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Shares of BP PLC  (BP)  were falling 0.4% Monday despite a bullish note from research firm RBC, which reiterated its "top pick" rating on the British oil giant. 

The firm said it believes that BP could generate a free cash flow yield by 2021 of at least 11% in an environment where global benchmark Brent crude is trading at about $55 a barrel. Brent crude was trading down 1.7% to $60.62 per barrel on Monday.

After BP updated is financial goals through 2025 at an event, BP analyst Biraj Borkhataria believes that the company is well-positioned to meet its near and long-term financial goals.

"Although the company is likely to experience some inflation in U.S. shale in 2019, we are now more confident that costs are likely to go down, rather than up over the medium term," Borkhataria told investors. 

BP is also the top oil play for Jim Cramer's  Action Alerts PLUS charitable trust for much of the same reasons cited by RBC. The company has been very transparent about its financial goals going forward, which builds confidence. 

"BP is our favorite name in the energy sector. We value its visible, multi-year production growth guidance at a break-even cost that is expected to steadily decline. Furthermore, we find the +6% dividend yield to be plenty attractive in a near-term uncertain commodity environment," AAP senior analyst Jeff Marks told TheStreet.