BP plc (BP) Trading 0.4% Higher Following Analyst Upgrade
BP plc (LON:BP)’s share price traded up 0.4% during trading on Monday after Deutsche Bank AG raised their price target on the stock from GBX 505 to GBX 520. Deutsche Bank AG currently has a buy rating on the stock. BP plc traded as high as GBX 446.80 ($5.77) and last traded at GBX 446.55 ($5.77). 5,045,321 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 24,800,400 shares. The stock had previously closed at GBX 444.75 ($5.74).
A number of other equities analysts have also commented on BP. UBS Group AG set a GBX 525 ($6.78) price target on shares of BP plc and gave the company a “buy” rating in a research report on Monday, June 12th. Barclays PLC restated an “overweight” rating and issued a GBX 675 ($8.72) price target on shares of BP plc in a research report on Tuesday, August 15th. J P Morgan Chase & Co set a GBX 500 ($6.46) price target on shares of BP plc and gave the company a “buy” rating in a research report on Wednesday, August 9th. Credit Suisse Group set a GBX 530 ($6.84) price target on shares of BP plc and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Morgan Stanley restated an “overweight” rating and issued a GBX 510 ($6.59) price target on shares of BP plc in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of GBX 506.73 ($6.54).
In other news, insider Brian Gilvary bought 68 shares of the stock in a transaction on Monday, June 12th. The stock was purchased at an average price of GBX 468 ($6.04) per share, with a total value of £318.24 ($411.00). Insiders acquired 206 shares of company stock valued at $94,796 in the last ninety days.
The company’s 50 day moving average is GBX 448.71 and its 200 day moving average is GBX 455.99. The stock’s market capitalization is GBX 87.89 billion.
The firm also recently declared a dividend, which will be paid on Friday, September 22nd. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, August 10th. This represents a yield of 1.64%.
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About BP plc
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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