BP’s (BP) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their underweight rating on shares of BP (LON:BP) in a report released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a GBX 550 ($7.07) price objective on the oil and gas exploration company’s stock.

BP has been the subject of several other reports. Barclays reissued an overweight rating and issued a GBX 1,000 ($12.86) price target on shares of BP in a report on Monday, April 8th. Berenberg Bank reissued a hold rating and issued a GBX 510 ($6.56) price target on shares of BP in a report on Tuesday, July 9th. Bank of America reissued a neutral rating and issued a GBX 500 ($6.43) price target on shares of BP in a report on Monday, April 22nd. Morgan Stanley restated an overweight rating on shares of BP in a research report on Tuesday, May 14th. Finally, Royal Bank of Canada restated an outperform rating and set a GBX 650 ($8.36) price objective on shares of BP in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, BP has a consensus rating of Hold and an average price target of GBX 632.14 ($8.13).

BP Trading Down 2.0 %

Shares of BP stock opened at GBX 444.80 ($5.72) on Wednesday. The company’s 50-day moving average price is GBX 466.62 and its 200-day moving average price is GBX 480.82. The company has a market cap of £74.37 billion, a price-to-earnings ratio of 1,034.42, a PEG ratio of 0.35 and a beta of 0.54. BP has a 12-month low of GBX 441.05 ($5.67) and a 12-month high of GBX 562.30 ($7.23). The company has a current ratio of 1.23, a quick ratio of 0.62 and a debt-to-equity ratio of 75.43.

BP Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, August 8th will be given a $0.08 dividend. This represents a yield of 1.37%. The ex-dividend date is Thursday, August 8th. This is a boost from BP’s previous dividend of $0.07. BP’s dividend payout ratio (DPR) is presently 5,348.84%.

Insider Buying and Selling

In related news, insider Murray Auchincloss sold 454,841 shares of BP stock in a transaction 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). In other news, insider Hina Nagarajan acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were purchased at an average price of GBX 460 ($5.92) per share, for a total transaction of £23,000 ($29,585.80). Also, insider Murray Auchincloss sold 454,841 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of GBX 459 ($5.90), for a total transaction of £2,087,720.19 ($2,685,516.07). Insiders have acquired a total of 5,017 shares of company stock worth $2,308,031 in the last 90 days. 0.28% of the stock is owned by company 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.