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

Key Points

• JPMorgan Chase & Co. has raised the price target for BP to GBX 440, signaling a potential upside of 5.40% from the previous close.
• Analysts from Jefferies Financial Group and Royal Bank Of Canada have also provided ratings, with price targets of GBX 390 and GBX 470, respectively, maintaining a mixed outlook on BP's stock.
• BP’s stock currently exhibits moderate volatility with a market cap of £81.25 billion and a reported debt-to-equity ratio of 105.65.

BP (LON:BP - Free Report) had its target price increased by JPMorgan Chase & Co. from GBX 420 ($5.65) to GBX 440 ($5.92) in a report released on Wednesday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has a neutral rating on the oil and gas exploration company's stock.

Several other research firms also recently weighed in on BP. Royal Bank Of Canada raised their target price on shares of BP from GBX 450 ($6.05) to GBX 470 ($6.32) and gave the company a "sector perform" rating in a report on Wednesday. Jefferies Financial Group restated a "hold" rating and set a GBX 390 ($5.25) target price on shares of BP in a report on Tuesday, August 5th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of GBX 460 ($6.19).

BP Price Performance

Shares of LON BP traded down GBX 2.55 ($0.03) during midday trading on Wednesday, hitting GBX 423.20 ($5.69). The company had a trading volume of 18,469,573 shares, compared to its average volume of 8,560,774. 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 twelve month low of GBX 379.70 ($5.11) and a twelve month high of GBX 562.30 ($7.56). The business has a 50-day simple moving average of GBX 386.63 and a two-hundred day simple moving average of GBX 395.43. The firm has a market capitalization of £82.37 billion, a price-to-earnings ratio of 31.61, 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 bought 97 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was purchased at an average cost of GBX 385 ($5.18) per share, for a total transaction of £373.45 ($502.29). Insiders have purchased 214 shares of company stock valued at $80,903 in the last ninety days. 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.