exchanged, compared to its average volume of 8,560,774. The business’s fifty day moving average is GBX 393.25 and its two-hundred day moving average is GBX 431.50. The firm has a market capitalization of £60.97 billion, a P/E ratio of 1,165.61, a P/E/G ratio of 0.35 and a beta of 0.49. BP has a 12-month low of GBX 379.70 ($4.81) and a 12-month high of GBX 562.30 ($7.12). The company has a debt-to-equity ratio of 79.91, a current ratio of 1.24 and a quick ratio of 0.62.

Insider Buying and Selling at BP

In other BP news, insider Hina Nagarajan bought 5,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of GBX 407 ($5.15) per share, with a total value of £20,350 ($25,756.23). Also, insider Murray Auchincloss acquired 100 shares of the business’s stock in a transaction on Monday, November 11th. The stock was acquired at an average price of GBX 373 ($4.72) per share, with a total value of £373 ($472.09). In the last ninety days, insiders have purchased 5,113 shares of company stock worth $2,077,586. 0.26% of the stock is currently owned by insiders.

BP Company Profile

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.