BP stock slides nearly 5% after Evercore downgrade; oil slump raises buyback questions
BP’s U.S.-listed shares fell 4.9% to $34.36 Tuesday after Evercore ISI downgraded the stock, citing oil-price exposure and uncertainty before a CEO change. Trading volume jumped to 16.2 million shares. Investors await BP’s Feb. 10 results for updates on buybacks and cash returns. Brent crude slipped 0.5% to $61.48 a barrel.