BP’s (BP) “Buy” Rating Reaffirmed at Barclays

Barclays restated their buy rating on shares of BP (LON:BP) in a report released on Tuesday morning,MarketScreener reports.

BP has been the subject of several other reports. BNP Paribas Exane upgraded BP from a “neutral” rating to an “outperform” rating in a report on Friday, April 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of BP in a research note on Tuesday, April 28th. Berenberg Bank reiterated a “buy” rating and issued a GBX 700 price objective on shares of BP in a report on Wednesday, April 29th. DZ Bank restated a “buy” rating on shares of BP in a report on Tuesday, April 28th. Finally, UBS Group reaffirmed a “buy” rating on shares of BP in a research report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 635.

BP Trading Down 4.0%

BP stock traded down GBX 22.20 during midday trading on Tuesday, hitting GBX 529. The company had a trading volume of 83,576,358 shares, compared to its average volume of 8,560,774. The company has a current ratio of 1.22, a quick ratio of 0.62 and a debt-to-equity ratio of 132.55. BP has a 52 week low of GBX 379.70 and a 52 week high of GBX 562.30. The stock’s 50 day moving average price is GBX 565.63 and its 200 day moving average price is GBX 494.07. The stock has a market cap of £102.96 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 0.35 and a beta of 0.06.

Insider Buying and Selling

In other news, insider Carol Howle purchased 62 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was acquired at an average cost of GBX 510 per share, for a total transaction of £316.20. Over the last ninety days, insiders have purchased 77 shares of company stock valued at $39,750. Insiders own 0.26% of the company’s stock.

BP News Summary

Here are the key news stories impacting BP this week:

• Positive Sentiment: Barclays reaffirmed its Buy rating on BP, adding to recent analyst support for the stock. BP Barclays keeps its buy rating
• Positive Sentiment: Argus upgraded BP to Buy after the company beat earnings expectations, pointing to improved first-quarter adjusted net income versus a year ago. Argus Upgrades BP To Buy After Earnings Beat
• Positive Sentiment: Royal Bank of Canada reiterated an Outperform rating and set a higher price target, reinforcing the bullish analyst tone around BP. BP Buy Rating From RBC
• Neutral Sentiment: BP also received additional broker support with another RBC-related note highlighting an Outperform stance, but it was largely a repeat of the broader positive analyst sentiment. BP Given Outperform Rating at Royal Bank of Canada
• Negative Sentiment: BP’s board removed chairman Albert Manifold immediately over governance and conduct concerns, a development that can weigh on investor confidence and create short-term volatility. BP Board Ousts Chair Albert Manifold Over Governance Concerns

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. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.