BP (LON:BP) Stock Rating Reaffirmed as “Hold” by Jefferies Financial Group

BP (LON:BP)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Financial Group in a report released on Wednesday, Digital Look reports. They currently have a GBX 520 target price on the oil and gas exploration company’s stock. Jefferies Financial Group’s target price would suggest a potential downside of 14.75% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating on shares of BP in a research report on Thursday, September 24th. UBS Group restated a “buy” rating on shares of BP in a report on Monday, September 28th. Berenberg Bank raised their price objective on shares of BP from GBX 600 to GBX 605 and gave the company a “buy” rating in a research note on Tuesday, August 18th. JPMorgan Chase & Co. raised their price objective on shares of BP from GBX 550 to GBX 675 and gave the company an “overweight” rating in a research note on Wednesday, September 23rd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of BP in a report on Wednesday, July 1st. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 605.

BP Trading Up 3.7%

Shares of BP stock opened at GBX 610 on Wednesday. The company has a debt-to-equity ratio of 124.41, a quick ratio of 0.62 and a current ratio of 1.27. BP has a 52 week low of GBX 379.70 and a 52 week high of GBX 562.30. The stock has a 50 day moving average price of GBX 546.41 and a two-hundred day moving average price of GBX 541.18. The stock has a market capitalization of £118.72 billion, a PE ratio of 45.57, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06.

Key BP News

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP said it has reached its net-debt target ahead of schedule, supported by higher oil prices and improved operating cash flow. The company’s refining margin also reportedly more than tripled, strengthening expectations for balance-sheet improvement and shareholder returns. BP surges to multiyear highs as efforts to cut net debt ahead of schedule
• Positive Sentiment: The company’s stronger balance sheet and windfall-year performance are increasing investor interest ahead of the December strategy announcement, which could clarify capital allocation, production priorities and future shareholder distributions. BP to set out new strategy after windfall year
• Positive Sentiment: High oil prices and progress on debt reduction provide a more favorable backdrop for BP’s upstream and broader financial outlook, although the company narrowed its third-quarter production expectations. BP Is Paying Down Debt Faster Thanks to High Oil Prices
• Neutral Sentiment: Director Kate Thomson bought five BP shares for approximately GBX 2,930. The purchase signals some insider confidence, but its small size is unlikely to materially affect investor sentiment.
• Neutral Sentiment: BP withdrew from a Riyadh energy conference following an airport attack. The decision appears security-related and has limited direct financial significance. BP not able to attend Riyadh energy conference after airport attack
• Negative Sentiment: BP warned of up to $4.5 billion in impairments, largely connected to scaling back renewable and low-carbon investments. The charges highlight potential losses from its previous energy-transition strategy and may weigh on reported earnings. BP Flags Up to $4.5 Billion in Impairments as Refining Margins Jump
• Negative Sentiment: The renewable-energy retreat and additional low-carbon impairments could damage BP’s credibility with investors seeking stable energy-transition growth, while narrower upstream production guidance adds another operational concern. BP’s new $4.5bn renewables retreat hit as damage goes on

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.