UBS Group set a GBX 610 ($7.97) price target on BP (LON:BP) in a report published on Thursday, www.boersen-zeitung.de reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.
A number of other research analysts have also issued reports on BP. Morgan Stanley dropped their target price on BP from GBX 650 ($8.49) to GBX 595 ($7.77) and set an overweight rating on the stock in a report on Tuesday. Goldman Sachs Group reissued a buy rating and issued a GBX 760 ($9.93) target price (up previously from GBX 750 ($9.80)) on shares of BP in a report on Monday. Credit Suisse Group set a GBX 665 ($8.69) target price on BP and gave the company a buy rating in a report on Wednesday, October 17th. Berenberg Bank set a GBX 665 ($8.69) target price on BP and gave the company a buy rating in a report on Wednesday, December 5th. Finally, Royal Bank of Canada set a GBX 700 ($9.15) target price on BP and gave the company a buy rating in a report on Wednesday, November 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of GBX 635 ($8.30).
BP traded down GBX 5.80 ($0.08) during trading on Thursday, hitting GBX 521.20 ($6.81). 20,552,173 shares of the stock were exchanged, compared to its average volume of 35,510,000. BP has a 1-year low of GBX 436.95 ($5.71) and a 1-year high of GBX 536.20 ($7.01).
In other BP news, insider Brian Gilvary bought 60 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was purchased at an average cost 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 company’s stock in a transaction that occurred on Thursday, December 20th. The stock was acquired at an average price of GBX 493 ($6.44) per share, with a total value of £2,958,000 ($3,865,150.92). Insiders bought 600,123 shares of company stock worth $295,863,885 over the last 90 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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