BP (LON:BP) PT Lowered to GBX 600

BP (LON:BP) had its target price lowered by equities researchers at JPMorgan Chase & Co. from GBX 625 ($8.17) to GBX 600 ($7.84) in a research report issued to clients and investors on Friday, Borsen Zeitung reports. The brokerage currently has an “overweight” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 26.82% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Main First Bank assumed coverage on BP in a research report on Wednesday. They set an “outperform” rating and a GBX 620 ($8.10) price target for the company. HSBC set a GBX 600 ($7.84) price objective on shares of BP and gave the company a “buy” rating in a report on Wednesday, September 11th. Credit Suisse Group cut their price objective on shares of BP from GBX 605 ($7.91) to GBX 580 ($7.58) and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Kepler Capital Markets restated a “buy” rating and set a $650.00 target price on shares of BP in a report on Wednesday, October 30th. Finally, Societe Generale decreased their target price on shares of BP from $570.00 to $560.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of GBX 615.94 ($8.05).

Shares of BP stock opened at GBX 473.10 ($6.18) on Friday. The business’s 50 day simple moving average is GBX 497.49 and its 200 day simple moving average is GBX 517.84. BP has a 52-week low of GBX 452.38 ($5.91) and a 52-week high of GBX 583.40 ($7.62). The firm has a market cap of $96.05 billion and a PE ratio of 20.22. The company has a debt-to-equity ratio of 75.50, a quick ratio of 0.67 and a current ratio of 1.17.

In other news, insider Brian Gilvary bought 63 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average cost of GBX 509 ($6.65) per share, for a total transaction of £320.67 ($419.01). Insiders purchased 186 shares of company stock valued at $94,242 over the last three months.

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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Analyst Recommendations for BP (LON:BP)

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