BP (LON:BP) PT Set at GBX 600 by JPMorgan Chase & Co.

BP (LON:BP) received a GBX 600 ($7.89) price objective from research analysts at JPMorgan Chase & Co. in a research note issued to investors on Thursday, Borsen Zeitung reports. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 31.33% from the stock’s previous close.

A number of other research firms have also issued reports on BP. DZ Bank reduced their target price on BP from GBX 600 ($7.89) to GBX 560 ($7.37) and set a “buy” rating for the company in a report on Wednesday, February 5th. Liberum Capital reduced their target price on BP from GBX 560 ($7.37) to GBX 540 ($7.10) and set a “buy” rating for the company in a report on Friday, February 7th. Barclays restated a “buy” rating and issued a GBX 650 ($8.55) target price on shares of BP in a report on Tuesday. Credit Suisse Group reduced their target price on BP from GBX 605 ($7.96) to GBX 570 ($7.50) and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Jefferies Financial Group set a GBX 590 ($7.76) target price on BP and gave the company a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. BP presently has an average rating of “Buy” and a consensus price target of GBX 601.47 ($7.91).

BP opened at GBX 456.85 ($6.01) on Thursday. The stock has a fifty day moving average of GBX 482.31 and a 200-day moving average of GBX 495.57. The firm has a market capitalization of $93.73 billion and a P/E ratio of 23.19. BP has a 12-month low of GBX 4.69 ($0.06) and a 12-month high of GBX 583.40 ($7.67). The company has a quick ratio of 0.66, a current ratio of 1.12 and a debt-to-equity ratio of 76.90.

In other news, insider Brian Gilvary acquired 65 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was acquired at an average cost of GBX 492 ($6.47) per share, for a total transaction of £319.80 ($420.68).

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).

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Analyst Recommendations for BP (LON:BP)

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