BP’s (BP) “Hold” Rating Reiterated at Berenberg Bank

BP (LON:BP)‘s stock had its “hold” rating reiterated by equities researchers at Berenberg Bank in a note issued to investors on Tuesday, Digital Look reports. They presently have a GBX 510 ($6.53) price objective on the oil and gas exploration company’s stock. Berenberg Bank’s target price points to a potential upside of 12.27% from the company’s previous close.

BP has been the subject of a number of other reports. Morgan Stanley reissued an “overweight” rating on shares of BP in a research report on Tuesday, May 14th. Royal Bank of Canada restated an “outperform” rating and set a GBX 650 ($8.33) price target on shares of BP in a report on Tuesday, June 18th. Barclays reiterated an “overweight” rating and set a GBX 1,000 ($12.81) price objective on shares of BP in a report on Monday, April 8th. Finally, Bank of America restated a “neutral” rating and issued a GBX 500 ($6.40) target price on shares of BP in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, two have assigned 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 price target of GBX 632.14 ($8.10).

BP Trading Down 4.3 %

BP stock traded down GBX 20.40 ($0.26) during midday trading on Tuesday, reaching GBX 454.25 ($5.82). The stock had a trading volume of 62,508,022 shares, compared to its average volume of 8,560,774. The firm has a market cap of £75.95 billion, a price-to-earnings ratio of 1,056.40, a PEG ratio of 0.35 and a beta of 0.54. The firm’s fifty day simple moving average is GBX 483.54 and its two-hundred day simple moving average is GBX 482.28. The company has a debt-to-equity ratio of 75.43, a current ratio of 1.23 and a quick ratio of 0.62. BP has a twelve month low of GBX 441.05 ($5.65) and a twelve month high of GBX 562.30 ($7.20).

Insider Buying and Selling

In other news, insider Hina Nagarajan bought 5,000 shares of BP stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average cost of GBX 460 ($5.89) per share, with a total value of £23,000 ($29,460.74). Insiders have bought a total of 5,012 shares of company stock valued at $2,305,761 over the last three months. 0.28% of the stock is owned by corporate insiders.

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.