Barclays PLC Reaffirms “Overweight” Rating for BP plc (BP)
BP plc (LON:BP)‘s stock had its “overweight” rating restated by equities research analysts at Barclays PLC in a research note issued on Monday. They currently have a GBX 600 ($7.43) price target on the oil and gas exploration company’s stock. Barclays PLC’s target price would suggest a potential upside of 24.24% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Canaccord Genuity reaffirmed a “buy” rating and set a GBX 520 ($6.44) price target on shares of BP plc in a report on Wednesday, July 27th. Beaufort Securities reaffirmed a “buy” rating on shares of BP plc in a report on Wednesday, July 27th. Citigroup Inc. raised BP plc to a “buy” rating and increased their price target for the stock from GBX 370 ($4.58) to GBX 410 ($5.07) in a report on Thursday, June 16th. HSBC set a GBX 505 ($6.25) price objective on BP plc and gave the stock a “buy” rating in a research report on Wednesday, July 13th. Finally, Liberum Capital increased their price objective on BP plc from GBX 382 ($4.73) to GBX 433 ($5.36) and gave the stock a “hold” rating in a research report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 441.44 ($5.46).
Shares of BP plc (LON:BP) traded up 1.74% during midday trading on Monday, reaching GBX 494.45. 26,689,798 shares of the company’s stock traded hands. BP plc has a 52 week low of GBX 249.44 and a 52 week high of GBX 495.30. The company’s market capitalization is GBX 92.84 billion. The stock’s 50 day moving average is GBX 436.20 and its 200-day moving average is GBX 401.00.
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About BP plc
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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