Royal Bank Of Canada Reiterates Buy Rating for BP (LON:BP)

BP (LON:BP)‘s stock had its “buy” rating reaffirmed by equities researchers at Royal Bank Of Canada in a research note issued to investors on Wednesday,MarketScreener reports.

Several other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group restated a “neutral” rating and issued a $6.50 target price on shares of BP in a report on Thursday, May 21st. Morgan Stanley upgraded BP to an “overweight” rating in a research note on Wednesday, March 25th. Barclays reaffirmed a “buy” rating on shares of BP in a report on Tuesday, May 26th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of BP in a research report on Friday, June 5th. Finally, DZ Bank reissued a “buy” rating on shares of BP in a report on Tuesday, April 28th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 613.

BP Stock Performance

Shares of LON BP traded down GBX 5.60 during trading on Wednesday, reaching GBX 467.10. 52,408,196 shares of the company traded hands, compared to its average volume of 8,560,774. The firm has a 50 day simple moving average of GBX 537.51 and a 200-day simple moving average of GBX 504.40. BP has a 52-week low of GBX 379.70 and a 52-week high of GBX 562.30. The stock has a market capitalization of £90.91 billion, a PE ratio of 34.89, a P/E/G ratio of 0.35 and a beta of 0.06. The company has a quick ratio of 0.62, a current ratio of 1.22 and a debt-to-equity ratio of 132.55.

About BP

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.