BP (LON:BP) Price Target Raised to GBX 470 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its price target for BP from GBX 450 to GBX 470, indicating a potential upside of 12.59% from the company's previous close.
• Jefferies Financial Group maintained a "hold" rating on BP with a price target of GBX 390, contributing to a consensus rating of "Hold" for the stock.
• Insider purchasing activity has been noted, with company insider Murray Auchincloss acquiring 97 shares at an average price of GBX 385 per share.

BP (LON:BP - Get Free Report) had its price objective raised by analysts at Royal Bank Of Canada from GBX 450 ($6.05) to GBX 470 ($6.32) in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has a "sector perform" rating on the oil and gas exploration company's stock. Royal Bank Of Canada's price objective points to a potential upside of 10.39% from the company's current price.

Separately, Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 390 ($5.25) target price on shares of BP in a research note on Tuesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of GBX 460 ($6.19).

BP Trading Down 1.1%

LON BP traded down GBX 4.60 ($0.06) during trading hours on Wednesday, hitting GBX 425.75 ($5.73). 22,462,038 shares of the company were exchanged, compared to its average volume of 8,560,774. The stock has a 50-day moving average price of GBX 385.28 and a 200 day moving average price of GBX 395.67. The company has a quick ratio of 0.62, a current ratio of 1.22 and a debt-to-equity ratio of 105.65. BP has a 52 week low of GBX 379.70 ($5.11) and a 52 week high of GBX 562.30 ($7.56). The stock has a market cap of £82.86 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49.

Insider Transactions at BP

In related news, insider Murray Auchincloss sold 336,621 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of GBX 359 ($4.83), for a total value of £1,208,469.39 ($1,625,379.14). In the last quarter, insiders have purchased 214 shares of company stock worth $80,903. Corporate insiders own 0.26% of the company's stock.

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.