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

BP (LON:BP) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from GBX 570 ($7.74) to GBX 590 ($8.01) in a report released on Friday, Analyst Price Targets reports. The brokerage presently has an “overweight” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 51.79% from the stock’s previous close.

A number of other research analysts also recently weighed in on the stock. Barclays restated an “overweight” rating and set a GBX 500 ($6.79) price objective on shares of BP in a research report on Thursday, January 6th. Berenberg Bank restated 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 restated an “equal weight” rating and set a GBX 401 ($5.44) price objective on shares of BP in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded shares of BP to a “buy” rating and increased their price objective for the company from GBX 320 ($4.34) to GBX 404 ($5.48) in a research report on Friday, December 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a GBX 425 ($5.77) price objective on shares of BP in a research report on Friday, November 19th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BP currently has a consensus rating of “Buy” and an average target price of GBX 402.50 ($5.46).

Shares of LON BP opened at GBX 388.70 ($5.28) on Friday. The firm’s 50 day moving average price is GBX 342.45 and its 200-day moving average price is GBX 325.96. The company has a market cap of £76.62 billion and a PE ratio of 16.13. BP has a 52-week low of GBX 249.75 ($3.39) and a 52-week high of GBX 366.40 ($4.97). The company has a debt-to-equity ratio of 80.48, a quick ratio of 0.73 and a current ratio of 1.16.

In other news, insider Bernard Looney acquired 93 shares of BP stock in a transaction dated Friday, December 10th. The stock was purchased 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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