BP (BP) Given Overweight Rating at JPMorgan Chase & Co.

BP (LON:BP)‘s stock had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co. in a note issued to investors on Thursday. They presently have a GBX 550 ($7.46) target price on the oil and gas exploration company’s stock. JPMorgan Chase & Co.’s target price indicates a potential upside of 7.86% from the stock’s current price.

Several other brokerages also recently weighed in on BP. Deutsche Bank set a GBX 565 ($7.66) price objective on shares of BP and gave the company a “buy” rating in a research report on Monday, January 15th. Macquarie set a GBX 450 ($6.10) price objective on shares of BP and gave the company a “sell” rating in a research report on Thursday, January 11th. Barclays reiterated an “overweight” rating and issued a GBX 675 ($9.15) price objective on shares of BP in a research report on Wednesday, January 10th. Morgan Stanley boosted their price target on shares of BP from GBX 560 ($7.59) to GBX 595 ($8.07) and gave the stock an “overweight” rating in a research report on Tuesday, November 7th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a GBX 575 ($7.80) target price on shares of BP in a report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of GBX 541 ($7.34).

Shares of BP (BP) traded down GBX 6.60 ($0.09) during trading hours on Thursday, reaching GBX 509.90 ($6.91). 46,542,765 shares of the company traded hands, compared to its average volume of 22,580,000. The company has a market cap of $101,260.00 and a P/E ratio of 3,642.14. BP has a 12-month low of GBX 436.95 ($5.93) and a 12-month high of GBX 536.20 ($7.27).

In other BP news, insider Brian Gilvary purchased 63 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was bought at an average cost of GBX 515 ($6.98) per share, with a total value of £324.45 ($439.99). Insiders have bought a total of 186 shares of company stock valued at $95,184 over the last ninety days.

ILLEGAL ACTIVITY WARNING: “BP (BP) Given Overweight Rating at JPMorgan Chase & Co.” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://www.americanbankingnews.com/2018/01/21/bp-bp-given-overweight-rating-at-jpmorgan-chase-co.html.

BP Company Profile

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.

Analyst Recommendations for BP (LON:BP)

Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply