BP plc (BP) Earns “Overweight” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their overweight rating on shares of BP plc (LON:BP) in a report released on Thursday morning. The brokerage currently has a GBX 530 ($6.55) price objective on the oil and gas exploration company’s stock.

Other research analysts also recently issued research reports about the company. Citigroup Inc restated a buy rating and issued a GBX 510 ($6.30) target price on shares of BP plc in a research note on Wednesday, March 1st. Kepler Capital Markets set a GBX 520 ($6.42) target price on BP plc and gave the stock a neutral rating in a research note on Tuesday, January 10th. BNP Paribas restated an outperform rating and issued a GBX 560 ($6.92) target price on shares of BP plc in a research note on Wednesday, February 8th. Goldman Sachs Group Inc raised their target price on BP plc from GBX 435 ($5.37) to GBX 505 ($6.24) and gave the stock a neutral rating in a research note on Friday, December 16th. Finally, Barclays PLC restated an overweight rating and issued a GBX 625 ($7.72) target price on shares of BP plc in a research note on Tuesday, January 31st. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. BP plc has a consensus rating of Buy and an average price target of GBX 511.33 ($6.32).

Analyst Recommendations for BP plc (LON:BP)

Shares of BP plc (LON:BP) opened at 463.15 on Thursday. BP plc has a 52-week low of GBX 249.43 and a 52-week high of GBX 521.20. The stock’s market cap is GBX 90.03 billion. The stock’s 50 day moving average price is GBX 460.08 and its 200-day moving average price is GBX 468.29.

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In other news, insider Nils Smedegaard Andersen purchased 30,000 shares of BP plc stock in a transaction that occurred on Monday, February 20th. The shares were bought at an average cost of GBX 446 ($5.51) per share, with a total value of £133,800 ($165,246.39). Also, insider Brian Gilvary purchased 60 shares of BP plc stock in a transaction that occurred on Tuesday, January 10th. The stock was purchased at an average cost of GBX 514 ($6.35) per share, for a total transaction of £308.40 ($380.88). Insiders have bought 52,275 shares of company stock worth $24,825,500 over the last three months.

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.

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