BP (LON:BP) Price Target Cut to GBX 500

BP (LON:BP) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from GBX 550 ($7.23) to GBX 500 ($6.57) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage currently has an “underweight” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 20.82% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Berenberg Bank restated a “hold” rating and issued a GBX 510 ($6.71) target price on shares of BP in a research note on Monday, August 5th. Royal Bank of Canada reissued an “outperform” rating and issued a GBX 650 ($8.55) price target on shares of BP in a research note on Tuesday, June 18th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of BP in a research report on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of GBX 636.67 ($8.37).

BP Stock Down 0.6 %

BP stock opened at GBX 413.85 ($5.44) on Tuesday. The company has a debt-to-equity ratio of 79.91, a quick ratio of 0.62 and a current ratio of 1.24. The stock has a market cap of £67.87 billion, a PE ratio of 1,261.67, a P/E/G ratio of 0.35 and a beta of 0.52. The firm’s 50 day moving average is GBX 448.98 and its two-hundred day moving average is GBX 476.10.

Insider Buying and Selling at BP

In related news, insider Murray Auchincloss sold 454,841 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of GBX 459 ($6.04), for a total transaction of £2,087,720.19 ($2,745,194.20). In other BP news, insider Hina Nagarajan purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was bought at an average cost of GBX 429 ($5.64) per share, for a total transaction of £21,450 ($28,205.13). Also, insider Murray Auchincloss sold 454,841 shares of the firm’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of GBX 459 ($6.04), for a total transaction of £2,087,720.19 ($2,745,194.20). Insiders have purchased a total of 5,099 shares of company stock worth $2,188,269 over the last 90 days. Insiders own 0.29% 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.