BP (LON:BP) Stock Price Expected to Rise, Berenberg Bank Analyst Says

BP (LON:BP) had its price objective upped by stock analysts at Berenberg Bank from GBX 600 to GBX 605 in a research report issued on Tuesday,London Stock Exchange reports. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Berenberg Bank’s price objective would indicate a potential upside of 16.44% from the company’s previous close.

Several other brokerages have also recently commented on BP. Barclays restated a “buy” rating on shares of BP in a research report on Tuesday, May 26th. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 700 price target on shares of BP in a research report on Wednesday, August 5th. UBS Group reissued a “buy” rating on shares of BP in a research note on Tuesday, June 16th. DZ Bank restated a “buy” rating on shares of BP in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. cut their target price on BP from GBX 600 to GBX 550 and set a “neutral” rating for the company in a research note on Friday, July 3rd. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 580.

BP Trading Down 0.6%

Shares of BP stock opened at GBX 519.60 on Tuesday. The company has a market capitalization of £101.13 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 0.35 and a beta of 0.06. The company has a quick ratio of 0.62, a current ratio of 1.27 and a debt-to-equity ratio of 124.41. BP has a 12-month low of GBX 379.70 and a 12-month high of GBX 562.30. The firm’s 50-day moving average price is GBX 511.88 and its two-hundred day moving average price is GBX 523.83.

About BP

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.