Royal Bank of Canada Reiterates “Outperform” Rating for BP (BP)
Royal Bank of Canada reissued their outperform rating on shares of BP (LON:BP) in a research note published on Tuesday, Borsen Zeitung reports. Royal Bank of Canada currently has a GBX 625 ($8.17) target price on the oil and gas exploration company’s stock.
A number of other research firms have also issued reports on BP. Deutsche Bank reissued a buy rating and set a GBX 590 ($7.71) price target on shares of BP in a research report on Tuesday, January 22nd. UBS Group set a GBX 610 ($7.97) price target on shares of BP and gave the stock a buy rating in a research report on Thursday, January 10th. Berenberg Bank reduced their price target on shares of BP from GBX 665 ($8.69) to GBX 600 ($7.84) and set a buy rating for the company in a research report on Wednesday, January 9th. Goldman Sachs Group set a GBX 760 ($9.93) price target on shares of BP and gave the stock a buy rating in a research report on Monday, January 14th. Finally, HSBC reduced their price target on shares of BP from GBX 690 ($9.02) to GBX 630 ($8.23) and set a buy rating for the company in a research report on Monday, January 14th. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. BP presently has an average rating of Buy and an average price target of GBX 651.47 ($8.51).
Shares of BP stock opened at GBX 567.70 ($7.42) on Tuesday. The company has a market capitalization of $114.59 billion and a P/E ratio of 12.16. The company has a quick ratio of 0.71, a current ratio of 1.05 and a debt-to-equity ratio of 79.22. BP has a 52 week low of GBX 481.35 ($6.29) and a 52 week high of GBX 603.20 ($7.88).
In other news, insider Brian Gilvary acquired 58 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average price of GBX 534 ($6.98) per share, with a total value of £309.72 ($404.70).
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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