BP (LON:BP) Stock Price Expected to Rise, Berenberg Bank Analyst Says

BP (LON:BP) had its price objective lifted by stock analysts at Berenberg Bank from GBX 590 to GBX 600 in a note issued to investors on Wednesday,Digital Look reports. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. Berenberg Bank’s price objective indicates a potential upside of 16.17% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. DZ Bank reaffirmed a “buy” rating on shares of BP in a report on Tuesday, April 28th. BNP Paribas Exane raised shares of BP from a “neutral” rating to an “outperform” rating in a research note on Friday, April 17th. Morgan Stanley upgraded BP to an “overweight” rating in a research note on Wednesday, March 25th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of BP in a report on Wednesday, July 1st. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of BP in a research report on Wednesday, July 1st. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 605.

BP Price Performance

Shares of LON BP opened at GBX 516.50 on Wednesday. The stock has a market capitalization of £100.53 billion, a price-to-earnings ratio of 38.58, a PEG ratio of 0.35 and a beta of 0.06. BP has a 12 month low of GBX 379.70 and a 12 month high of GBX 562.30. The firm’s 50 day simple moving average is GBX 519.16 and its 200-day simple moving average is GBX 507.54. The company has a debt-to-equity ratio of 132.55, a current ratio of 1.22 and a quick ratio of 0.62.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.