BP (LON:BP) Stock Price Expected to Rise, Berenberg Bank Analyst Says

BP (LON:BP) had its target price raised by research analysts at Berenberg Bank from GBX 590 to GBX 600 in a research note issued on Wednesday,Digital Look reports. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Berenberg Bank’s price objective suggests a potential upside of 18.18% from the stock’s current price.

Other research analysts have also issued reports about the stock. Barclays restated a “buy” rating on shares of BP in a research report on Tuesday, May 26th. UBS Group reiterated a “buy” rating on shares of BP in a research report on Tuesday, June 16th. Royal Bank Of Canada reissued a “buy” rating on shares of BP in a research note on Wednesday, July 1st. DZ Bank restated a “buy” rating on shares of BP in a research report on Tuesday, April 28th. Finally, Morgan Stanley upgraded BP to an “overweight” rating in a research note on Wednesday, March 25th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of GBX 605.

BP Stock Performance

BP stock opened at GBX 507.70 on Wednesday. BP has a 1-year low of GBX 379.70 and a 1-year high of GBX 562.30. The company has a current ratio of 1.22, a quick ratio of 0.62 and a debt-to-equity ratio of 132.55. The firm has a market capitalization of £98.81 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06. The firm’s 50 day simple moving average is GBX 517.16 and its 200 day simple moving average is GBX 508.76.

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. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.