JPMorgan Chase & Co. Raises BP (LON:BP) Price Target to GBX 675

BP (LON:BP) had its target price upped by JPMorgan Chase & Co. from GBX 550 to GBX 675 in a report released on Wednesday, Digital Look reports. The brokerage currently has an “overweight” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 24.47% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group reiterated a “buy” rating on shares of BP in a report on Wednesday, July 1st. UBS Group reissued a “buy” rating on shares of BP in a report on Tuesday, June 16th. Barclays restated a “buy” rating on shares of BP in a research report on Tuesday, May 26th. Berenberg Bank upped their target price on BP from GBX 600 to GBX 605 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a GBX 520 price target on shares of BP in a research report on Tuesday, August 25th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 605.

BP Stock Down 0.1%

Shares of LON:BP opened at GBX 542.30 on Wednesday. The firm has a market capitalization of £105.55 billion, a PE ratio of 40.51, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06. The company has a debt-to-equity ratio of 124.41, a quick ratio of 0.62 and a current ratio of 1.27. BP has a 52-week low of GBX 379.70 and a 52-week high of GBX 562.30. The firm has a fifty day moving average of GBX 537.29 and a 200 day moving average of GBX 537.63.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.