Goldman Sachs Group Reiterates “Conviction-Buy” Rating for BP (LON:BP)

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Goldman Sachs Group reiterated their conviction-buy rating on shares of BP (LON:BP) in a report issued on Tuesday morning, ThisIsMoney.Co.Uk reports.

BP has been the subject of several other research reports. HSBC set a GBX 645 ($8.43) price target on shares of BP and gave the company a buy rating in a research note on Wednesday, August 7th. Morgan Stanley reaffirmed an overweight rating and set a GBX 620 ($8.10) price target on shares of BP in a research note on Tuesday, July 30th. Barclays set a GBX 700 ($9.15) price target on shares of BP and gave the company a buy rating in a research note on Tuesday, April 30th. Societe Generale decreased their price target on shares of BP from GBX 650 ($8.49) to GBX 635 ($8.30) and set a buy rating for the company in a research note on Thursday, May 2nd. Finally, UBS Group reissued a buy rating and issued a GBX 600 ($7.84) price objective on shares of BP in a research note on Monday, July 29th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of GBX 652.94 ($8.53).

BP stock opened at GBX 489.70 ($6.40) on Tuesday. The company has a 50 day moving average price of GBX 529.43 and a 200-day moving average price of GBX 543.41. The company has a debt-to-equity ratio of 87.42, a quick ratio of 0.69 and a current ratio of 1.07. BP has a fifty-two week low of GBX 5.08 ($0.07) and a fifty-two week high of GBX 603.20 ($7.88). The company has a market capitalization of $99.83 billion and a PE ratio of 11.18.

The company also recently declared a dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, August 8th will be issued a $0.10 dividend. This represents a yield of 1.59%. The ex-dividend date of this dividend is Thursday, August 8th. BP’s dividend payout ratio is currently 0.78%.

In other news, insider Brian Gilvary purchased 63 shares of the business’s stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of GBX 503 ($6.57) per share, with a total value of £316.89 ($414.07). Insiders acquired 179 shares of company stock worth $95,373 over the last ninety days.

BP Company Profile

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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