BP (BP) Stock Rating Upgraded by Societe Generale

BP (LON:BP) was upgraded by investment analysts at Societe Generale to a “buy” rating in a research note issued to investors on Monday. The firm currently has a GBX 615 ($8.50) price target on the oil and gas exploration company’s stock, up from their previous price target of GBX 470 ($6.49). Societe Generale’s price objective would suggest a potential upside of 28.45% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Citigroup reissued a “neutral” rating and issued a GBX 480 ($6.63) price objective on shares of BP in a research report on Wednesday, November 1st. JPMorgan Chase & Co. increased their price objective on shares of BP from GBX 540 ($7.46) to GBX 550 ($7.60) and gave the stock an “overweight” rating in a research report on Friday, December 8th. Goldman Sachs Group set a GBX 610 ($8.43) price objective on shares of BP and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Kepler Capital Markets increased their price objective on shares of BP from GBX 485 ($6.70) to GBX 505 ($6.98) and gave the stock a “hold” rating in a research report on Wednesday, November 1st. Finally, increased their price objective on shares of BP from GBX 565 ($7.81) to GBX 600 ($8.29) and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 555.79 ($7.68).

Shares of BP (BP) traded up GBX 8.75 ($0.12) during mid-day trading on Monday, reaching GBX 478.80 ($6.62). 50,653,579 shares of the company traded hands, compared to its average volume of 29,590,000. BP has a 1 year low of GBX 436.95 ($6.04) and a 1 year high of GBX 536.20 ($7.41). The firm has a market capitalization of $95,720.00 and a price-to-earnings ratio of 3,990.00.

In related news, insider Brian Gilvary acquired 60 shares of BP stock in a transaction on Wednesday, January 10th. The shares were purchased at an average cost of GBX 528 ($7.29) per share, for a total transaction of £316.80 ($437.69).

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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)

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