BP (LON:BP) PT Raised to GBX 500 at Berenberg Bank

BP (LON:BPGet Rating) had its target price increased by stock analysts at Berenberg Bank from GBX 450 ($5.62) to GBX 500 ($6.25) in a report issued on Thursday, LSE.Co.UK reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. Berenberg Bank’s price objective suggests a potential upside of 20.22% from the company’s previous close.

BP has been the topic of a number of other research reports. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 500 ($6.25) price target on shares of BP in a research note on Wednesday. Barclays reiterated an “overweight” rating and set a GBX 700 ($8.74) price target on shares of BP in a report on Tuesday. Citigroup reiterated a “neutral” rating and set a GBX 375 ($4.68) price target on shares of BP in a report on Monday, February 28th. Morgan Stanley reissued an “overweight” rating and set a GBX 490 ($6.12) target price on shares of BP in a research note on Monday, April 11th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 700 ($8.74) price objective on shares of BP in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, BP currently has a consensus rating of “Buy” and a consensus price target of GBX 509.38 ($6.36).

Shares of LON:BP opened at GBX 415.90 ($5.20) on Thursday. The company has a market capitalization of £81.40 billion and a price-to-earnings ratio of 14.00. The company has a debt-to-equity ratio of 77.17, a current ratio of 1.15 and a quick ratio of 0.73. The firm’s 50 day simple moving average is GBX 379.21 and its 200 day simple moving average is GBX 367.24. BP has a fifty-two week low of GBX 275.85 ($3.45) and a fifty-two week high of GBX 419.15 ($5.24).

In related 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 price of GBX 372 ($4.65) per share, for a total transaction of £308.76 ($385.71). Also, insider Murray Auchincloss bought 95 shares of BP stock in a transaction dated Monday, April 11th. The stock was acquired at an average price of GBX 391 ($4.88) per share, for a total transaction of £371.45 ($464.02). In the last three months, insiders acquired 268 shares of company stock valued at $104,921.

About BP (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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