BP (LON:BP) Stock Rating Upgraded by Berenberg Bank

BP (LON:BP) was upgraded by Berenberg Bank from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a GBX 500 ($6.72) target price on the oil and gas exploration company’s stock, up from their previous target price of GBX 385 ($5.18). Berenberg Bank’s target price would suggest a potential upside of 17.44% from the stock’s previous close.

BP has been the subject of a number of other reports. Royal Bank Of Canada lifted their target price on shares of BP from GBX 450 ($6.05) to GBX 470 ($6.32) and gave the company a “sector perform” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of BP from GBX 420 ($5.65) to GBX 440 ($5.92) and gave the company a “neutral” rating in a research note on Wednesday. Finally, Jefferies Financial Group reissued a “hold” rating and set a GBX 390 ($5.24) target price on shares of BP in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of GBX 460 ($6.19).

BP Trading Down 1.1%

LON BP opened at GBX 425.75 ($5.73) on Wednesday. The company has a market capitalization of £82.86 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. BP has a 1-year low of GBX 379.70 ($5.11) and a 1-year high of GBX 562.30 ($7.56). The company has a current ratio of 1.22, a quick ratio of 0.62 and a debt-to-equity ratio of 105.65. The firm’s fifty day simple moving average is GBX 385.28 and its 200-day simple moving average is GBX 395.67.

Insider Buying and Selling

In other news, insider Murray Auchincloss sold 336,621 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of GBX 359 ($4.83), for a total value of £1,208,469.39 ($1,625,160.56). Over the last quarter, insiders purchased 214 shares of company stock valued at $80,903. Insiders own 0.26% 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.