Brokerages Set BP plc (BP) Price Target at $608.16
Shares of BP plc (LON:BP) have been given an average rating of “Buy” by the twenty-one brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and four have assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is GBX 608.16 ($7.85).
A number of research firms have weighed in on BP. Barclays reaffirmed an “overweight” rating on shares of BP in a research report on Tuesday, May 15th. JPMorgan Chase & Co. set a GBX 650 ($8.38) price objective on BP and gave the stock a “buy” rating in a research report on Tuesday, August 7th. HSBC increased their price objective on BP from GBX 600 ($7.74) to GBX 610 ($7.87) and gave the stock a “buy” rating in a research report on Tuesday, May 15th. Societe Generale reaffirmed a “buy” rating on shares of BP in a research report on Thursday, June 28th. Finally, Kepler Capital Markets raised BP to a “buy” rating and increased their price objective for the stock from GBX 530 ($6.84) to GBX 650 ($8.38) in a research report on Thursday, June 28th.
BP stock traded down GBX 7.60 ($0.10) during mid-day trading on Tuesday, reaching GBX 548.90 ($7.08). 12,799,245 shares of the company were exchanged, compared to its average volume of 35,510,000. BP has a twelve month low of GBX 436.95 ($5.64) and a twelve month high of GBX 536.20 ($6.92).
In other news, insider Brian Gilvary acquired 53 shares of the company’s stock in a transaction that occurred on Tuesday, July 10th. The stock was purchased at an average cost of GBX 585 ($7.55) per share, with a total value of £310.05 ($399.96). Insiders bought a total of 164 shares of company stock valued at $94,669 over the last three months.
BP Company Profile
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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