Goldman Sachs Group reaffirmed their buy rating on shares of BP (LON:BP) in a research report sent to investors on Monday. They currently have a GBX 760 ($9.93) price target on the oil and gas exploration company’s stock, up from their previous price target of GBX 750 ($9.80).
BP has been the topic of several other reports. Credit Suisse Group set a GBX 665 ($8.69) price objective on shares of BP and gave the company a buy rating in a report on Wednesday, October 17th. Berenberg Bank set a GBX 665 ($8.69) price objective on shares of BP and gave the company a buy rating in a report on Wednesday, December 5th. Royal Bank of Canada set a GBX 700 ($9.15) price objective on shares of BP and gave the company a buy rating in a report on Wednesday, November 14th. UBS Group set a GBX 610 ($7.97) price target on shares of BP and gave the stock a buy rating in a report on Thursday, November 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of BP from GBX 650 ($8.49) to GBX 575 ($7.51) and set an overweight rating on the stock in a report on Thursday, November 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of GBX 635 ($8.30).
LON:BP opened at GBX 527 ($6.89) on Monday. BP has a twelve month low of GBX 436.95 ($5.71) and a twelve month high of GBX 536.20 ($7.01).
In other BP news, insider Brian Gilvary sold 20,000 shares of the company’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of GBX 534 ($6.98), for a total transaction of £106,800 ($139,553.12). Also, insider Helge Lund acquired 600,000 shares of BP stock in a transaction on Thursday, December 20th. The shares were bought at an average price of GBX 493 ($6.44) per share, with a total value of £2,958,000 ($3,865,150.92). Insiders have acquired 600,123 shares of company stock valued at $295,863,885 over the last 90 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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