BP (BP) Given New GBX 600 Price Target at Berenberg Bank
BP (LON:BP) had its price target lowered by Berenberg Bank from GBX 665 ($8.69) to GBX 600 ($7.84) in a report published on Wednesday. The firm currently has a buy rating on the oil and gas exploration company’s stock.
Several other equities analysts also recently weighed in on BP. Barclays reiterated an overweight rating and issued a GBX 705 ($9.21) price target on shares of BP in a report on Tuesday, September 11th. JPMorgan Chase & Co. cut their price target on shares of BP from GBX 650 ($8.49) to GBX 625 ($8.17) and set an overweight rating on the stock in a report on Tuesday, September 11th. HSBC increased their price target on shares of BP from GBX 675 ($8.82) to GBX 690 ($9.02) and gave the stock a buy rating in a report on Wednesday, September 12th. Deutsche Bank reiterated a buy rating and issued a GBX 620 ($8.10) price target on shares of BP in a report on Wednesday, September 19th. Finally, Goldman Sachs Group set a GBX 730 ($9.54) price target on shares of BP and gave the stock a buy rating in a report on Monday, October 1st. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the stock. BP currently has an average rating of Buy and an average price target of GBX 644.74 ($8.42).
Shares of LON:BP opened at GBX 521.20 ($6.81) on Wednesday. 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 bought 60 shares of the firm’s stock in a transaction dated Monday, November 12th. The shares were purchased at an average price of GBX 524 ($6.85) per share, for a total transaction of £314.40 ($410.82). Also, insider Helge Lund bought 600,000 shares of the firm’s stock in a transaction dated Thursday, December 20th. The shares were acquired at an average price of GBX 493 ($6.44) per share, for a total transaction of £2,958,000 ($3,865,150.92). Insiders have bought a total of 600,123 shares of company stock worth $295,863,885 in the last ninety 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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