Morgan Stanley Reaffirms Overweight Rating for BP (LON:BP)

Morgan Stanley reaffirmed their overweight rating on shares of BP (LON:BP) in a research report report published on Tuesday morning, Digital Look reports. The firm currently has a GBX 620 ($8.10) price objective on the oil and gas exploration company’s stock.

Several other brokerages have also recently weighed in on BP. Berenberg Bank reiterated a buy rating and issued a GBX 620 ($8.10) target price on shares of BP in a report on Friday, June 21st. Societe Generale lowered their target price on BP from GBX 650 ($8.49) to GBX 635 ($8.30) and set a buy rating for the company in a report on Thursday, May 2nd. Sanford C. Bernstein set a GBX 700 ($9.15) target price on BP and gave the stock a buy rating in a report on Tuesday. JPMorgan Chase & Co. set a GBX 625 ($8.17) target price on BP and gave the stock a buy rating in a report on Tuesday. Finally, Deutsche Bank reiterated a buy rating on shares of BP in a report on Friday, July 12th. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average price target of GBX 652.94 ($8.53).

Shares of BP stock opened at GBX 526.90 ($6.88) on Tuesday. BP has a twelve month low of GBX 481.35 ($6.29) and a twelve month high of GBX 603.20 ($7.88). The stock has a market cap of $107.45 billion and a PE ratio of 10.80. The stock has a fifty day moving average price of GBX 539.93. The company has a quick ratio of 0.66, a current ratio of 1.02 and a debt-to-equity ratio of 87.27.

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

In related news, insider Brian Gilvary acquired 58 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average cost of GBX 552 ($7.21) per share, for a total transaction of £320.16 ($418.35). Insiders have purchased a total of 174 shares of company stock valued at $94,192 over the last 90 days.

BP Company Profile

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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