Bank of America Reiterates Neutral Rating for BP (LON:BP)

BP (LON:BP)‘s stock had its “neutral” rating reissued by analysts at Bank of America in a research note issued on Monday, Marketbeat.com reports. They currently have a GBX 500 ($6.18) target price on the oil and gas exploration company’s stock. Bank of America‘s price objective would indicate a potential downside of 4.42% from the stock’s current price.

Other research analysts have also issued reports about the stock. Barclays reaffirmed an “overweight” rating and issued a GBX 1,000 ($12.35) price target on shares of BP in a research note on Monday, April 8th. Berenberg Bank reduced their price target on shares of BP from GBX 525 ($6.48) to GBX 510 ($6.30) and set a “hold” rating on the stock in a research report on Thursday, February 22nd. AlphaValue lowered shares of BP to a “reduce” rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of BP in a report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, BP has a consensus rating of “Hold” and a consensus price target of GBX 617.89 ($7.63).

BP Price Performance

Shares of BP opened at GBX 523.10 ($6.46) on Monday. The business’s 50-day moving average is GBX 491.40 and its two-hundred day moving average is GBX 484.78. The company has a market capitalization of £88.14 billion, a P/E ratio of 768.38, a P/E/G ratio of 0.35 and a beta of 0.55. The company has a debt-to-equity ratio of 73.78, a quick ratio of 0.62 and a current ratio of 1.21. BP has a fifty-two week low of GBX 441.05 ($5.45) and a fifty-two week high of GBX 562.30 ($6.95).

Insider Transactions at BP

In other news, insider Murray Auchincloss acquired 72 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were purchased at an average cost of GBX 517 ($6.39) per share, for a total transaction of £372.24 ($459.78). In the last three months, insiders have acquired 82 shares of company stock worth $41,974. 0.28% 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.