BP (LON:BP) Price Target Cut to GBX 500 by Analysts at JPMorgan Chase & Co.

BP (LON:BP) had its price objective trimmed by JPMorgan Chase & Co. from GBX 550 ($7.23) to GBX 500 ($6.57) in a research report released on Tuesday, MarketBeat.com reports. The firm currently has an underweight rating on the oil and gas exploration company’s stock.

BP has been the subject of a number of other research reports. Royal Bank of Canada reissued an outperform rating and set a GBX 650 ($8.55) target price on shares of BP in a research report on Tuesday, June 18th. Morgan Stanley reissued an overweight rating on shares of BP in a research note on Tuesday, May 14th. Finally, Berenberg Bank reaffirmed a hold rating and set a GBX 510 ($6.71) price target on shares of BP in a research report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of GBX 636.67 ($8.37).

BP Trading Down 3.2 %

BP stock opened at GBX 416.35 ($5.47) on Tuesday. The company has a 50 day moving average price of GBX 450.13 and a 200-day moving average price of GBX 476.52. The company has a market capitalization of £68.28 billion, a P/E ratio of 1,303.79, a PEG ratio of 0.35 and a beta of 0.52. The company has a quick ratio of 0.62, a current ratio of 1.24 and a debt-to-equity ratio of 79.91.

BP Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, August 8th will be given a $0.08 dividend. This represents a dividend yield of 1.37%. This is a boost from BP’s previous dividend of $0.07. The ex-dividend date of this dividend is Thursday, August 8th. BP’s dividend payout ratio is 6,969.70%.

Insider Activity at BP

In other BP news, insider Murray Auchincloss sold 454,841 shares of the company’s stock in a transaction dated 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 news, insider Hina Nagarajan acquired 5,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were acquired at an average cost of GBX 429 ($5.64) per share, with a total value of £21,450 ($28,205.13). Also, insider Murray Auchincloss sold 454,841 shares of the company’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 value of £2,087,720.19 ($2,745,194.20). Insiders have bought a total of 5,099 shares of company stock valued at $2,188,269 over the last 90 days. 0.29% of the stock is owned by insiders.

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.