Royal Bank of Canada Reiterates GBX 550 Price Target for BP (LON:BP)

Royal Bank of Canada set a GBX 550 ($7.23) target price on BP (LON:BP) in a research report sent to investors on Wednesday morning, Borsen Zeitung reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

Several other equities research analysts also recently issued reports on BP. Citigroup reaffirmed a buy rating on shares of BP in a research report on Wednesday, February 5th. Kepler Capital Markets lowered their price target on BP from GBX 650 ($8.55) to GBX 610 ($8.02) and set a buy rating on the stock in a research report on Friday, January 24th. Goldman Sachs Group set a GBX 750 ($9.87) price target on BP and gave the company a buy rating in a research report on Tuesday, February 4th. Main First Bank assumed coverage on BP in a research report on Wednesday, December 4th. They issued an outperform rating and a GBX 620 ($8.16) price target on the stock. Finally, JPMorgan Chase & Co. set a GBX 600 ($7.89) price target on BP and gave the company a buy rating in a research report on Tuesday, February 4th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of GBX 601.47 ($7.91).

BP stock opened at GBX 456.85 ($6.01) on Wednesday. The company has a debt-to-equity ratio of 76.90, a current ratio of 1.12 and a quick ratio of 0.66. The company has a market capitalization of $93.73 billion and a price-to-earnings ratio of 23.19. BP has a one year low of GBX 4.69 ($0.06) and a one year high of GBX 583.40 ($7.67). The company’s fifty day moving average price is GBX 482.31 and its two-hundred day moving average price is GBX 495.57.

The company also recently announced a dividend, which will be paid on Friday, March 27th. Investors of record on Thursday, February 13th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, February 13th. This is an increase from BP’s previous dividend of $0.10. This represents a yield of 1.78%. BP’s dividend payout ratio (DPR) is 1.62%.

In other news, insider Brian Gilvary bought 65 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were acquired at an average cost of GBX 492 ($6.47) per share, with a total value of £319.80 ($420.68).

About BP

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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Analyst Recommendations for BP (LON:BP)

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