JPMorgan Chase & Co. Forecasts Strong Price Appreciation for BP (LON:BP) Stock

BP (LON:BP) had its target price lifted by research analysts at JPMorgan Chase & Co. from GBX 425 ($5.20) to GBX 440 ($5.39) in a report issued on Tuesday, Marketbeat.com reports. The brokerage presently has an “underweight” rating on the oil and gas exploration company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 4.02% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 540 ($6.61) target price on shares of BP in a research report on Monday, December 16th. Berenberg Bank lowered their price objective on shares of BP from GBX 470 ($5.75) to GBX 440 ($5.39) and set a “hold” rating for the company in a research note on Friday, November 29th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 595 ($7.28).

BP Trading Up 0.7 %

Shares of LON BP opened at GBX 423 ($5.18) on Tuesday. The company has a debt-to-equity ratio of 79.91, a quick ratio of 0.62 and a current ratio of 1.24. The business’s 50 day moving average price is GBX 389.55 and its 200-day moving average price is GBX 413.08. BP has a fifty-two week low of GBX 379.70 ($4.65) and a fifty-two week high of GBX 562.30 ($6.88). The company has a market cap of £67.05 billion, a price-to-earnings ratio of 1,281.82, a PEG ratio of 0.35 and a beta of 0.49.

Insider Activity at BP

In other news, insider Murray Auchincloss purchased 100 shares of the company’s stock in a transaction on Monday, November 11th. The shares were acquired at an average price of GBX 373 ($4.57) per share, for a total transaction of £373 ($456.55). Insiders have acquired 283 shares of company stock valued at $111,954 in the last ninety days. Corporate 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.