Berenberg Bank Begins Coverage on BP (BP)
Berenberg Bank began coverage on shares of BP (LON:BP) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a GBX 665 ($8.66) price target on the oil and gas exploration company’s stock.
Several other brokerages have also recently weighed in on BP. JPMorgan Chase & Co. boosted their price objective on BP from GBX 560 ($7.29) to GBX 600 ($7.82) and gave the stock an overweight rating in a research note on Tuesday, May 22nd. Jefferies Financial Group boosted their price objective on BP from GBX 520 ($6.77) to GBX 610 ($7.95) and gave the stock a hold rating in a research note on Monday, June 11th. Barclays set a GBX 705 ($9.18) price objective on BP and gave the stock a buy rating in a research note on Thursday, July 5th. Kepler Capital Markets reissued a buy rating on shares of BP in a research note on Wednesday, July 4th. Finally, Goldman Sachs Group set a GBX 730 ($9.51) price objective on BP and gave the stock a buy rating in a research note on Wednesday, July 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of GBX 617.95 ($8.05).
Shares of LON BP opened at GBX 549 ($7.15) on Tuesday. BP has a 1-year low of GBX 436.95 ($5.69) and a 1-year high of GBX 536.20 ($6.98).
In other BP news, insider Brian Gilvary bought 58 shares of the company’s stock in a transaction on Monday, September 10th. The stock was acquired at an average price of GBX 537 ($6.99) per share, for a total transaction of £311.46 ($405.71). Insiders have acquired 169 shares of company stock valued at $94,863 in the last 90 days.
BP Company Profile
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).
Further Reading: Return on Investment (ROI) Defined, Explained
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