Berenberg Bank Issues Pessimistic Forecast for BP (LON:BP) Stock Price

BP (LON:BP) had its target price cut by stock analysts at Berenberg Bank from GBX 470 ($5.95) to GBX 440 ($5.57) in a report issued on Friday, Marketbeat.com reports. The firm currently has a “hold” rating on the oil and gas exploration company’s stock. Berenberg Bank’s price objective indicates a potential upside of 14.39% from the company’s current price.

Several other equities analysts have also recently issued reports on BP. Bank of America reissued a “buy” rating and issued a GBX 500 ($6.33) price objective on shares of BP in a research note on Wednesday, September 4th. JPMorgan Chase & Co. restated an “underweight” rating on shares of BP in a report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of GBX 618 ($7.82).

BP Stock Performance

Shares of BP stock traded down GBX 0.80 ($0.01) on Friday, hitting GBX 384.65 ($4.87). The stock had a trading volume of 18,911,775 shares, compared to its average volume of 8,560,774. The company has a current ratio of 1.24, a quick ratio of 0.62 and a debt-to-equity ratio of 79.91. The stock has a market cap of £60.97 billion, a price-to-earnings ratio of 1,165.61, a P/E/G ratio of 0.35 and a beta of 0.49. The company’s 50 day moving average price is GBX 393.25 and its 200 day moving average price is GBX 431.50. BP has a 52-week low of GBX 379.70 ($4.81) and a 52-week high of GBX 562.30 ($7.12).

Insider Activity at BP

In other BP news, insider Hina Nagarajan purchased 5,000 shares of BP stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of GBX 407 ($5.15) per share, with a total value of £20,350 ($25,756.23). Also, insider Murray Auchincloss bought 100 shares of the business’s stock in a transaction on Monday, November 11th. The stock was acquired at an average cost of GBX 373 ($4.72) per share, for a total transaction of £373 ($472.09). In the last ninety days, insiders have purchased 5,113 shares of company stock worth $2,077,586. 0.26% of the stock is currently owned by company insiders.

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.