Sanford C. Bernstein restated their buy rating on shares of BP (LON:BP) in a research note released on Thursday, Borsen Zeitung reports. The brokerage currently has a GBX 700 ($9.21) target price on the oil and gas exploration company’s stock.

A number of other brokerages have also recently weighed in on BP. DZ Bank decreased their price target on shares of BP from GBX 600 ($7.89) to GBX 560 ($7.37) and set a buy rating for the company in a research report on Wednesday, February 5th. Societe Generale cut their price objective on shares of BP from GBX 560 ($7.37) to GBX 525 ($6.91) and set a buy rating on the stock in a report on Thursday, February 6th. Citigroup reiterated a buy rating on shares of BP in a report on Wednesday, February 5th. HSBC cut their price objective on shares of BP from GBX 600 ($7.89) to GBX 595 ($7.83) and set a buy rating on the stock in a report on Wednesday. Finally, Goldman Sachs Group set a GBX 750 ($9.87) price objective on shares of BP and gave the stock a buy rating in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. BP currently has a consensus rating of Buy and a consensus target price of GBX 601.47 ($7.91).

BP stock traded down GBX 3.10 ($0.04) during trading on Thursday, reaching GBX 456.85 ($6.01). 23,380,830 shares of the company’s stock were exchanged, compared to its average volume of 35,510,000. The company’s 50-day moving average is GBX 482.31 and its two-hundred day moving average is GBX 495.57. The company has a debt-to-equity ratio of 76.90, a quick ratio of 0.66 and a current ratio of 1.12. BP has a 52-week low of GBX 4.69 ($0.06) and a 52-week high of GBX 583.40 ($7.67). The firm has a market cap of $93.73 billion and a price-to-earnings ratio of 23.19.

The company also recently disclosed a dividend, which will be paid on Friday, March 27th. Shareholders of record on Thursday, February 13th will be issued a $0.11 dividend. The ex-dividend date is Thursday, February 13th. This represents a yield of 1.78%. This is a positive change from BP’s previous dividend of $0.10. BP’s payout ratio is currently 1.62%.

In other news, insider Brian Gilvary acquired 65 shares of the business’s stock in a transaction on Friday, January 10th. The shares were purchased at an average price of GBX 492 ($6.47) per share, for a total transaction of £319.80 ($420.68).

BP Company Profile

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

Further Reading: Diversification

Analyst Recommendations for BP (LON:BP)

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