BP’s (BP) Top Pick Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their top pick rating on shares of BP (LON:BP) in a report issued on Monday, Marketbeat reports. Royal Bank of Canada currently has a GBX 700 ($9.15) price objective on the oil and gas exploration company’s stock.

BP has been the subject of a number of other research reports. Deutsche Bank reiterated a buy rating and set a GBX 620 ($8.10) price target on shares of BP in a report on Wednesday, September 19th. Berenberg Bank assumed coverage on BP in a report on Tuesday, September 11th. They set a buy rating and a GBX 665 ($8.69) price target for the company. JPMorgan Chase & Co. lifted their price target on BP from GBX 625 ($8.17) to GBX 650 ($8.49) and gave the stock an overweight rating in a report on Wednesday, October 17th. Goldman Sachs Group set a GBX 730 ($9.54) price target on BP and gave the stock a buy rating in a report on Monday, October 1st. Finally, HSBC set a GBX 675 ($8.82) price target on BP and gave the stock a buy rating in a report on Monday, July 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of GBX 632.73 ($8.27).

BP stock opened at GBX 554.60 ($7.25) on Monday. BP has a 52 week low of GBX 436.95 ($5.71) and a 52 week high of GBX 536.20 ($7.01).

The company also recently disclosed a dividend, which will be paid on Friday, December 21st. Stockholders of record on Thursday, November 8th will be issued a dividend of $0.10 per share. This represents a dividend yield of 1.44%. The ex-dividend date of this dividend is Thursday, November 8th.

In other news, insider Brian Gilvary acquired 53 shares of BP stock in a transaction dated Wednesday, October 10th. The stock was bought at an average price of GBX 579 ($7.57) per share, for a total transaction of £306.87 ($400.98). In the last 90 days, insiders have bought 169 shares of company stock valued at $94,545.

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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