BP (LON:BP) Earns "Sector perform" Rating from Royal Bank Of Canada

Key Points

• BP's stock rating has been reaffirmed as "sector perform" by Royal Bank Of Canada, with a price target of GBX 470, indicating a potential upside of 9.53% from current levels.
• Other analysts have varied ratings for BP, with Jefferies maintaining a "hold" at GBX 390 and Berenberg upgrading to "buy" with a target of GBX 500.
• Insider trading activity shows that company insiders have recently acquired shares, suggesting confidence in the company's performance, with 0.26% of the stock currently owned by them.

Royal Bank Of Canada reaffirmed their sector perform rating on shares of BP (LON:BP - Free Report) in a report issued on Friday morning, MarketBeat Ratings reports. The brokerage currently has a GBX 470 target price on the oil and gas exploration company's stock.

A number of other analysts have also weighed in on BP. JPMorgan Chase & Co. increased their price objective on shares of BP from GBX 420 to GBX 440 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Jefferies Financial Group reiterated a "hold" rating and issued a GBX 390 price objective on shares of BP in a report on Tuesday, August 5th. Finally, Berenberg Bank raised shares of BP from a "hold" rating to a "buy" rating and lifted their target price for the stock from GBX 385 to GBX 500 in a research note on Wednesday, August 6th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of GBX 460.

BP Stock Up 0.7%

LON:BP traded up GBX 3 during midday trading on Friday, reaching GBX 432.10. 23,462,850 shares of the stock traded hands, compared to its average volume of 8,560,774. BP has a 12-month low of GBX 379.70 and a 12-month high of GBX 562.30. The business has a 50-day moving average of GBX 401.40 and a two-hundred day moving average of GBX 394.30. The company has a debt-to-equity ratio of 105.65, a quick ratio of 0.62 and a current ratio of 1.22. The stock has a market capitalization of £84.10 billion, a PE ratio of 32.28, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49.

Insider Buying and Selling

In other BP news, insider Murray Auchincloss purchased 97 shares of the company's stock in a transaction on Thursday, July 10th. The shares were purchased at an average cost of GBX 385 per share, for a total transaction of £373.45. Insiders have bought 117 shares of company stock valued at $45,074 in the last quarter. 0.26% of the stock is currently owned by insiders.

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.