Royal Bank Of Canada Upgrades BP (LON:BP) to Outperform

Key Points

• Royal Bank of Canada upgraded BP to “outperform” and set a GBX 700 price target, implying about 30.69% upside from the current share price.
• BP’s analyst coverage remains broadly positive overall: nine analysts rate it Buy and two rate it Hold, giving it a Moderate Buy consensus with a GBX 635 average target.
• BP shares opened at GBX 535.60, near the upper end of their 52-week range, while the company continues to operate across oil, gas, low-carbon energy, retail fuel, EV charging, and other energy businesses.

BP (LON:BP - Get Free Report) was upgraded by research analysts at Royal Bank Of Canada to an "outperform" rating in a research report issued on Monday,London Stock Exchange reports. The brokerage presently has a GBX 700 target price on the oil and gas exploration company's stock. Royal Bank Of Canada's price target would indicate a potential upside of 30.69% from the company's current price.

A number of other equities analysts also recently commented on BP. JPMorgan Chase & Co. restated a "neutral" rating on shares of BP in a report on Tuesday, April 28th. Jefferies Financial Group restated a "neutral" rating on shares of BP in a report on Tuesday, April 28th. DZ Bank restated a "buy" rating on shares of BP in a report on Tuesday, April 28th. Barclays restated a "buy" rating on shares of BP in a report on Friday, April 24th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of BP in a report on Wednesday, April 29th. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, BP has a consensus rating of "Moderate Buy" and a consensus price target of GBX 635.

BP Price Performance

Shares of BP stock opened at GBX 535.60 on Monday. The company has a quick ratio of 0.62, a current ratio of 1.22 and a debt-to-equity ratio of 132.55. The company has a market cap of £104.24 billion, a PE ratio of 40.01, a P/E/G ratio of 0.35 and a beta of 0.06. The business has a 50 day moving average of GBX 550.38 and a 200 day moving average of GBX 483.29. BP has a 52 week low of GBX 379.70 and a 52 week high of GBX 562.30.

Insider Activity at BP

In other BP news, insider Carol Howle acquired 62 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average cost of GBX 510 per share, with a total value of £316.20. Insiders acquired 142 shares of company stock worth $70,530 over the last 90 days. Company insiders own 0.26% of the company's stock.

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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