BP (LON:BP) had its price objective decreased by Morgan Stanley from GBX 650 ($8.49) to GBX 595 ($7.77) in a research note released on Tuesday morning. Morgan Stanley currently has an overweight rating on the oil and gas exploration company’s stock.
Several other analysts also recently issued reports on the company. Berenberg Bank cut their price target on BP from GBX 665 ($8.69) to GBX 600 ($7.84) and set a buy rating on the stock in a report on Wednesday. Goldman Sachs Group reissued a buy rating and issued a GBX 760 ($9.93) price target (up previously from GBX 750 ($9.80)) on shares of BP in a report on Monday, January 7th. UBS Group reaffirmed a buy rating and set a GBX 610 ($7.97) target price on shares of BP in a research note on Friday, January 4th. Royal Bank of Canada reaffirmed a top pick rating and set a GBX 700 ($9.15) target price on shares of BP in a research note on Friday, January 4th. Finally, Credit Suisse Group set a GBX 650 ($8.49) target price on BP and gave the company a buy rating in a research note on Monday, December 31st. Two investment 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 company’s stock. BP presently has a consensus rating of Buy and a consensus target price of GBX 644.74 ($8.42).
Shares of LON BP opened at GBX 521.20 ($6.81) on Tuesday. BP has a 12-month low of GBX 436.95 ($5.71) and a 12-month high of GBX 536.20 ($7.01).
In other news, insider Helge Lund acquired 600,000 shares of the company’s stock in a transaction dated Thursday, December 20th. The shares were bought at an average price of GBX 493 ($6.44) per share, with a total value of £2,958,000 ($3,865,150.92). Also, insider Brian Gilvary acquired 60 shares of the company’s stock in a transaction dated 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). Insiders have acquired a total of 600,123 shares of company stock worth $295,863,885 in the last ninety 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).
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