Royal Bank Of Canada Reiterates Sector perform Rating for BP (LON:BP)

Key Points

• Royal Bank of Canada reaffirmed a "sector perform" rating for BP, setting a target price of GBX 470, suggesting a potential upside of 12.89%.
• Other analysts have varied opinions, with JPMorgan raising their target to GBX 440 and Berenberg elevating BP from "hold" to "buy" with a price target of GBX 500.
• Insider Amanda Blanc purchased 23,600 shares at an average price of GBX 426, contributing to a total of 23,617 shares bought by insiders over the last ninety days.

BP (LON:BP - Get Free Report)'s stock had its "sector perform" rating reiterated by equities research analysts at Royal Bank Of Canada in a report released on Wednesday,Digital Look reports. They currently have a GBX 470 price objective on the oil and gas exploration company's stock. Royal Bank Of Canada's target price suggests a potential upside of 12.89% from the stock's previous close.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their price objective on BP from GBX 420 to GBX 440 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Jefferies Financial Group reissued a "hold" rating and set a GBX 390 price target on shares of BP in a research report on Tuesday, August 5th. Finally, Berenberg Bank raised BP from a "hold" rating to a "buy" rating and lifted their target price for the company from GBX 385 to GBX 500 in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, BP presently has an average rating of "Hold" and an average price target of GBX 450.

BP Price Performance

Shares of BP traded down GBX 5.65 during mid-day trading on Wednesday, hitting GBX 416.35. The company's stock had a trading volume of 37,489,559 shares, compared to its average volume of 8,560,774. 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 50-day moving average price of GBX 425.50 and a 200 day moving average price of GBX 392.31. BP has a fifty-two week low of GBX 379.70 and a fifty-two week high of GBX 562.30. The stock has a market capitalization of £81.03 billion, a price-to-earnings ratio of 31.10, a PEG ratio of 0.35 and a beta of 0.49.

Insider Buying and Selling at BP

In other news, insider Amanda Blanc bought 23,600 shares of the company's stock in a transaction that occurred on Friday, September 19th. The shares were purchased at an average price of GBX 426 per share, for a total transaction of £100,536. Insiders bought a total of 23,617 shares of company stock valued at $10,060,861 over the last ninety days. 0.26% of the stock is owned by insiders.

About BP

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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