BP (LON:BP) Price Target Increased to GBX 655 by Analysts at HSBC

BP (LON:BP) had its price objective upped by HSBC from GBX 650 ($8.49) to GBX 655 ($8.56) in a research note released on Wednesday, Borsen Zeitung reports. The firm currently has a buy rating on the oil and gas exploration company’s stock.

BP has been the subject of several other reports. Sanford C. Bernstein downgraded Encana from an outperform rating to a market perform rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. upped their price target on Weight Watchers International from $12.00 to $14.00 and gave the stock an underweight rating in a research note on Tuesday, April 30th. UBS Group upped their price target on Spotify Technology from $180.00 to $182.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Credit Suisse Group restated an outperform rating and issued a GBX 2,012 ($26.29) price target on shares of Aston Martin Lagonda Global in a research note on Wednesday, May 1st. Finally, Berenberg Bank restated a buy rating and issued a GBX 620 ($8.10) price target on shares of in a research note on Friday, June 21st. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. BP has an average rating of Buy and a consensus target price of GBX 650 ($8.49).

BP stock opened at GBX 546 ($7.13) on Wednesday. BP has a 1-year low of GBX 481.35 ($6.29) and a 1-year high of GBX 603.20 ($7.88). The company has a quick ratio of 0.66, a current ratio of 1.02 and a debt-to-equity ratio of 87.27. The company has a market cap of $111.34 billion and a P/E ratio of 11.19. The business has a 50 day simple moving average of GBX 546.35.

The company also recently disclosed a dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, May 9th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, May 9th. This represents a dividend yield of 1.43%. BP’s dividend payout ratio (DPR) is 0.66%.

In other news, insider Brian Gilvary acquired 58 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of GBX 552 ($7.21) per share, with a total value of £320.16 ($418.35). Insiders have bought a total of 174 shares of company stock worth $94,192 over the last ninety days.

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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