HSBC Holdings plc Increases BP plc (BP) Price Target to GBX 600
BP plc (LON:BP) had its target price raised by HSBC Holdings plc from GBX 565 ($7.46) to GBX 600 ($7.92) in a report released on Wednesday morning. They currently have a buy rating on the oil and gas exploration company’s stock.
Several other research analysts have also recently commented on the stock. UBS AG set a GBX 525 ($6.93) price target on shares of BP plc and gave the stock a buy rating in a report on Tuesday, July 4th. Barclays PLC reiterated an overweight rating on shares of BP plc in a report on Monday, July 31st. J P Morgan Chase & Co set a GBX 500 ($6.60) price target on shares of BP plc and gave the stock a buy rating in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) boosted their price target on shares of BP plc from GBX 480 ($6.33) to GBX 500 ($6.60) and gave the stock a neutral rating in a report on Friday, September 22nd. Finally, Citigroup Inc. reiterated a neutral rating and set a GBX 480 ($6.33) price target on shares of BP plc in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of GBX 535.25 ($7.06).
BP plc (LON BP) opened at GBX 516.80 ($6.82) on Wednesday. BP plc has a twelve month low of GBX 432.15 ($5.70) and a twelve month high of GBX 522.21 ($6.89).
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The company also recently disclosed a dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, November 9th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a yield of 1.47%.
In other news, insider Brian Gilvary acquired 70 shares of the business’s stock in a transaction on Monday, September 11th. The stock was bought at an average price of GBX 446 ($5.89) per share, for a total transaction of £312.20 ($411.98). In the last 90 days, insiders have acquired 201 shares of company stock valued at $93,730.
About BP plc
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.
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