BP (LON:BP) Price Target Raised to GBX 590

BP (LON:BP) had its price objective increased by stock analysts at JPMorgan Chase & Co. from GBX 570 ($7.74) to GBX 590 ($8.01) in a research note issued on Friday, Analyst Ratings Network reports. The firm presently has an “overweight” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 51.79% from the company’s current price.

A number of other equities analysts have also recently issued reports on BP. Berenberg Bank reissued a “buy” rating and set a GBX 425 ($5.77) price objective on shares of BP in a research report on Friday, November 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a GBX 401 ($5.44) price target on shares of BP in a research report on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a GBX 425 ($5.77) price target on shares of BP in a research report on Friday, November 19th. Barclays reaffirmed an “overweight” rating and issued a GBX 500 ($6.79) price target on shares of BP in a research report on Thursday, January 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of BP to a “buy” rating and lifted their target price for the stock from GBX 320 ($4.34) to GBX 404 ($5.48) in a research report on Friday, December 3rd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 402.50 ($5.46).

Shares of BP stock opened at GBX 388.70 ($5.28) on Friday. The company has a current ratio of 1.16, a quick ratio of 0.73 and a debt-to-equity ratio of 80.48. The business has a 50-day moving average price of GBX 342.45 and a two-hundred day moving average price of GBX 325.96. BP has a 1-year low of GBX 249.75 ($3.39) and a 1-year high of GBX 366.40 ($4.97). The company has a market cap of £76.62 billion and a P/E ratio of 16.13.

In related news, insider Bernard Looney acquired 93 shares of the company’s stock in a transaction dated Friday, December 10th. The stock was bought at an average cost of GBX 344 ($4.67) per share, with a total value of £319.92 ($434.26).

BP Company Profile

BP p.l.c. engages in the energy business worldwide. It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. It produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such as hydrogen, and carbon capture, usage and storage.

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Analyst Recommendations for BP (LON:BP)

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