Jefferies Financial Group Forecasts Strong Price Appreciation for BP (LON:BP) Stock

BP (LON:BP) had its price target increased by equities research analysts at Jefferies Financial Group from GBX 400 to GBX 420 in a research report issued on Friday, MarketBeat.com reports. The brokerage currently has a “hold” rating on the oil and gas exploration company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 2.18% from the stock’s previous close.

Several other analysts have also issued reports on the company. Royal Bank Of Canada reiterated a “sector perform” rating and set a GBX 470 target price on shares of BP in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on BP from GBX 420 to GBX 440 and gave the stock a “neutral” rating in a research report on Wednesday, August 6th. Finally, Berenberg Bank raised BP from a “hold” rating to a “buy” rating and increased their price objective for the company from GBX 385 to GBX 500 in a report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, BP currently has a consensus rating of “Hold” and an average target price of GBX 457.50.

BP Trading Down 0.5%

BP stock opened at GBX 411.05 on Friday. The firm has a 50-day moving average of GBX 424.94 and a 200-day moving average of GBX 391.90. BP has a one year low of GBX 379.70 and a one year high of GBX 562.30. The company has a debt-to-equity ratio of 105.65, a current ratio of 1.22 and a quick ratio of 0.62. The company has a market cap of £80.00 billion, a price-to-earnings ratio of 30.70, a P/E/G ratio of 0.35 and a beta of 0.49.

Insiders Place Their Bets

In related news, insider Amanda Blanc acquired 23,600 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were bought at an average cost of GBX 426 per share, for a total transaction of £100,536. In the last 90 days, insiders bought 23,617 shares of company stock valued at $10,060,861. 0.26% of the stock is owned by corporate insiders.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.