Jefferies Financial Group Reiterates "Hold" Rating for BP (LON:BP)

Key Points

• Jefferies Financial Group reaffirmed its “Hold” rating on BP and maintained a GBX 520 price target, implying approximately 0.95% downside from the current share price.
• Analyst sentiment remains broadly positive: nine analysts rate BP a “Buy” and two rate it a “Hold,” resulting in a consensus rating of “Moderate Buy” and an average price target of GBX 579.
• BP shares fell GBX 27.10 to GBX 525 during Wednesday trading, with volume substantially above average; the stock remains within its 12-month range of GBX 379.70 to GBX 562.30.

BP (LON:BP - Get Free Report)'s stock had its "hold" rating restated by stock analysts at Jefferies Financial Group in a report issued on Wednesday,London Stock Exchange reports. They presently have a GBX 520 target price on the oil and gas exploration company's stock. Jefferies Financial Group's price objective points to a potential downside of 0.95% from the company's current price.

A number of other research firms also recently weighed in on BP. The Goldman Sachs Group restated a "buy" rating on shares of BP in a research report on Wednesday, July 1st. DZ Bank reiterated a "buy" rating on shares of BP in a research report on Tuesday, April 28th. JPMorgan Chase & Co. decreased their price target on shares of BP from GBX 600 to GBX 550 and set a "neutral" rating on the stock in a research note on Friday, July 3rd. UBS Group restated a "buy" rating on shares of BP in a report on Tuesday, June 16th. Finally, BNP Paribas Exane raised shares of BP from a "neutral" rating to an "outperform" rating in a research note on Friday, April 17th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of GBX 579.

BP Price Performance

Shares of BP traded down GBX 27.10 during midday trading on Wednesday, reaching GBX 525. The stock had a trading volume of 70,443,763 shares, compared to its average volume of 8,560,774. The company's 50-day moving average is GBX 513.40 and its 200 day moving average is GBX 518.58. BP has a 12-month low of GBX 379.70 and a 12-month high of GBX 562.30. The company has a current ratio of 1.22, a quick ratio of 0.62 and a debt-to-equity ratio of 132.55. The company has a market capitalization of £102.18 billion, a price-to-earnings ratio of 39.22, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06.

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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