Macquarie Reiterates “GBX 450” Price Target for BP (LON:BP)

BP (LON:BP) has been assigned a GBX 450 ($6.32) price objective by equities researchers at Macquarie in a research note issued on Thursday, January 11th. The brokerage currently has a “sell” rating on the oil and gas exploration company’s stock. Macquarie’s price objective would suggest a potential downside of 7.72% from the stock’s current price.

Other analysts have also issued reports about the company. Barclays reiterated an “overweight” rating and set a GBX 675 ($9.48) price objective on shares of BP in a research note on Wednesday, January 10th. Morgan Stanley upped their target price on BP from GBX 560 ($7.86) to GBX 595 ($8.36) and gave the stock an “overweight” rating in a research note on Tuesday, November 7th. Credit Suisse Group restated an “outperform” rating and issued a GBX 575 ($8.07) target price on shares of BP in a research note on Thursday, November 9th. restated a “buy” rating and issued a GBX 600 ($8.43) target price on shares of BP in a research note on Tuesday, November 7th. Finally, Goldman Sachs Group set a GBX 520 ($7.30) price objective on BP and gave the stock a “neutral” rating in a report on Tuesday, November 7th. Two 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 company presently has an average rating of “Hold” and a consensus price target of GBX 541.50 ($7.60).

BP (BP) opened at GBX 487.65 ($6.85) on Thursday. BP has a 1 year low of GBX 436.95 ($6.14) and a 1 year high of GBX 536.20 ($7.53). The firm has a market capitalization of $96,840.00 and a price-to-earnings ratio of 3,483.21.

In related news, insider Brian Gilvary acquired 63 shares of BP stock in a transaction that occurred on Monday, December 11th. The stock was bought at an average price of GBX 493 ($6.92) per share, with a total value of £310.59 ($436.16). In the last ninety days, insiders have purchased 186 shares of company stock valued at $95,184.

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About BP

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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