Berenberg Bank Issues Pessimistic Forecast for BP (LON:BP) Stock Price

BP (LON:BP) had its price target dropped by investment analysts at Berenberg Bank from GBX 700 to GBX 590 in a research report issued to clients and 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 price objective indicates a potential upside of 26.31% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. UBS Group restated a “buy” rating on shares of BP in a report on Tuesday, June 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $700.00 price target on shares of BP in a research note on Thursday, June 11th. Barclays restated a “buy” rating on shares of BP in a research note on Tuesday, May 26th. Jefferies Financial Group reiterated a “neutral” rating and issued a $6.50 target price on shares of BP in a research report on Thursday, May 21st. Finally, DZ Bank reiterated a “buy” rating on shares of BP in a research note on Tuesday, April 28th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 613.

BP Stock Performance

Shares of LON:BP opened at GBX 467.10 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 0.62 and a debt-to-equity ratio of 132.55. BP has a 12 month low of GBX 379.70 and a 12 month high of GBX 562.30. The company has a market capitalization of £90.91 billion, a price-to-earnings ratio of 34.89, a PEG ratio of 0.35 and a beta of 0.06. The firm’s 50-day moving average is GBX 537.51 and its 200 day moving average is GBX 504.40.

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. 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.