JPMorgan Chase & Co. Forecasts Strong Price Appreciation for BP (LON:BP) Stock

BP (LON:BP) had its price target lifted by equities researchers at JPMorgan Chase & Co. from GBX 460 to GBX 480 in a research note issued to investors on Friday,Digital Look reports. The firm currently has a “neutral” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 3.23% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Berenberg Bank raised their price objective on BP from GBX 490 to GBX 525 and gave the company a “buy” rating in a report on Tuesday, November 4th. Royal Bank Of Canada reissued a “sector perform” rating and set a GBX 500 price target on shares of BP in a research note on Thursday, November 6th. Citigroup upped their price objective on shares of BP from GBX 475 to GBX 525 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a GBX 420 target price on shares of BP in a research report on Monday, November 17th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 490.

BP Price Performance

Shares of LON:BP traded up GBX 1 during trading on Friday, reaching GBX 465. The company had a trading volume of 36,117,788 shares, compared to its average volume of 8,560,774. The company has a fifty day moving average of GBX 442.03 and a two-hundred day moving average of GBX 412.88. The company has a current ratio of 1.22, a quick ratio of 0.62 and a debt-to-equity ratio of 105.65. The stock has a market capitalization of £90.50 billion, a P/E ratio of 34.73, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. BP has a 12 month low of GBX 379.70 and a 12 month high of GBX 562.30.

Insider Transactions at BP

In other BP news, insider Amanda Blanc purchased 23,600 shares of the stock in a transaction on Friday, September 19th. The stock was acquired at an average price of GBX 426 per share, with a total value of £100,536. In the last quarter, insiders bought 23,617 shares of company stock worth $10,061,041. 0.26% of the stock is owned by insiders.

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.