JPMorgan Chase & Co. Reaffirms Underweight Rating for BP (LON:BP)

BP (LON:BP)‘s stock had its “underweight” rating reiterated by JPMorgan Chase & Co. in a note issued to investors on Tuesday, LSE.Co.UK reports.

BP has been the subject of several other reports. Berenberg Bank reaffirmed a “hold” rating and set a GBX 510 ($6.83) target price on shares of BP in a research note on Monday, August 5th. Bank of America reaffirmed a “buy” rating and issued a GBX 500 ($6.70) price objective on shares of BP in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a GBX 650 ($8.70) price target on shares of BP in a report on Tuesday, June 18th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 636.67 ($8.53).

BP Stock Performance

BP stock traded up GBX 2.20 ($0.03) during midday trading on Tuesday, reaching GBX 411.75 ($5.51). 17,693,540 shares of the company’s stock traded hands, compared to its average volume of 8,560,774. BP has a 52-week low of GBX 389.77 ($5.22) and a 52-week high of GBX 562.30 ($7.53). The stock’s 50-day moving average is GBX 432.36 and its 200 day moving average is GBX 470.51. The company has a current ratio of 1.24, a quick ratio of 0.62 and a debt-to-equity ratio of 79.91. The stock has a market cap of £65.72 billion, a P/E ratio of 1,247.73, a PEG ratio of 0.35 and a beta of 0.49.

Insider Transactions at BP

In related news, insider Murray Auchincloss sold 454,841 shares of BP stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of GBX 459 ($6.15), for a total transaction of £2,087,720.19 ($2,795,554.62). In other BP news, insider Hina Nagarajan acquired 5,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was bought at an average price of GBX 429 ($5.74) per share, for a total transaction of £21,450 ($28,722.55). Also, insider Murray Auchincloss sold 454,841 shares of BP stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of GBX 459 ($6.15), for a total value of £2,087,720.19 ($2,795,554.62). Over the last ninety days, insiders purchased 10,100 shares of company stock worth $4,223,284. Company insiders own 0.26% of the company’s stock.

BP Company Profile

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.