BP (LON:BP) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of BP (LON:BP) in a report released on Thursday morning, ThisIsMoney.Co.Uk reports.

A number of other brokerages have also commented on BP. JPMorgan Chase & Co. restated a buy rating and set a $69.00 price objective on shares of Daimler in a research report on Friday, July 12th. Sanford C. Bernstein downgraded Encana from an outperform rating to a market perform rating in a research note on Tuesday, April 30th. UBS Group raised their price target on Spotify Technology from $180.00 to $182.00 and gave the stock a buy rating in a research note on Tuesday, April 30th. Jefferies Financial Group reaffirmed a hold rating and set a $32.00 price target (down from $40.00) on shares of Healthcare Services Group in a research note on Friday, July 12th. Finally, Barclays reaffirmed a buy rating on shares of Alphabet in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. BP currently has a consensus rating of Buy and an average target price of GBX 650 ($8.49).

Shares of LON BP opened at GBX 517.70 ($6.76) on Thursday. BP has a one year low of GBX 481.35 ($6.29) and a one year high of GBX 603.20 ($7.88). The firm has a market cap of $105.57 billion and a price-to-earnings ratio of 10.61. The company has a debt-to-equity ratio of 87.27, a current ratio of 1.02 and a quick ratio of 0.66. The business’s 50-day simple moving average is GBX 545.01.

In related news, insider Brian Gilvary acquired 58 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of GBX 552 ($7.21) per share, with a total value of £320.16 ($418.35). Insiders have bought a total of 174 shares of company stock valued at $94,192 over the last ninety days.

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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Analyst Recommendations for BP (LON:BP)

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