BP (LON:BP) Price Target Raised to GBX 605

BP (LON:BP) had its target price raised by Berenberg Bank from GBX 600 to GBX 605 in a research note released on Tuesday morning, Marketbeat reports. They currently have a buy rating on the oil and gas exploration company’s stock.

Other equities analysts also recently issued research reports about the company. Barclays reiterated a “buy” rating on shares of BP in a research report on Tuesday, May 26th. UBS Group restated a “buy” rating on shares of BP in a report on Tuesday, June 16th. JPMorgan Chase & Co. lowered their target price on BP from GBX 600 to GBX 550 and set a “neutral” rating for the company in a research note on Friday, July 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 700 price target on shares of BP in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of BP in a research report on Wednesday, July 1st. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, BP currently has an average rating of “Moderate Buy” and a consensus target price of GBX 580.

BP Price Performance

Shares of BP stock opened at GBX 539.30 on Tuesday. The company has a debt-to-equity ratio of 124.41, a quick ratio of 0.62 and a current ratio of 1.27. The firm’s 50-day simple moving average is GBX 511.42 and its 200-day simple moving average is GBX 525.39. BP has a twelve month low of GBX 379.70 and a twelve month high of GBX 562.30. The firm has a market cap of £104.96 billion, a P/E ratio of 40.28, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.