BP (LON:BP) Receives Overweight Rating from Barclays

BP (LON:BP)‘s stock had its “overweight” rating reiterated by research analysts at Barclays in a report released on Thursday, Marketbeat reports. They currently have a GBX 700 ($9.15) price objective on the oil and gas exploration company’s stock. Barclays‘s target price suggests a potential upside of 44.32% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. JPMorgan Chase & Co. set a GBX 625 ($8.17) price objective on shares of BP and gave the company a “buy” rating in a research note on Wednesday, September 18th. UBS Group reaffirmed a “buy” rating on shares of BP in a research note on Wednesday, August 28th. Goldman Sachs Group set a GBX 730 ($9.54) price objective on shares of BP and gave the company a “buy” rating in a research note on Monday, October 14th. Kepler Capital Markets set a GBX 680 ($8.89) price objective on shares of BP and gave the company a “buy” rating in a research note on Thursday, June 27th. Finally, Jefferies Financial Group reduced their price objective on shares of BP from GBX 625 ($8.17) to GBX 590 ($7.71) and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. BP presently has a consensus rating of “Buy” and a consensus price target of GBX 635.67 ($8.31).

Shares of LON:BP opened at GBX 485.05 ($6.34) on Thursday. The company has a 50 day moving average of GBX 503.59 and a 200 day moving average of GBX 532.19. The stock has a market cap of $98.97 billion and a P/E ratio of 11.07. BP has a 12 month low of GBX 5.08 ($0.07) and a 12 month high of GBX 583.40 ($7.62). The company has a current ratio of 1.07, a quick ratio of 0.69 and a debt-to-equity ratio of 75.21.

In related news, insider Brian Gilvary purchased 60 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was acquired at an average price of GBX 506 ($6.61) per share, with a total value of £303.60 ($396.71). In the last three months, insiders acquired 186 shares of company stock valued at $93,864.

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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