BP (LON:BP) had its price target upped by equities research analysts at Morgan Stanley from GBX 401 ($5.42) to GBX 465 ($6.29) in a research report issued to clients and investors on Friday, Analyst Ratings Network reports. The firm presently has an “equal weight” rating on the oil and gas exploration company’s stock. Morgan Stanley’s target price suggests a potential upside of 11.46% from the company’s current price.
A number of other research firms have also weighed in on BP. JPMorgan Chase & Co. raised their target price on BP from GBX 590 ($7.98) to GBX 600 ($8.11) and gave the company an “overweight” rating in a report on Wednesday, February 9th. Barclays restated an “overweight” rating and issued a GBX 700 ($9.47) target price on shares of BP in a report on Tuesday, February 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of BP in a report on Tuesday, February 8th. Berenberg Bank lifted their price target on BP from GBX 450 ($6.09) to GBX 475 ($6.42) and gave the stock a “buy” rating in a report on Wednesday, February 9th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a GBX 425 ($5.75) price target on shares of BP in a report on Friday, November 19th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of GBX 453.22 ($6.13).
BP stock opened at GBX 417.20 ($5.64) on Friday. BP has a twelve month low of GBX 254 ($3.43) and a twelve month high of GBX 418 ($5.65). The company has a quick ratio of 0.73, a current ratio of 1.16 and a debt-to-equity ratio of 80.48. The firm has a 50 day moving average of GBX 363.74. The company has a market capitalization of £82.04 billion and a price-to-earnings ratio of 17.38.
In other news, insider Bernard Looney bought 93 shares of the stock in a transaction on Friday, December 10th. The shares were purchased at an average cost of GBX 344 ($4.65) per share, for a total transaction of £319.92 ($432.62). Also, insider Murray Auchincloss purchased 90 shares of BP stock in a transaction dated Thursday, February 10th. The stock was bought at an average price of GBX 410 ($5.54) per share, with a total value of £369 ($498.99).
About BP
BP p.l.c. engages in the energy business worldwide. It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. It produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such as hydrogen, and carbon capture, usage and storage.