BP (LON:BP) Price Target Cut to GBX 590 by Analysts at Berenberg Bank

BP (LON:BP) had its target price reduced by research analysts at Berenberg Bank from GBX 700 to GBX 590 in a note issued to investors on Wednesday,London Stock Exchange reports. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Berenberg Bank’s target price would indicate a potential upside of 26.31% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. DZ Bank restated a “buy” rating on shares of BP in a research note on Tuesday, April 28th. Morgan Stanley upgraded shares of BP to an “overweight” rating in a research note on Wednesday, March 25th. BNP Paribas Exane raised shares of BP from a “neutral” rating to an “outperform” rating in a report on Friday, April 17th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of BP in a research report on Friday, June 5th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of BP in a research note on Wednesday, April 29th. Nine equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 613.

BP Price Performance

Shares of BP stock opened at GBX 467.10 on Wednesday. The business has a 50 day moving average of GBX 537.51 and a 200 day moving average of GBX 504.40. BP has a 52 week low of GBX 379.70 and a 52 week high of GBX 562.30. The company has a market cap of £90.91 billion, a PE ratio of 34.89, a P/E/G ratio of 0.35 and a beta of 0.06. The company has a quick ratio of 0.62, a current ratio of 1.22 and a debt-to-equity ratio of 132.55.

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. 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.