BP plc (LON:BP) Price Target Cut to GBX 500 by Analysts at J P Morgan Chase & Co

BP plc (LON:BP) had its price objective reduced by stock analysts at J P Morgan Chase & Co from GBX 530 ($6.90) to GBX 500 ($6.51) in a research report issued on Thursday, July 13th. The brokerage currently has an “overweight” rating on the oil and gas exploration company’s stock. J P Morgan Chase & Co’s price objective would suggest a potential upside of 11.67% from the company’s previous close.

Several other research analysts have also issued reports on BP. UBS AG set a GBX 525 ($6.84) target price on BP plc and gave the company a “buy” rating in a research report on Tuesday, April 4th. Barclays PLC restated an “overweight” rating and set a GBX 625 ($8.14) target price on shares of BP plc in a research report on Tuesday, June 20th. Deutsche Bank AG restated a “buy” rating and set a GBX 515 ($6.71) target price on shares of BP plc in a research report on Wednesday, June 21st. Finally, Macquarie lowered BP plc from a “neutral” rating to an “underperform” rating and lowered their price target for the company from to in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of GBX 506.50 ($6.60).

BP plc (LON BP) traded down 2.18% on Thursday, reaching GBX 447.75. The company’s stock had a trading volume of 26,189,652 shares. The firm’s market cap is GBX 88.38 billion. The firm has a 50 day moving average of GBX 451.29 and a 200 day moving average of GBX 459.36. BP plc has a 12 month low of GBX 411.60 and a 12 month high of GBX 521.20.

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In other BP plc news, insider Brian Gilvary purchased 70 shares of the stock in a transaction on Monday, July 10th. The shares were bought at an average cost of GBX 444 ($5.78) per share, with a total value of £310.80 ($404.74).

BP plc Company Profile

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

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