BP plc (BP) Earns “Buy” Rating from HSBC Holdings plc
HSBC Holdings plc reiterated their buy rating on shares of BP plc (LON:BP) in a research report report published on Thursday morning. They currently have a GBX 565 ($6.98) price objective on the oil and gas exploration company’s stock.
A number of other research analysts have also issued reports on the stock. Credit Suisse Group AG upgraded shares of BP plc to an outperform rating and raised their target price for the company from GBX 480 ($5.93) to GBX 500 ($6.18) in a research note on Thursday, December 1st. Barclays PLC reiterated an overweight rating and issued a GBX 625 ($7.72) target price (up from GBX 515 ($6.36)) on shares of BP plc in a research note on Thursday, January 5th. Independent Research GmbH set a GBX 550 ($6.79) target price on shares of BP plc and gave the company a buy rating in a research note on Thursday, December 1st. Citigroup Inc reiterated a buy rating on shares of BP plc in a research note on Wednesday, December 14th. Finally, Morgan Stanley reiterated a buy rating on shares of BP plc in a research note on Wednesday, January 18th. Eleven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of GBX 511.33 ($6.32).
BP plc (LON:BP) opened at 463.15 on Thursday. The company’s 50 day moving average is GBX 460.08 and its 200 day moving average is GBX 468.29. BP plc has a 12-month low of GBX 249.43 and a 12-month high of GBX 521.20. The firm’s market cap is GBX 90.03 billion.
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In other BP plc news, insider Nils Smedegaard Andersen acquired 30,000 shares of BP plc stock in a transaction dated Monday, February 20th. The stock was bought at an average cost of GBX 446 ($5.51) per share, with a total value of £133,800 ($165,246.39). Also, insider Brian Gilvary acquired 60 shares of BP plc stock in a transaction dated Tuesday, January 10th. The shares were acquired at an average cost of GBX 514 ($6.35) per share, with a total value of £308.40 ($380.88). Insiders have bought a total of 52,275 shares of company stock valued at $24,825,500 over the last ninety days.
About BP plc
BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.
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