BP p.l.c. (LON:BP – Get Free Report)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 492.02 ($6.07) and traded as low as GBX 477.15 ($5.89). BP shares last traded at GBX 477.15 ($5.89), with a volume of 28,402,015 shares traded.
Wall Street Analyst Weigh In
A number of research firms have commented on BP. Berenberg Bank upped their price target on BP from GBX 490 ($6.05) to GBX 525 ($6.48) and gave the stock a “hold” rating in a research note on Thursday, November 2nd. Citigroup restated a “buy” rating on shares of BP in a research note on Friday, October 6th. Barclays reiterated an “overweight” rating and issued a GBX 1,000 ($12.34) price objective on shares of BP in a research note on Tuesday, September 12th. JPMorgan Chase & Co. increased their price objective on BP from GBX 530 ($6.54) to GBX 600 ($7.41) in a research note on Friday, September 22nd. Finally, HSBC increased their price objective on BP from GBX 515 ($6.36) to GBX 555 ($6.85) in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 625.60 ($7.72).
BP Stock Down 0.4 %
BP Announces Dividend
The firm also recently announced a dividend, which will be paid on Tuesday, December 19th. Investors of record on Thursday, November 9th will be issued a $0.07 dividend. This represents a yield of 1.14%. The ex-dividend date of this dividend is Thursday, November 9th. BP’s dividend payout ratio (DPR) is presently 2,017.54%.
Insider Activity at BP
In other BP news, insider Murray Auchincloss bought 72 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were purchased at an average price of GBX 520 ($6.42) per share, with a total value of £374.40 ($462.17). Insiders have acquired 3,759 shares of company stock valued at $975,067 over the last quarter. 0.25% of the stock is owned by insiders.
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.
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