BP’s (BP) “Buy” Rating Reiterated at HSBC

HSBC reiterated their buy rating on shares of BP (LON:BP) in a research note published on Tuesday morning.

A number of other research analysts have also recently commented on BP. JPMorgan Chase & Co. set a GBX 650 ($8.49) price target on BP and gave the stock a buy rating in a report on Monday, July 9th. UBS Group set a GBX 610 ($7.97) price target on BP and gave the stock a buy rating in a report on Friday, July 20th. Credit Suisse Group set a GBX 640 ($8.36) price target on BP and gave the stock a buy rating in a report on Monday, July 30th. Deutsche Bank reissued a buy rating and issued a GBX 620 ($8.10) price target on shares of BP in a report on Tuesday, July 31st. Finally, Cfra set a GBX 650 ($8.49) price target on BP and gave the stock a buy rating in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. BP currently has a consensus rating of Buy and a consensus target price of GBX 635.71 ($8.31).

BP stock opened at GBX 523.90 ($6.85) on Tuesday. BP has a twelve month low of GBX 436.95 ($5.71) and a twelve month high of GBX 536.20 ($7.01).

The company also recently disclosed a dividend, which will be paid on Friday, December 21st. Shareholders of record on Thursday, November 8th will be paid a $0.10 dividend. This represents a yield of 1.44%. The ex-dividend date is Thursday, November 8th.

In other news, insider Brian Gilvary acquired 58 shares of BP stock in a transaction on Monday, September 10th. The shares were acquired at an average price of GBX 537 ($7.02) per share, with a total value of £311.46 ($406.98).

About BP

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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