BP plc (BP) Price Target Raised to GBX 500
BP plc (LON:BP) had its target price upped by equities research analysts at Jefferies Group LLC from GBX 470 ($6.25) to GBX 500 ($6.64) in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage presently has a “hold” rating on the oil and gas exploration company’s stock. Jefferies Group LLC’s price target points to a potential upside of 1.65% from the stock’s previous close.
Several other research firms also recently weighed in on BP. J P Morgan Chase & Co set a GBX 500 ($6.64) target price on BP plc and gave the company a “buy” rating in a research report on Thursday, August 31st. Barclays PLC restated an “overweight” rating and set a GBX 675 ($8.97) price objective on shares of BP plc in a report on Monday, September 25th. UBS AG set a GBX 525 ($6.98) price objective on BP plc and gave the company a “buy” rating in a report on Friday, September 15th. Deutsche Bank AG restated a “buy” rating and set a GBX 520 ($6.91) price objective on shares of BP plc in a report on Wednesday, October 4th. Finally, Kepler Capital Markets cut BP plc from a “hold” rating to a “reduce” rating and dropped their price objective for the company from GBX 470 ($6.25) to GBX 430 ($5.71) in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of GBX 514.23 ($6.83).
BP plc (LON:BP) traded down 0.05% during mid-day trading on Thursday, hitting GBX 491.90. The stock had a trading volume of 25,563,070 shares. The stock’s market cap is GBX 96.84 billion. BP plc has a 12 month low of GBX 432.15 and a 12 month high of GBX 521.20. The stock’s 50-day moving average price is GBX 469.59 and its 200-day moving average price is GBX 459.59.
In other BP plc news, insider Brian Gilvary bought 63 shares of BP plc stock in a transaction that occurred on Tuesday, October 10th. The shares were bought at an average cost of GBX 486 ($6.46) per share, with a total value of £306.18 ($406.83). Insiders have purchased a total of 201 shares of company stock valued at $93,730 over the last 90 days.
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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