BP (LON:BP) Earns “Hold” Rating from Berenberg Bank

Berenberg Bank reissued their hold rating on shares of BP (LON:BP) in a report released on Tuesday morning, MarketBeat reports. The brokerage currently has a GBX 510 ($6.53) price objective on the oil and gas exploration company’s stock.

A number of other research analysts also recently commented on the company. Barclays reiterated an overweight rating and set a GBX 1,000 ($12.81) target price on shares of BP in a research report on Monday, April 8th. Royal Bank of Canada reiterated an outperform rating and set a GBX 650 ($8.33) price objective on shares of BP in a research report on Tuesday, June 18th. Bank of America reissued a neutral rating and issued a GBX 500 ($6.40) price objective on shares of BP in a research note on Monday, April 22nd. Finally, Morgan Stanley restated an overweight rating on shares of BP in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average price target of GBX 632.14 ($8.10).

BP Price Performance

LON:BP opened at GBX 451.80 ($5.79) on Tuesday. The business’s 50-day moving average is GBX 481.12 and its 200 day moving average is GBX 481.89. BP has a 12 month low of GBX 441.05 ($5.65) and a 12 month high of GBX 562.30 ($7.20). The company has a market capitalization of £75.54 billion, a P/E ratio of 1,057.33, a P/E/G ratio of 0.35 and a beta of 0.54. The company has a current ratio of 1.23, a quick ratio of 0.62 and a debt-to-equity ratio of 75.43.

BP Announces Dividend

The company also recently announced a dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were issued a $0.07 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a dividend yield of 1.14%. BP’s dividend payout ratio (DPR) is presently 5,348.84%.

Insider Buying and Selling

In other BP news, insider Hina Nagarajan bought 5,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was acquired at an average price of GBX 460 ($5.89) per share, for a total transaction of £23,000 ($29,460.74). In the last ninety days, insiders bought 5,017 shares of company stock valued at $2,308,031. Company insiders own 0.28% of the company’s stock.

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.