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

BP (LON:BP) had its target price boosted by stock analysts at Berenberg Bank from GBX 650 to GBX 715 in a note issued to investors on Wednesday, Digital Look reports. The brokerage presently has a “buy” rating on the oil and gas exploration company’s stock. Berenberg Bank’s target price suggests a potential upside of 18.03% from the stock’s previous close.

Several other brokerages also recently commented on BP. Jefferies Financial Group reissued a “hold” rating and set a GBX 520 price objective on shares of BP in a research report on Wednesday, October 14th. JPMorgan Chase & Co. lifted their target price on shares of BP from GBX 550 to GBX 675 and gave the stock an “overweight” rating in a report on Wednesday, September 23rd. UBS Group reaffirmed a “buy” rating on shares of BP in a report on Monday, September 28th. Royal Bank Of Canada reiterated a “buy” rating on shares of BP in a research note on Thursday, September 24th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of BP in a report on Wednesday, July 1st. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of GBX 627.

BP Price Performance

BP opened at GBX 605.80 on Wednesday. The stock has a 50-day moving average price of GBX 555.69 and a 200-day moving average price of GBX 542.05. The company has a debt-to-equity ratio of 124.41, a current ratio of 1.27 and a quick ratio of 0.62. The firm has a market cap of £117.91 billion, a PE ratio of 45.25, a P/E/G ratio of 0.35 and a beta of 0.06. BP has a 1 year low of GBX 379.70 and a 1 year high of GBX 562.30.

BP Company Profile

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.