JPMorgan Chase & Co. Reaffirms Overweight Rating for BP (BP)
JPMorgan Chase & Co. restated their overweight rating on shares of BP (LON:BP) in a report issued on Thursday. JPMorgan Chase & Co. currently has a GBX 550 ($7.46) price objective on the oil and gas exploration company’s stock.
Several other equities analysts have also commented on BP. Goldman Sachs Group raised their target price on shares of BP from GBX 480 ($6.51) to GBX 500 ($6.78) and gave the company a neutral rating in a report on Friday, September 22nd. Barclays reissued an overweight rating and issued a GBX 675 ($9.15) target price on shares of BP in a report on Monday, September 25th. Deutsche Bank reissued a buy rating and issued a GBX 520 ($7.05) target price on shares of BP in a report on Tuesday, September 26th. UBS Group set a GBX 525 ($7.12) target price on shares of BP and gave the company a buy rating in a report on Tuesday, September 26th. Finally, Kepler Capital Markets set a GBX 485 ($6.58) target price on shares of BP and gave the company a neutral rating in a report on Monday, October 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. The stock has an average rating of Hold and an average target price of GBX 541 ($7.34).
BP (LON:BP) traded down GBX 6.60 ($0.09) during trading hours on Thursday, reaching GBX 509.90 ($6.91). 46,542,765 shares of the company were exchanged, compared to its average volume of 22,580,000. BP has a 1-year low of GBX 436.95 ($5.93) and a 1-year high of GBX 536.20 ($7.27). The company has a market capitalization of $101,260.00 and a price-to-earnings ratio of 3,642.14.
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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