BP plc (BP) PT Raised to GBX 530 at Canaccord Genuity

BP plc (LON:BP) had its price target hoisted by equities researchers at Canaccord Genuity from GBX 510 ($6.71) to GBX 530 ($6.97) in a research note issued to investors on Wednesday. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Canaccord Genuity’s target price would indicate a potential upside of 7.84% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Macquarie cut BP plc from a “neutral” rating to an “underperform” rating and cut their target price for the company from to in a research note on Wednesday, June 21st. Deutsche Bank AG restated a “buy” rating and issued a GBX 515 ($6.77) target price on shares of BP plc in a research note on Wednesday, June 21st. Barclays PLC restated an “overweight” rating and issued a GBX 625 ($8.22) target price on shares of BP plc in a research note on Tuesday, June 20th. UBS AG set a GBX 525 ($6.90) target price on BP plc and gave the company a “buy” rating in a research note on Monday, June 19th. Finally, J P Morgan Chase & Co set a GBX 500 ($6.57) target price on BP plc and gave the company a “buy” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of GBX 511.05 ($6.72).

BP plc (BP) opened at 493.30 on Wednesday. The company has a 50 day moving average of GBX 461.92 and a 200-day moving average of GBX 458.17. The stock’s market capitalization is GBX 97.11 billion. BP plc has a 52-week low of GBX 432.15 and a 52-week high of GBX 521.20.

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In other news, insider Brian Gilvary acquired 70 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were purchased at an average cost of GBX 446 ($5.86) per share, with a total value of £312.20 ($410.47). Over the last ninety days, insiders acquired 201 shares of company stock worth $93,730.

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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