J P Morgan Chase & Co Increases BP plc (BP) Price Target to GBX 540
BP plc (LON:BP) had its target price upped by J P Morgan Chase & Co from GBX 500 ($6.64) to GBX 540 ($7.18) in a report issued on Thursday. The firm currently has an “overweight” rating on the oil and gas exploration company’s stock. J P Morgan Chase & Co’s price objective points to a potential upside of 9.78% from the company’s current price.
A number of other research analysts also recently commented on the stock. Macquarie downgraded shares of BP plc from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from to in a research report on Wednesday, June 21st. Deutsche Bank AG reissued a “buy” rating and issued a GBX 515 ($6.84) price objective on shares of BP plc in a research report on Wednesday, June 21st. UBS AG set a GBX 525 ($6.98) price objective on shares of BP plc and gave the company a “buy” rating in a research report on Tuesday, July 4th. Barclays PLC reissued an “overweight” rating on shares of BP plc in a research report on Monday, July 31st. Finally, Goldman Sachs Group, Inc. (The) lifted their price objective on shares of BP plc from GBX 480 ($6.38) to GBX 500 ($6.64) and gave the company a “neutral” rating in a research report on Friday, September 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of GBX 514.23 ($6.83).
Shares of BP plc (BP) traded down 0.05% during midday trading on Thursday, reaching GBX 491.90. 25,563,070 shares of the company were exchanged. The stock has a 50-day moving average price of GBX 469.59 and a 200 day moving average price of GBX 459.59. The company’s market capitalization is GBX 96.84 billion. BP plc has a 52-week low of GBX 432.15 and a 52-week high of GBX 521.20.
In other news, insider Brian Gilvary bought 70 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was bought at an average cost of GBX 446 ($5.93) per share, for a total transaction of £312.20 ($414.83). Insiders bought 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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