Insider Buying: BP (LON:BP) Insider Acquires £99,236.50 in Stock

BP p.l.c. (LON:BP) insider Ian Tyler bought 18,043 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was purchased at an average price of GBX 550 per share, for a total transaction of £99,236.50.

BP Trading Up 2.7%

Shares of LON BP opened at GBX 567 on Friday. BP p.l.c. has a fifty-two week low of GBX 379.70 and a fifty-two week high of GBX 562.30. The business’s 50 day moving average price is GBX 578.40 and its 200-day moving average price is GBX 537.78. The company has a market cap of £110.35 billion, a price-to-earnings ratio of 42.35, a PEG ratio of 0.35 and a beta of 0.06. The company has a debt-to-equity ratio of 111.97, a quick ratio of 0.62 and a current ratio of 1.29.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Jefferies Financial Group reissued a “hold” rating and issued a GBX 580 price target on shares of BP in a report on Wednesday. JPMorgan Chase & Co. raised shares of BP from a “neutral” rating to an “overweight” rating and increased their target price for the stock from GBX 550 to GBX 675 in a research note on Wednesday, September 23rd. Royal Bank Of Canada reissued a “buy” rating on shares of BP in a report on Thursday, September 24th. UBS Group reaffirmed a “buy” rating on shares of BP in a report on Monday, September 28th. Finally, Berenberg Bank lifted their price objective on BP from GBX 715 to GBX 720 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, BP currently has a consensus rating of “Moderate Buy” and an average price target of GBX 668.75.

Key BP News

Here’s some of the latest news about BP:

• Neutral Sentiment: A report says BP is leaving Indonesia while operating blocks in Namibia, suggesting a shift in exploration priorities. The impact depends on the value of assets exited and the success of its Namibia work. What Does BP Leaving Indonesia And Running Namibia Blocks Mean?
• Neutral Sentiment: Jefferies reaffirmed its Hold rating and set a GBX 580 target, indicating a more cautious view than the bullish analyst ratings also cited in the reports.
• Neutral Sentiment: BP reportedly secured lower VLCC rates for a Gulf of Oman voyage. Lower freight costs could benefit BP, though the report does not quantify the savings. BP forces down VLCC rates from Gulf of Oman on Onassis tanker

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. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.