Royal Bank of Canada Reiterates GBX 550 Price Target for BP (LON:BP)

Royal Bank of Canada set a GBX 550 ($7.23) price objective on BP (LON:BP) in a report published on Wednesday, Borsen Zeitung reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

A number of other research firms have also commented on BP. DZ Bank lowered their target price on shares of 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. UBS Group reaffirmed a buy rating and set a GBX 570 ($7.50) target price on shares of BP in a report on Tuesday, February 4th. Barclays reaffirmed a buy rating and set a GBX 650 ($8.55) target price on shares of BP in a report on Tuesday. Main First Bank started coverage on shares of BP in a report on Wednesday, December 4th. They set an outperform rating and a GBX 620 ($8.16) target price for the company. Finally, Kepler Capital Markets lowered their target price on shares of BP from GBX 650 ($8.55) to GBX 610 ($8.02) and set a buy rating for the company in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. BP currently has an average rating of Buy and an average price target of GBX 601.47 ($7.91).

BP opened at GBX 456.85 ($6.01) on Wednesday. The company has a fifty day moving average price of GBX 482.31 and a two-hundred day moving average price of GBX 495.57. The company has a debt-to-equity ratio of 76.90, a quick ratio of 0.66 and a current ratio of 1.12. BP has a 52 week low of GBX 4.69 ($0.06) and a 52 week high of GBX 583.40 ($7.67). The firm has a market capitalization of $93.73 billion and a PE ratio of 23.19.

The company also recently declared a dividend, which will be paid on Friday, March 27th. Stockholders of record on Thursday, February 13th will be issued a $0.11 dividend. This is a positive change from BP’s previous dividend of $0.10. The ex-dividend date of this dividend is Thursday, February 13th. This represents a dividend yield of 1.78%. BP’s payout ratio is 1.62%.

In other news, insider Brian Gilvary purchased 65 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was bought at an average price of GBX 471 ($6.20) per share, with a total value of £306.15 ($402.72).

BP Company Profile

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).

Further Reading: How is the LIBOR rate calculated?

Analyst Recommendations for BP (LON:BP)

Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.