BP (LON:BP) Earns Conviction-Buy Rating from Goldman Sachs Group

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BP (LON:BP)‘s stock had its “conviction-buy” rating restated by analysts at Goldman Sachs Group in a report released on Tuesday, ThisIsMoney.Co.Uk reports.

A number of other equities research analysts have also issued reports on BP. UBS Group reissued a “buy” rating and set a GBX 600 ($7.84) price target on shares of BP in a research note on Monday, July 29th. JPMorgan Chase & Co. set a GBX 625 ($8.17) price target on BP and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Deutsche Bank reissued a “buy” rating on shares of BP in a research note on Friday, July 12th. Morgan Stanley restated an “overweight” rating and set a GBX 620 ($8.10) price objective on shares of BP in a report on Tuesday, July 30th. Finally, HSBC set a GBX 645 ($8.43) price objective on BP and gave the stock a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. BP presently has a consensus rating of “Buy” and an average target price of GBX 652.94 ($8.53).

Shares of BP stock opened at GBX 498 ($6.51) on Tuesday. BP has a 52-week low of GBX 5.08 ($0.07) and a 52-week high of GBX 603.20 ($7.88). The company has a debt-to-equity ratio of 87.42, a current ratio of 1.07 and a quick ratio of 0.69. The company has a market cap of $101.52 billion and a price-to-earnings ratio of 11.37. The business’s 50 day simple moving average is GBX 530.72.

In other news, insider Brian Gilvary acquired 58 shares of BP stock in a transaction on Wednesday, July 10th. The shares were bought at an average cost of GBX 546 ($7.13) per share, for a total transaction of £316.68 ($413.80). Insiders have acquired a total of 179 shares of company stock worth $95,373 over the last 90 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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Analyst Recommendations for BP (LON:BP)

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