BP’s (BP) “Outperform” Rating Reaffirmed at Royal Bank of Canada

BP (LON:BPGet Rating)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank of Canada in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a GBX 450 ($5.62) target price on the oil and gas exploration company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 14.93% from the stock’s previous close.

BP has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their target price on shares of BP from GBX 500 ($6.25) to GBX 480 ($6.00) and set an “overweight” rating for the company in a research report on Thursday, March 10th. Morgan Stanley reiterated an “overweight” rating and set a GBX 490 ($6.12) price objective on shares of BP in a research report on Monday, April 11th. Citigroup reissued a “neutral” rating and issued a GBX 375 ($4.68) target price on shares of BP in a research report on Monday, February 28th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 450 ($5.62) price target on shares of BP in a research report on Wednesday, March 23rd. Finally, Barclays reissued an “overweight” rating and issued a GBX 700 ($8.74) price objective on shares of BP in a report on Wednesday, April 6th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, BP has a consensus rating of “Buy” and a consensus price target of GBX 469.38 ($5.86).

Shares of BP stock opened at GBX 391.55 ($4.89) on Tuesday. The company has a quick ratio of 0.73, a current ratio of 1.15 and a debt-to-equity ratio of 77.17. The company has a 50 day moving average price of GBX 378.48 and a 200-day moving average price of GBX 366.58. BP has a 52 week low of GBX 275.85 ($3.45) and a 52 week high of GBX 419.15 ($5.24). The firm has a market capitalization of £76.63 billion and a PE ratio of 13.18.

In other BP news, insider Bernard Looney purchased 83 shares of the firm’s stock in a transaction on Thursday, March 10th. The shares were acquired at an average cost of GBX 372 ($4.65) per share, with a total value of £308.76 ($385.71). Also, insider Murray Auchincloss acquired 90 shares of the company’s stock in a transaction dated Thursday, February 10th. The stock was acquired at an average cost of GBX 410 ($5.12) per share, with a total value of £369 ($460.96). Insiders have bought a total of 268 shares of company stock worth $104,921 over the last 90 days.

BP Company Profile (Get Rating)

BP p.l.c. engages in the energy business worldwide. It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. It produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such as hydrogen and carbon capture and storage.

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