Today, HSBC Trims BP plc (BP) Target Price to GBX 540

Today, HSBC Trims BP plc (BP) Target Price to GBX 540

BP plc (LON:BP) had its price target cut by stock analysts at HSBC from GBX 570 ($7.12) to GBX 540 ($6.75) in a research note issued on Tuesday. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. HSBC’s price objective points to a potential upside of 18.69% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Canaccord Genuity restated a “buy” rating and set a GBX 520 ($6.50) price objective on shares of BP plc in a research report on Wednesday, July 27th. Beaufort Securities restated a “buy” rating on shares of BP plc in a research report on Wednesday, July 27th. Jefferies Group boosted their price objective on BP plc from GBX 340 ($4.25) to GBX 400 ($5.00) and gave the stock a “hold” rating in a research report on Monday, July 11th. Goldman Sachs Group Inc. set a GBX 405 ($5.06) price objective on BP plc and gave the stock a “neutral” rating in a research report on Monday, July 18th. Finally, Societe Generale lowered BP plc to a “hold” rating and set a GBX 500 ($6.25) price objective on the stock. in a research report on Wednesday, November 2nd. Sixteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 468.12 ($5.85).

BP plc (LON:BP) traded down 0.85% during midday trading on Tuesday, hitting GBX 454.95. The stock had a trading volume of 13,993,954 shares. BP plc has a 52 week low of GBX 249.43 and a 52 week high of GBX 498.45. The stock’s market capitalization is GBX 86.04 billion. The company’s 50 day moving average price is GBX 468.95 and its 200-day moving average price is GBX 427.19.

In related news, insider Brian Gilvary purchased 68 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was purchased at an average cost of GBX 458 ($5.72) per share, with a total value of £311.44 ($389.11).

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