BP (LON:BP) Earns “Hold” Rating from Jefferies Financial Group

BP (LON:BP)‘s stock had its “hold” rating reiterated by equities researchers at Jefferies Financial Group in a research report issued on Wednesday, Digital Look reports. They currently have a GBX 520 price target on the oil and gas exploration company’s stock. Jefferies Financial Group’s price objective suggests a potential downside of 14.75% from the company’s current price.

BP has been the topic of a number of other reports. The Goldman Sachs Group reissued a “buy” rating on shares of BP in a research report on Wednesday, July 1st. UBS Group reissued a “buy” rating on shares of BP in a research report on Monday, September 28th. Royal Bank Of Canada restated a “buy” rating on shares of BP in a research note on Thursday, September 24th. Berenberg Bank increased their price target on BP from GBX 600 to GBX 605 and gave the company a “buy” rating in a research report on Tuesday, August 18th. Finally, JPMorgan Chase & Co. lifted their price target on BP from GBX 550 to GBX 675 and gave the stock an “overweight” rating in a report on Wednesday, September 23rd. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 605.

BP Stock Up 3.7%

BP stock traded up GBX 22 during trading on Wednesday, hitting GBX 610. 52,576,615 shares of the company were exchanged, compared to its average volume of 8,560,774. The business’s 50 day moving average is GBX 546.41 and its 200 day moving average is GBX 541.18. BP has a 52 week low of GBX 379.70 and a 52 week high of GBX 562.30. The company has a market capitalization of £118.72 billion, a P/E ratio of 45.57, a PEG ratio of 0.35 and a beta of 0.06. The company has a current ratio of 1.27, a quick ratio of 0.62 and a debt-to-equity ratio of 124.41.

More BP News

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP said it reached its net-debt reduction target ahead of schedule, helped by higher oil prices and improved cash generation. The stronger balance sheet could support capital returns and give management greater flexibility ahead of its December strategy update. BP surges to multiyear highs as efforts to cut net debt ahead of schedule
• Positive Sentiment: Refining margins reportedly tripled, while higher oil prices improved the near-term earnings backdrop. BP also announced a December strategy update, which investors may view as a potential catalyst for clearer priorities and improved shareholder returns. BP sees refining margin triple, debt target reached, but flags more impairments
• Neutral Sentiment: Jefferies reaffirmed its “hold” rating and assigned a GBX 520 price target, indicating a cautious view despite BP’s recent gains. Jefferies reaffirms BP hold rating
• Neutral Sentiment: Director Kate Thomson bought five BP shares worth approximately GBX 2,930. The purchase signals some insider confidence, but its small size is unlikely to materially affect valuation.
• Negative Sentiment: BP warned of up to $4.5 billion in impairments as it scales back low-carbon and renewable-energy ambitions. The charges could weigh on reported results and highlight the potential cost of reversing earlier green-investment plans. BP flags up to $4.5 billion in impairments
• Negative Sentiment: BP narrowed its third-quarter upstream production outlook and faces further low-carbon impairments. The combination suggests operational pressure in some areas and continued uncertainty over the profitability of its energy-transition portfolio. BP narrows Q3 upstream production outlook

About BP

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.