BP (LON:BP) Price Target Raised to GBX 715

BP (LON:BP) had its target price boosted by Berenberg Bank from GBX 650 to GBX 715 in a research note issued to investors on Wednesday,Digital Look reports. Berenberg Bank currently has a buy rating on the oil and gas exploration company’s stock.

Several other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating on shares of BP in a research note on Wednesday, July 1st. Royal Bank Of Canada reaffirmed a “buy” rating on shares of BP in a research report on Thursday, September 24th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 520 price target on shares of BP in a research report on Wednesday, October 14th. UBS Group reiterated a “buy” rating on shares of BP in a report on Monday, September 28th. Finally, JPMorgan Chase & Co. raised their price objective on BP from GBX 550 to GBX 675 and gave the stock an “overweight” rating in a research report on Wednesday, September 23rd. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 627.

BP Stock Up 4.3%

Shares of BP opened at GBX 638.50 on Wednesday. The company has a current ratio of 1.27, a quick ratio of 0.62 and a debt-to-equity ratio of 124.41. The company has a market capitalization of £124.27 billion, a PE ratio of 47.69, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06. The business’s 50 day moving average is GBX 560.61 and its 200 day moving average is GBX 542.93. BP has a 12-month low of GBX 379.70 and a 12-month high of GBX 562.30.

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.