Brokerages Set BP p.l.c. (LON:BP) Price Target at GBX 580

BP p.l.c. (LON:BP) has earned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is GBX 580.

A number of brokerages recently commented on BP. The Goldman Sachs Group reiterated a “buy” rating on shares of BP in a report on Wednesday, July 1st. Barclays restated a “buy” rating on shares of BP in a research note on Tuesday, May 26th. JPMorgan Chase & Co. decreased their target price on BP from GBX 600 to GBX 550 and set a “neutral” rating for the company in a research report on Friday, July 3rd. Jefferies Financial Group reiterated a “hold” rating and set a GBX 520 target price on shares of BP in a research note on Tuesday, August 25th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 700 price target on shares of BP in a report on Wednesday, August 5th.

Key Stories Impacting BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: Brokerages collectively maintain a “Moderate Buy” consensus recommendation for BP, indicating that analysts generally view the shares as attractively valued despite the company’s strategic and governance challenges. BP receives Moderate Buy consensus
• Positive Sentiment: BP appointed Ian Tyler, the former Balfour Beatty chief executive, as chair with immediate effect. A permanent replacement could provide stability and help the board execute its strategy, including the company’s renewed emphasis on oil and gas. BP appoints Ian Tyler as chairman
• Neutral Sentiment: Tyler replaces Albert Manifold after Manifold was removed over conduct and governance concerns. The leadership transition may remove uncertainty around the chairmanship, but investors will likely watch for details on Tyler’s priorities and his ability to rebuild confidence in BP’s board. BP names Ian Tyler as chair
• Negative Sentiment: The abrupt ousting of Manifold following reported bullying, conduct or broader governance concerns raises questions about BP’s board culture and oversight. The episode could weigh on investor confidence and distract management as the company works to improve performance and reshape its strategy. BP names new chair after boardroom dispute

BP Stock Performance

BP stock opened at GBX 542.50 on Friday. The firm has a market cap of £105.59 billion, a PE ratio of 40.52, a P/E/G ratio of 0.35 and a beta of 0.06. The company has a quick ratio of 0.62, a current ratio of 1.27 and a debt-to-equity ratio of 124.41. The business has a 50 day moving average of GBX 515.96 and a 200-day moving average of GBX 529.92. BP has a 12-month low of GBX 379.70 and a 12-month high of GBX 562.30.

About BP

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.