JPMorgan Chase & Co. restated their underweight rating on shares of BP (LON:BP – Free Report) in a research report released on Tuesday, Marketbeat reports.
A number of other brokerages have also weighed in on BP. Berenberg Bank reaffirmed a hold rating and set a GBX 510 ($6.83) price objective on shares of BP in a report on Monday, August 5th. Royal Bank of Canada reiterated an outperform rating and set a GBX 650 ($8.70) target price on shares of BP in a research report on Tuesday, June 18th. Finally, Bank of America reiterated a buy rating and set a GBX 500 ($6.70) target price on shares of BP in a research report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, BP currently has an average rating of Hold and a consensus target price of GBX 636.67 ($8.53).
BP Trading Down 4.1 %
BP Increases Dividend
The business also recently disclosed a dividend, which was paid on Friday, September 20th. Stockholders of record on Thursday, August 8th were given a $0.08 dividend. This is an increase from BP’s previous dividend of $0.07. This represents a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, August 8th. BP’s dividend payout ratio is currently 6,969.70%.
Insider Activity
In related news, insider Murray Auchincloss acquired 87 shares of BP stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of GBX 434 ($5.81) per share, for a total transaction of £377.58 ($505.60). In other BP news, insider Hina Nagarajan bought 5,000 shares of BP stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of GBX 407 ($5.45) per share, for a total transaction of £20,350 ($27,249.60). Also, insider Murray Auchincloss bought 87 shares of BP stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of GBX 434 ($5.81) per share, for a total transaction of £377.58 ($505.60). Insiders have purchased 10,100 shares of company stock worth $4,223,284 over the last three months. 0.26% of the stock is currently owned by corporate 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.
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