Credit Suisse Group Reiterates GBX 665 Price Target for BP (BP)

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Credit Suisse Group set a GBX 665 ($8.69) target price on BP (LON:BP) in a report released on Wednesday. The firm currently has a buy rating on the oil and gas exploration company’s stock.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. set a GBX 650 ($8.49) price objective on BP and gave the stock a buy rating in a report on Tuesday, August 7th. Royal Bank of Canada restated a top pick rating and issued a GBX 700 ($9.15) price objective on shares of BP in a report on Monday, October 15th. Kepler Capital Markets upgraded BP to a buy rating and increased their price objective for the stock from GBX 530 ($6.93) to GBX 650 ($8.49) in a report on Thursday, June 28th. Societe Generale restated a buy rating on shares of BP in a report on Thursday, June 28th. Finally, Barclays restated an overweight rating on shares of BP in a report on Wednesday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. BP currently has a consensus rating of Buy and an average target price of GBX 631.90 ($8.26).

LON:BP opened at GBX 557.50 ($7.28) on Wednesday. BP has a 52 week low of GBX 436.95 ($5.71) and a 52 week high of GBX 536.20 ($7.01).

The business also recently announced a dividend, which was paid on Friday, September 21st. Shareholders of record on Thursday, August 9th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 9th. This represents a yield of 1.38%. This is a boost from BP’s previous dividend of $0.10.

In related news, insider Brian Gilvary bought 58 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was purchased at an average price of GBX 564 ($7.37) per share, with a total value of £327.12 ($427.44). Insiders have acquired 169 shares of company stock valued at $94,545 in 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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