BP (LON:BP) Receives Buy Rating from Bank of America

Bank of America reissued their buy rating on shares of BP (LON:BP) in a research report report published on Wednesday, MarketBeat reports. They currently have a GBX 500 ($6.57) price target on the oil and gas exploration company’s stock.

Several other research analysts have also recently commented on BP. Morgan Stanley reissued an overweight rating on shares of BP in a research note on Tuesday, May 14th. JPMorgan Chase & Co. lowered their target price on BP from GBX 550 ($7.23) to GBX 500 ($6.57) and set an underweight rating for the company in a research note on Tuesday. Berenberg Bank reissued a hold rating and set a GBX 510 ($6.71) target price on shares of BP in a research note on Monday, August 5th. Finally, Royal Bank of Canada reissued an outperform rating and set a GBX 650 ($8.55) target price on shares of BP in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of GBX 636.67 ($8.37).

BP Stock Down 0.5 %

Shares of BP opened at GBX 411.70 ($5.41) on Wednesday. The stock has a market cap of £67.52 billion, a P/E ratio of 1,247.58, a P/E/G ratio of 0.35 and a beta of 0.52. The company has a debt-to-equity ratio of 79.91, a quick ratio of 0.62 and a current ratio of 1.24. The business’s fifty day simple moving average is GBX 446.62 and its 200 day simple moving average is GBX 475.25.

BP Increases Dividend

The firm also recently declared a dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, August 8th will be issued a dividend of $0.08 per share. This represents a yield of 1.37%. This is an increase from BP’s previous dividend of $0.07. The ex-dividend date is Thursday, August 8th. BP’s payout ratio is 6,969.70%.

Insiders Place Their Bets

In other BP news, insider Hina Nagarajan purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average cost of GBX 429 ($5.64) per share, with a total value of £21,450 ($28,205.13). In other news, insider Murray Auchincloss bought 87 shares of BP stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of GBX 434 ($5.71) per share, with a total value of £377.58 ($496.49). Also, insider Hina Nagarajan bought 5,000 shares of BP stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost of GBX 429 ($5.64) per share, with a total value of £21,450 ($28,205.13). Insiders acquired 10,099 shares of company stock valued at $4,223,269 in the last ninety days. Insiders own 0.29% of the company’s stock.

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.