BP plc (LON:BP) had its target price cut by investment analysts at Canaccord Genuity from GBX 550 ($6.87) to GBX 530 ($6.62) in a note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the oil and gas exploration company’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 16.20% from the company’s current price.
A number of other analysts have also commented on the company. Barclays PLC reiterated an “overweight” rating and issued a GBX 600 ($7.50) price objective on shares of BP plc in a research report on Monday, October 10th. Jefferies Group reiterated a “hold” rating and issued a GBX 400 ($5.00) price objective on shares of BP plc in a research report on Tuesday, August 2nd. 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 Friday, July 8th. Societe Generale lowered BP plc to a “hold” rating and set a GBX 500 ($6.25) price objective for the company. in a research report on Wednesday, November 2nd. Finally, Morgan Stanley reiterated an “overweight” rating on shares of BP plc in a research report on Monday, July 11th. Sixteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of GBX 468.12 ($5.85).
Shares of BP plc (LON:BP) traded down 0.850% during trading on Wednesday, hitting GBX 456.102. The stock had a trading volume of 13,993,954 shares. BP plc has a 1-year low of GBX 249.44 and a 1-year high of GBX 498.45. The firm has a 50 day moving average of GBX 468.95 and a 200 day moving average of GBX 427.19. The company’s market capitalization is GBX 86.26 billion.
In other news, insider Brian Gilvary purchased 68 shares of BP plc stock in a transaction that occurred on Thursday, November 10th. The stock was acquired at an average cost of GBX 458 ($5.72) per share, for a total transaction of £311.44 ($389.11).