BP plc (BP) Price Target Cut to GBX 480

BP plc (LON:BP) had its target price decreased by stock analysts at Jefferies Group LLC from GBX 500 ($6.33) to GBX 480 ($6.07) in a report released on Wednesday, May 17th, MarketBeat.com reports. The firm currently has a “hold” rating on the oil and gas exploration company’s stock. Jefferies Group LLC’s price objective points to a potential upside of 2.86% from the stock’s previous close.

Several other research analysts also recently weighed in on the stock. Barclays PLC restated an “overweight” rating and set a GBX 625 ($7.91) price objective on shares of BP plc in a report on Wednesday, May 3rd. Deutsche Bank AG restated a “buy” rating and set a GBX 505 ($6.39) price objective on shares of BP plc in a report on Wednesday, May 3rd. S&P Global set a GBX 480 ($6.07) price objective on shares of BP plc and gave the stock a “neutral” rating in a report on Tuesday, May 2nd. Beaufort Securities restated a “buy” rating on shares of BP plc in a report on Wednesday, May 3rd. Finally, Kepler Capital Markets restated a “hold” rating and set a GBX 510 ($6.45) price objective on shares of BP plc in a report on Wednesday, May 3rd. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of GBX 514.67 ($6.51).

Analyst Recommendations for BP plc (LON:BP)

Shares of BP plc (LON:BP) opened at 466.65 on Wednesday. The firm’s market capitalization is GBX 91.76 billion. The firm has a 50-day moving average of GBX 463.05 and a 200 day moving average of GBX 470.93. BP plc has a 12-month low of GBX 355.00 and a 12-month high of GBX 521.20.

The firm also recently announced a dividend, which will be paid on Friday, June 23rd. Shareholders of record on Thursday, May 11th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a yield of 1.71%.

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In other BP plc news, insider Brian Gilvary bought 68 shares of the business’s stock in a transaction on Wednesday, May 10th. The stock was purchased at an average price of GBX 456 ($5.77) per share, for a total transaction of £310.08 ($392.26).

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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