BP (LON:BP) has been assigned a GBX 610 ($7.97) price objective by equities researchers at UBS Group in a note issued to investors on Thursday, www.boersen-zeitung.de reports. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. UBS Group’s price target suggests a potential upside of 17.04% from the stock’s current price.
BP has been the subject of several other reports. Goldman Sachs Group set a GBX 750 ($9.80) price objective on shares of BP and gave the stock a “buy” rating in a research report on Tuesday, December 4th. Raymond James upgraded shares of BP to an “outperform” rating in a research report on Tuesday, November 20th. Deutsche Bank cut their price objective on shares of BP from GBX 620 ($8.10) to GBX 590 ($7.71) and set a “buy” rating for the company in a research report on Monday, December 10th. Barclays restated an “overweight” rating and set a GBX 705 ($9.21) price objective on shares of BP in a research report on Monday, October 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of BP from GBX 650 ($8.49) to GBX 575 ($7.51) and set an “overweight” rating for the company in a research report on Thursday, November 29th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of GBX 644.74 ($8.42).
Shares of LON:BP opened at GBX 521.20 ($6.81) on Thursday. BP has a 52-week low of GBX 436.95 ($5.71) and a 52-week high of GBX 536.20 ($7.01).
In other news, insider Brian Gilvary acquired 60 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The shares were acquired at an average cost of GBX 524 ($6.85) per share, with a total value of £314.40 ($410.82). 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 purchased at an average cost of GBX 493 ($6.44) per share, for a total transaction of £2,958,000 ($3,865,150.92). Insiders have bought 600,123 shares of company stock worth $295,863,885 over the last ninety days.
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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