Barclays PLC Reaffirms “Overweight” Rating for BP plc (BP)

Barclays PLC restated their overweight rating on shares of BP plc (LON:BP) in a research report released on Tuesday, October 17th. The brokerage currently has a GBX 675 ($8.88) target price on the oil and gas exploration company’s stock.

Several other brokerages have also weighed in on BP. HSBC Holdings plc set a GBX 565 ($7.43) price objective on shares of BP plc and gave the company a buy rating in a report on Friday, October 13th. Canaccord Genuity increased their target price on shares of BP plc from GBX 510 ($6.71) to GBX 530 ($6.97) and gave the stock a buy rating in a report on Wednesday, October 11th. Royal Bank Of Canada reiterated a sector performer rating and issued a GBX 500 ($6.58) target price on shares of BP plc in a report on Thursday, October 12th. Deutsche Bank AG reissued a buy rating and set a GBX 520 ($6.84) price objective on shares of BP plc in a research report on Wednesday, October 4th. Finally, Goldman Sachs Group, Inc. (The) reissued a neutral rating and set a GBX 500 ($6.58) price objective on shares of BP plc in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the stock. BP plc presently has an average rating of Buy and a consensus target price of GBX 535.25 ($7.04).

Shares of BP plc (LON:BP) traded up GBX 4.30 ($0.06) during mid-day trading on Tuesday, hitting GBX 521.10 ($6.85). 28,250,645 shares of the stock were exchanged, compared to its average volume of 25,730,000. BP plc has a 12 month low of GBX 432.15 ($5.68) and a 12 month high of GBX 522.21 ($6.87).

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The firm also recently disclosed a dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, November 9th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, November 9th. This represents a yield of 1.47%.

In other news, insider Brian Gilvary bought 70 shares of BP plc stock in a transaction dated Monday, September 11th. The stock was purchased at an average price of GBX 446 ($5.87) per share, for a total transaction of £312.20 ($410.63). In the last 90 days, insiders have acquired 201 shares of company stock worth $93,730.

BP plc Company Profile

BP p.l.c. is an integrated oil and gas company. The Company owns an interest in OJSC Oil Company Rosneft (Rosneft), an oil and gas company. The Company’s segments include Upstream, Downstream, Rosneft, and Other businesses and corporate. The Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing.

Analyst Recommendations for BP plc (LON:BP)

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