BP (LON:BP) Earns Overweight Rating from Morgan Stanley

BP (LON:BP)‘s stock had its “overweight” rating reiterated by research analysts at Morgan Stanley in a research note issued to investors on Friday, Digital Look reports. They currently have a GBX 620 ($8.10) price target on the oil and gas exploration company’s stock. Morgan Stanley’s target price would indicate a potential upside of 13.55% from the company’s previous close.

BP has been the topic of a number of other reports. Societe Generale reiterated a “hold” rating on shares of KONE OYJ/ADR in a research report on Thursday, May 2nd. Kepler Capital Markets set a €70.00 ($81.40) price objective on Bayer and gave the company a “neutral” rating in a research report on Thursday, June 27th. Deutsche Bank increased their price objective on Spirit Airlines from $75.00 to $79.00 and gave the company a “buy” rating in a research report on Friday. Barclays reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, April 30th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $32.00 price objective (down from $40.00) on shares of Healthcare Services Group in a research report on Friday. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. BP currently has a consensus rating of “Buy” and a consensus target price of GBX 650 ($8.49).

LON BP traded up GBX 0.20 ($0.00) during trading hours on Friday, reaching GBX 546 ($7.13). 18,521,112 shares of the company’s stock were exchanged, compared to its average volume of 35,510,000. The company has a market cap of $111.34 billion and a PE ratio of 11.19. BP has a one year low of GBX 481.35 ($6.29) and a one year high of GBX 603.20 ($7.88). The business’s fifty day simple moving average is GBX 546.31. The company has a debt-to-equity ratio of 87.27, a quick ratio of 0.66 and a current ratio of 1.02.

In other news, insider Brian Gilvary purchased 58 shares of the company’s stock in a transaction on Monday, June 10th. The shares were purchased at an average price of GBX 552 ($7.21) per share, with a total value of £320.16 ($418.35). Insiders acquired a total of 174 shares of company stock worth $94,192 in the last three months.

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).

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Analyst Recommendations for BP (LON:BP)

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