BP (LON:BP) has been given a GBX 675 ($8.82) price target by equities researchers at Credit Suisse Group in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. Credit Suisse Group’s price target suggests a potential upside of 33.35% from the company’s previous close.
Several other analysts have also recently weighed in on BP. JPMorgan Chase & Co. set a GBX 650 ($8.49) price objective on shares of BP and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Citigroup upgraded shares of BP to a “top pick” rating and set a GBX 650 ($8.49) target price on the stock in a research report on Thursday, August 16th. Barclays reiterated a “top pick” rating on shares of BP in a research report on Monday, August 20th. Morgan Stanley upgraded shares of BP from an “equal” rating to an “overweight” rating and upped their target price for the stock from GBX 680 ($8.89) to GBX 695 ($9.08) in a research report on Wednesday, September 5th. Finally, Berenberg Bank began coverage on shares of BP in a research report on Tuesday, September 11th. They set a “buy” rating and a GBX 665 ($8.69) target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. BP currently has an average rating of “Buy” and a consensus price target of GBX 645.75 ($8.44).
Shares of BP stock opened at GBX 506.20 ($6.61) on Wednesday. BP has a 1-year low of GBX 436.95 ($5.71) and a 1-year high of GBX 536.20 ($7.01).
In other BP news, insider Brian Gilvary acquired 53 shares of the business’s stock in a transaction that occurred on Wednesday, October 10th. The shares were acquired at an average cost of GBX 579 ($7.57) per share, for a total transaction of £306.87 ($400.98). Insiders purchased 171 shares of company stock worth $93,273 over the last 90 days.
BP Company Profile
BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
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