BP (LON:BP) Earns Buy Rating from Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of BP (LON:BP) in a report released on Tuesday morning, Digital Look reports. Berenberg Bank currently has a GBX 620 ($8.10) target price on the oil and gas exploration company’s stock.

Several other research analysts also recently commented on the company. Deutsche Bank reaffirmed a buy rating on shares of BP in a research note on Friday, July 12th. Barclays set a GBX 700 ($9.15) price objective on BP and gave the stock a buy rating in a research note on Tuesday, April 30th. Royal Bank of Canada set a GBX 615 ($8.04) price objective on BP and gave the stock a buy rating in a research note on Monday. Credit Suisse Group reaffirmed a neutral rating and issued a GBX 605 ($7.91) price objective on shares of BP in a research note on Tuesday, July 16th. Finally, Kepler Capital Markets set a GBX 680 ($8.89) price objective on BP and gave the stock a buy rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of GBX 652.94 ($8.53).

Shares of LON BP traded down GBX 11.80 ($0.15) during trading on Tuesday, hitting GBX 526.90 ($6.88). The company had a trading volume of 39,206,506 shares, compared to its average volume of 35,510,000. The company has a 50 day simple moving average of GBX 540.17. The company has a quick ratio of 0.66, a current ratio of 1.02 and a debt-to-equity ratio of 87.27. BP has a 12 month low of GBX 481.35 ($6.29) and a 12 month high of GBX 603.20 ($7.88). The company has a market capitalization of $107.45 billion and a price-to-earnings ratio of 10.80.

The firm also recently announced a dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, August 8th will be given a dividend of $0.10 per share. This represents a dividend yield of 1.59%. The ex-dividend date is Thursday, August 8th. BP’s dividend payout ratio is currently 0.66%.

In other BP news, insider Brian Gilvary bought 58 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was purchased at an average price of GBX 546 ($7.13) per share, for a total transaction of £316.68 ($413.80). Insiders have purchased 174 shares of company stock valued at $94,192 in the last quarter.

About BP

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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Analyst Recommendations for BP (LON:BP)

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