Royal Bank Of Canada Reiterates "Outperform" Rating for BP (LON:BP)

Key Points

• Royal Bank of Canada reaffirmed its “Outperform” rating on BP and maintained a GBX 700 price target, implying 33.33% potential upside from the prior close.
• Analyst sentiment is broadly positive: nine analysts rate BP a Buy and two rate it Hold, producing a consensus “Moderate Buy” rating and an average target price of GBX 605.
• BP opened at GBX 525, with a market capitalization of approximately £102.18 billion; its shares have traded between GBX 379.70 and GBX 562.30 over the past year.

BP (LON:BP - Get Free Report)'s stock had its "outperform" rating reaffirmed by Royal Bank Of Canada in a report released on Wednesday,Digital Look reports. They presently have a GBX 700 target price on the oil and gas exploration company's stock. Royal Bank Of Canada's target price points to a potential upside of 33.33% from the stock's previous close.

Several other equities research analysts have also recently commented on the company. DZ Bank reaffirmed a "buy" rating on shares of BP in a research note on Tuesday, April 28th. Barclays reissued a "buy" rating on shares of BP in a research note on Tuesday, May 26th. Berenberg Bank increased their price target on BP from GBX 590 to GBX 600 and gave the stock a "buy" rating in a report on Wednesday, July 15th. The Goldman Sachs Group restated a "buy" rating on shares of BP in a report on Wednesday, July 1st. Finally, BNP Paribas Exane raised shares of BP from a "neutral" rating to an "outperform" rating in a research report on Friday, April 17th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, BP has an average rating of "Moderate Buy" and an average target price of GBX 605.

BP Stock Performance

BP stock opened at GBX 525 on Wednesday. The firm has a market cap of £102.18 billion, a PE ratio of 39.22, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06. 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 stock has a 50-day moving average price of GBX 513.40 and a 200-day moving average price of GBX 518.58. BP has a 1-year low of GBX 379.70 and a 1-year high of GBX 562.30.

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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