Stock Rating Downgrade
Reflecting eroding fundamentals and low Appreciation Potential, the Value Trend Rating for BP PLC (NYSE: BP) weakened of late. BP’s current Value Trend Rating is C and the prior Rating was B. Details supporting this lower rating are included in our next report.
Recent Price Action
On 6/21/24, BP PLC (NYSE: BP) stock declined slightly by -0.6%, closing at $35.51. However, below average trading volume at 77% of normal accompanied the decline. Relative to the market the stock has been weak over the last nine months and is unchanged during the last week.
Current PriceTarget Research Rating
BP is expected to continue to be a Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
BP has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. BP has a very high Appreciation Score of 88 but a slightly negative Power Rating of 34, producing the High Neutral Value Trend Rating.
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