BP (BP) PT Set at GBX 700 by Royal Bank of Canada

BP (LON:BP) has been assigned a GBX 700 ($9.15) target price by stock analysts at Royal Bank of Canada in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 30.48% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Berenberg Bank initiated coverage on shares of BP in a research report on Tuesday, September 11th. They issued a “buy” rating and a GBX 665 ($8.69) price target for the company. Goldman Sachs Group set a GBX 730 ($9.54) price target on shares of BP and gave the company a “buy” rating in a research report on Monday, October 1st. Deutsche Bank reiterated a “buy” rating and issued a GBX 620 ($8.10) price target on shares of BP in a research report on Wednesday, September 19th. HSBC lifted their price target on shares of BP from GBX 675 ($8.82) to GBX 690 ($9.02) and gave the company a “buy” rating in a research report on Wednesday, September 12th. Finally, JPMorgan Chase & Co. set a GBX 650 ($8.49) price target on shares of BP and gave the company a “buy” rating in a research report on Thursday, August 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. BP currently has an average rating of “Buy” and a consensus price target of GBX 633.57 ($8.28).

BP stock traded up GBX 4.50 ($0.06) during mid-day trading on Tuesday, hitting GBX 536.50 ($7.01). 30,084,241 shares of the company were exchanged, compared to its average volume of 35,510,000. BP has a 1-year low of GBX 436.95 ($5.71) and a 1-year high of GBX 536.20 ($7.01).

In other news, insider Brian Gilvary acquired 53 shares of the stock in a transaction on Wednesday, October 10th. The stock was acquired at an average cost of GBX 579 ($7.57) per share, for a total transaction of £306.87 ($400.98). Over the last 90 days, insiders have acquired 171 shares of company stock valued at $93,273.

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).

See Also: Balanced Fund

Analyst Recommendations for BP (LON:BP)

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