BP (BP) PT Lowered to GBX 560 at JPMorgan Chase & Co.

BP (LON:BP) had its price objective cut by JPMorgan Chase & Co. from GBX 575 ($7.51) to GBX 560 ($7.32) in a research report released on Friday, MarketBeat reports. They currently have an overweight rating on the oil and gas exploration company’s stock.

Several other brokerages have also recently weighed in on BP. Royal Bank of Canada set a GBX 700 ($9.15) price target on BP and gave the company a buy rating in a research report on Wednesday, November 14th. UBS Group reiterated a buy rating on shares of BP in a research report on Tuesday, November 27th. Goldman Sachs Group set a GBX 730 ($9.54) price target on BP and gave the company a buy rating in a research report on Monday, October 1st. Barclays decreased their price target on BP from GBX 705 ($9.21) to GBX 700 ($9.15) and set an overweight rating on the stock in a research report on Thursday, January 10th. Finally, Kepler Capital Markets decreased their price target on BP from GBX 735 ($9.60) to GBX 680 ($8.89) and set a buy rating on the stock in a research report on Monday, November 26th. One equities research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of GBX 646.39 ($8.45).

Shares of BP stock opened at GBX 523.30 ($6.84) on Friday. BP has a 52-week low of GBX 436.95 ($5.71) and a 52-week high of GBX 536.20 ($7.01).

In related news, insider Brian Gilvary sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of GBX 534 ($6.98), for a total value of £106,800 ($139,553.12). Also, insider Helge Lund acquired 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 20th. The stock was bought at an average price of GBX 493 ($6.44) per share, for a total transaction of £2,958,000 ($3,865,150.92). Over the last 90 days, insiders purchased 600,183 shares of company stock worth $295,895,265.

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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