BP (LON:BP) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Key Points

• Jefferies Financial Group has raised BP's price target from GBX 400 to GBX 420, indicating a potential upside of 1.68% from its previous close.
• Various analysts have also provided mixed ratings, with Royal Bank Of Canada targeting GBX 470 and JPMorgan Chase increasing their target to GBX 440.
• Insider Amanda Blanc purchased 23,600 shares at an average cost of GBX 426, reflecting confidence in the company's stock amidst recent fluctuations.

BP (LON:BP - Get Free Report) had its price objective lifted by stock analysts at Jefferies Financial Group from GBX 400 to GBX 420 in a report issued on Friday,Digital Look reports. The firm currently has a "hold" rating on the oil and gas exploration company's stock. Jefferies Financial Group's price objective points to a potential upside of 1.68% from the company's previous close.

A number of other equities research analysts have also recently weighed in on BP. Royal Bank Of Canada reissued a "sector perform" rating and issued a GBX 470 price target on shares of BP in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of BP from GBX 420 to GBX 440 and gave the company a "neutral" rating in a research report on Wednesday, August 6th. Finally, Berenberg Bank raised shares of BP from a "hold" rating to a "buy" rating and boosted their price target for the company from GBX 385 to GBX 500 in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of GBX 457.50.

BP Price Performance

Shares of BP opened at GBX 413.05 on Friday. BP has a 1-year low of GBX 379.70 and a 1-year high of GBX 562.30. The stock has a market cap of £80.39 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. The company has a debt-to-equity ratio of 105.65, a current ratio of 1.22 and a quick ratio of 0.62. The firm has a fifty day moving average price of GBX 425.19 and a 200 day moving average price of GBX 392.34.

Insider Activity at BP

In other BP news, insider Amanda Blanc bought 23,600 shares of BP stock in a transaction dated Friday, September 19th. The stock was acquired at an average cost of GBX 426 per share, with a total value of £100,536. Insiders have bought 23,617 shares of company stock valued at $10,060,861 over the last three months. 0.26% of the stock is currently owned by corporate 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.

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