BP plc (BP) Stock Rating Reaffirmed by Morgan Stanley
BP plc (LON:BP)‘s stock had its “overweight” rating reiterated by stock analysts at Morgan Stanley in a report released on Monday. They currently have a GBX 535 ($6.52) price target on the oil and gas exploration company’s stock. Morgan Stanley’s price objective suggests a potential upside of 8.86% from the stock’s previous close.
A number of other research analysts have also recently commented on BP. HSBC restated a “buy” rating and set a GBX 430 ($5.24) price objective on shares of BP plc in a research note on Monday, June 20th. Citigroup Inc. restated a “buy” rating on shares of BP plc in a research note on Wednesday, June 22nd. Barclays PLC restated an “overweight” rating and set a GBX 550 ($6.70) price objective on shares of BP plc in a research note on Thursday, June 23rd. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 410 ($5.00) price objective on shares of BP plc in a research note on Thursday, June 23rd. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and set a GBX 386 ($4.70) price objective on shares of BP plc in a research note on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of GBX 453.64 ($5.53).
Shares of BP plc (LON:BP) traded down 1.17% during mid-day trading on Monday, hitting GBX 483.75. The company had a trading volume of 23,280,453 shares. The stock’s market cap is GBX 90.83 billion. BP plc has a 52-week low of GBX 249.44 and a 52-week high of GBX 498.45. The stock’s 50-day moving average is GBX 445.59 and its 200-day moving average is GBX 406.90.
In related news, insider Brian Gilvary purchased 65 shares of the company’s stock in a transaction on Monday, October 10th. The shares were bought at an average price of GBX 486 ($5.92) per share, with a total value of £315.90 ($385.01).
BP plc Company Profile
BP p.l.c. is an integrated oil and gas company. The Company provides its customers with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Company operates through three segments: Upstream, Downstream and Rosneft.
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