Bank of America Reaffirms Neutral Rating for BP (LON:BP)

Bank of America restated their neutral rating on shares of BP (LON:BP) in a report published on Monday, MarketBeat.com reports. They currently have a GBX 500 ($6.18) price target on the oil and gas exploration company’s stock.

BP has been the subject of several other research reports. Berenberg Bank lowered their target price on shares of BP from GBX 525 ($6.48) to GBX 510 ($6.30) and set a hold rating for the company in a report on Thursday, February 22nd. JPMorgan Chase & Co. reiterated an underweight rating on shares of BP in a research report on Tuesday, February 20th. AlphaValue downgraded shares of BP to a reduce rating in a research report on Monday, February 12th. Finally, Barclays reiterated an overweight rating and issued a GBX 1,000 ($12.35) price target on shares of BP in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of GBX 617.89 ($7.63).

BP Trading Up 0.5 %

Shares of BP stock opened at GBX 525.60 ($6.49) on Monday. The company has a fifty day simple moving average of GBX 492.26 and a 200-day simple moving average of GBX 485.05. BP has a 12-month low of GBX 441.05 ($5.45) and a 12-month high of GBX 562.30 ($6.95). The company has a current ratio of 1.21, a quick ratio of 0.62 and a debt-to-equity ratio of 73.78. The stock has a market cap of £88.56 billion, a price-to-earnings ratio of 769.26, a PEG ratio of 0.35 and a beta of 0.55.

BP Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, February 15th were paid a $0.07 dividend. This represents a dividend yield of 1.28%. The ex-dividend date was Thursday, February 15th. BP’s dividend payout ratio (DPR) is presently 3,235.29%.

Insider Activity at BP

In related news, insider Murray Auchincloss acquired 72 shares of BP stock in a transaction that occurred on Wednesday, April 10th. The stock was purchased at an average price of GBX 517 ($6.39) per share, for a total transaction of £372.24 ($459.78). Insiders purchased 82 shares of company stock worth $41,974 over the last 90 days. 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.