BP p.l.c. (LON:BP) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on BP, with nine buy ratings and two holds; the average 12-month price target is GBX 605.
• BP is reshaping its portfolio by seeking buyers for North Sea assets, considering a sale of its Iraqi stake, and cutting roughly 700 jobs, while the North Sea divestment could put about 1,100 additional jobs at risk.
• Shares opened at GBX 552.50, up 1.8%, near the 52-week high of GBX 562.30. BP is also expanding in the U.S. Gulf of Mexico, but its offshore-wind exit adds uncertainty to its energy-transition strategy.

Shares of BP p.l.c. (LON:BP - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is GBX 605.

Several brokerages have recently weighed in on BP. The Goldman Sachs Group reiterated a "buy" rating on shares of BP in a research note on Wednesday, July 1st. Barclays restated a "buy" rating on shares of BP in a research report on Tuesday, May 26th. Berenberg Bank upped their target price on shares of BP from GBX 590 to GBX 600 and gave the company a "buy" rating in a report on Wednesday, July 15th. Jefferies Financial Group reiterated a "neutral" rating and issued a $6.50 price target on shares of BP in a research report on Thursday, May 21st. Finally, DZ Bank reiterated a "buy" rating on shares of BP in a research note on Tuesday, April 28th.

Key BP News

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP is reportedly seeking buyers for its North Sea drilling business and other assets after roughly 60 years of production. The sale could generate cash, reduce capital requirements and sharpen BP’s focus on higher-return operations. BP Puts Its North Sea Drilling Business Up for Sale
• Positive Sentiment: The company is cutting about 700 office and upstream roles as part of a simpler organizational structure. Although the reductions may indicate weak oil-market conditions, they could lower overhead and support BP’s cost-reduction goals. BP to cut 700 jobs as it simplifies company
• Positive Sentiment: BP has started a U.S. Gulf of Mexico expansion project, providing a potentially higher-growth source of production and reinforcing its focus on conventional energy assets. BP fires up US Gulf expansion project
• Neutral Sentiment: BP is considering selling a 15% stake in an Iraqi oil unit. The transaction could provide liquidity and simplify the portfolio, but it would also reduce BP’s exposure to potentially valuable production. BP to Sell 15% Stake in Iraqi Unit
• Negative Sentiment: The North Sea sale could put approximately 1,100 jobs at risk and highlights the pressure from high operating costs, UK taxes and the company’s strategic shift away from mature production. BP Puts North Sea Assets Up For Sale
• Negative Sentiment: BP’s exit from offshore wind adds uncertainty around its transition strategy and could create additional strain for Japan’s offshore-wind sector as development costs rise. BP exit to add strain on Japan offshore wind

BP Trading Up 1.8%

BP stock opened at GBX 552.50 on Monday. The business has a 50-day simple moving average of GBX 513.35 and a two-hundred day simple moving average of GBX 516.88. The company has a market cap of £107.53 billion, a P/E ratio of 41.27, a P/E/G ratio of 0.35 and a beta of 0.06. BP has a 52-week low of GBX 379.70 and a 52-week high of GBX 562.30. The company has a quick ratio of 0.62, a current ratio of 1.22 and a debt-to-equity ratio of 132.55.

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. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.

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