J P Morgan Chase & Co Reiterates GBX 500 Price Target for BP plc (BP)
BP plc (LON:BP) received a GBX 500 ($6.47) price target from equities researchers at J P Morgan Chase & Co in a report released on Thursday. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. J P Morgan Chase & Co’s target price indicates a potential upside of 13.15% from the company’s current price.
A number of other equities analysts have also weighed in on the company. UBS AG set a GBX 525 ($6.79) target price on BP plc and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Beaufort Securities reiterated a “buy” rating on shares of BP plc in a research note on Wednesday, May 3rd. Canaccord Genuity reiterated a “buy” rating and set a GBX 525 ($6.79) target price on shares of BP plc in a research note on Wednesday, May 3rd. Deutsche Bank AG reiterated a “buy” rating and set a GBX 505 ($6.53) target price on shares of BP plc in a research note on Wednesday, May 3rd. Finally, HSBC Holdings plc increased their target price on BP plc from GBX 550 ($7.11) to GBX 565 ($7.31) and gave the stock a “buy” rating in a research note on Friday, June 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of GBX 506.05 ($6.54).
BP plc (BP) traded up 0.79% during trading on Thursday, hitting GBX 445.40. The stock had a trading volume of 12,590,415 shares. The company’s 50-day moving average is GBX 448.94 and its 200 day moving average is GBX 456.61. BP plc has a 52 week low of GBX 411.60 and a 52 week high of GBX 521.20. The firm’s market cap is GBX 87.68 billion.
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In other news, insider Brian Gilvary bought 68 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was acquired at an average cost of GBX 468 ($6.05) per share, with a total value of £318.24 ($411.59). Insiders purchased a total of 206 shares of company stock valued at $94,796 over the last ninety days.
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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