BP (BP) Price Target Increased to GBX 650 by Analysts at JPMorgan Chase & Co.

BP (LON:BP) had its price target upped by JPMorgan Chase & Co. from GBX 625 ($8.17) to GBX 650 ($8.49) in a research report report published on Wednesday. They currently have an overweight rating on the oil and gas exploration company’s stock.

A number of other analysts also recently issued reports on BP. Goldman Sachs Group set a GBX 700 ($9.15) price target on shares of BP and gave the company a buy rating in a report on Wednesday, June 20th. Citigroup reiterated a buy rating and issued a GBX 650 ($8.49) price target on shares of BP in a report on Thursday, June 21st. Societe Generale reiterated a buy rating on shares of BP in a report on Thursday, June 28th. Kepler Capital Markets upgraded shares of BP to a buy rating and lifted their price target for the company from GBX 530 ($6.93) to GBX 650 ($8.49) in a report on Thursday, June 28th. Finally, Royal Bank of Canada set a GBX 675 ($8.82) price target on shares of BP and gave the company a buy rating in a report on Monday, July 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of GBX 631.90 ($8.26).

Shares of BP traded down GBX 3.80 ($0.05) during trading hours on Wednesday, reaching GBX 554.50 ($7.25). 20,733,107 shares of the stock traded hands, compared to its average volume of 35,510,000. BP has a 52-week low of GBX 436.95 ($5.71) and a 52-week high of GBX 536.20 ($7.01).

The business also recently disclosed a dividend, which was paid on Friday, September 21st. Shareholders of record on Thursday, August 9th were given a $0.10 dividend. This represents a yield of 1.38%. This is a boost from BP’s previous dividend of $0.10. The ex-dividend date was Thursday, August 9th.

In related news, insider Brian Gilvary acquired 58 shares of the stock in a transaction on Monday, September 10th. The stock was bought at an average cost of GBX 537 ($7.02) per share, with a total value of £311.46 ($406.98). Over the last three months, insiders acquired 169 shares of company stock valued at $94,545.

About BP

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

Read More: How is the S&P 500 index different from the DJIA?

Analyst Recommendations for BP (LON:BP)

Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply