BP (BP) Given a GBX 700 Price Target at Royal Bank of Canada

BP (LON:BP) received a GBX 700 ($9.12) target price from stock analysts at Royal Bank of Canada in a note issued to investors on Monday. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 20.84% from the stock’s previous close.

Several other equities analysts also recently weighed in on BP. Jefferies Financial Group raised their target price on BP from GBX 520 ($6.77) to GBX 610 ($7.95) and gave the company a “hold” rating in a research report on Monday, June 11th. JPMorgan Chase & Co. set a GBX 600 ($7.82) target price on BP and gave the company a “buy” rating in a research report on Monday, June 11th. Barclays restated an “overweight” rating and issued a GBX 690 ($8.99) target price on shares of BP in a research report on Tuesday, June 12th. Goldman Sachs Group set a GBX 700 ($9.12) target price on BP and gave the company a “buy” rating in a research report on Wednesday, June 20th. Finally, Citigroup restated a “buy” rating and issued a GBX 650 ($8.47) target price on shares of BP in a research report on Thursday, June 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of GBX 625 ($8.14).

Shares of LON BP traded down GBX 9.20 ($0.12) during midday trading on Monday, hitting GBX 579.30 ($7.55). The stock had a trading volume of 9,937,527 shares, compared to its average volume of 35,510,000. BP has a 1 year low of GBX 436.95 ($5.69) and a 1 year high of GBX 536.20 ($6.98).

In related news, insider Brian Gilvary acquired 58 shares of BP stock in a transaction that occurred on Friday, August 10th. The shares were purchased at an average price of GBX 564 ($7.35) per share, for a total transaction of £327.12 ($426.10). In the last quarter, insiders have purchased 169 shares of company stock worth $94,863.

About BP

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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