BP (LON:BP) Rating Increased to Outperform at Royal Bank Of Canada

BP (LON:BP) was upgraded by analysts at Royal Bank Of Canada to an “outperform” rating in a report issued on Friday, London Stock Exchange reports. The brokerage currently has a GBX 700 price objective on the oil and gas exploration company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 29.70% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Barclays reissued a “buy” rating on shares of BP in a report on Tuesday, May 26th. The Goldman Sachs Group restated a “buy” rating on shares of BP in a report on Wednesday, July 1st. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 520 price target on shares of BP in a research report on Tuesday, August 25th. Berenberg Bank increased their price target on shares of BP from GBX 600 to GBX 605 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Finally, UBS Group reissued a “buy” rating on shares of BP in a research report on Tuesday, June 16th. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 580.

BP Stock Down 0.5%

BP stock opened at GBX 539.70 on Friday. The company has a market cap of £105.04 billion, a price-to-earnings ratio of 40.31, a P/E/G ratio of 0.35 and a beta of 0.06. BP has a twelve month low of GBX 379.70 and a twelve month high of GBX 562.30. The business has a 50 day moving average price of GBX 515.96 and a two-hundred day moving average price of GBX 529.92. The company has a quick ratio of 0.62, a current ratio of 1.27 and a debt-to-equity ratio of 124.41.

BP News Summary

Here are the key news stories impacting BP this week:

• Positive Sentiment: Brokerages collectively maintain a “Moderate Buy” consensus recommendation for BP, indicating that analysts generally view the shares as attractively valued despite the company’s strategic and governance challenges. BP receives Moderate Buy consensus
• Positive Sentiment: BP appointed Ian Tyler, the former Balfour Beatty chief executive, as chair with immediate effect. A permanent replacement could provide stability and help the board execute its strategy, including the company’s renewed emphasis on oil and gas. BP appoints Ian Tyler as chairman
• Neutral Sentiment: Tyler replaces Albert Manifold after Manifold was removed over conduct and governance concerns. The leadership transition may remove uncertainty around the chairmanship, but investors will likely watch for details on Tyler’s priorities and his ability to rebuild confidence in BP’s board. BP names Ian Tyler as chair
• Negative Sentiment: The abrupt ousting of Manifold following reported bullying, conduct or broader governance concerns raises questions about BP’s board culture and oversight. The episode could weigh on investor confidence and distract management as the company works to improve performance and reshape its strategy. BP names new chair after boardroom dispute

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.