JPMorgan Chase & Co. Raises BP (BP) Price Target to GBX 600

BP (LON:BP) had its target price hoisted by JPMorgan Chase & Co. from GBX 560 ($7.32) to GBX 600 ($7.84) in a research report report published on Monday, MarketBeat reports. JPMorgan Chase & Co. currently has an overweight rating on the oil and gas exploration company’s stock.

BP has been the topic of several other reports. Royal Bank of Canada restated a top pick rating and set a GBX 700 ($9.15) target price on shares of BP in a research report on Monday, October 15th. HSBC reaffirmed a buy rating on shares of BP in a research note on Wednesday, October 17th. Credit Suisse Group set a GBX 665 ($8.69) target price on shares of BP and gave the company a buy rating in a research note on Wednesday, October 17th. Morgan Stanley reaffirmed an overweight rating on shares of BP in a report on Thursday, October 18th. Finally, UBS Group reissued a buy rating and set a GBX 610 ($7.97) price objective on shares of BP in a report on Friday, October 26th. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of GBX 652.35 ($8.52).

LON:BP opened at GBX 547.70 ($7.16) on Monday. BP has a 52 week low of GBX 436.95 ($5.71) and a 52 week high of GBX 536.20 ($7.01).

The firm also recently declared a dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, February 14th will be paid a $0.10 dividend. This represents a yield of 1.51%. The ex-dividend date is Thursday, February 14th.

In other BP news, insider Brian Gilvary sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of GBX 534 ($6.98), for a total value of £106,800 ($139,553.12). Also, insider Helge Lund purchased 600,000 shares of the stock in a transaction on Thursday, December 20th. The stock was acquired at an average cost of GBX 493 ($6.44) per share, for a total transaction of £2,958,000 ($3,865,150.92). Insiders have bought 600,181 shares of company stock worth $295,895,377 over the last ninety days.

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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