BP’s (BP) Buy Rating Reiterated at HSBC

HSBC reissued their buy rating on shares of BP (LON:BP) in a research report report published on Monday, Digital Look reports. They currently have a GBX 650 ($8.49) price target on the oil and gas exploration company’s stock.

A number of other brokerages also recently weighed in on BP. Societe Generale decreased their price objective 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 report on Thursday, May 2nd. Credit Suisse Group reiterated an outperform rating and issued a GBX 640 ($8.36) price objective on shares of BP in a research report on Wednesday, May 1st. Royal Bank of Canada set a GBX 615 ($8.04) price objective on shares of BP and gave the stock a buy rating in a research report on Wednesday, May 1st. Jefferies Financial Group reiterated a hold rating and issued a GBX 600 ($7.84) price objective on shares of BP in a research report on Wednesday, May 1st. Finally, Deutsche Bank reiterated a buy rating on shares of BP in a research report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and an average target price of GBX 650.88 ($8.50).

LON BP opened at GBX 543.50 ($7.10) on Monday. The firm has a market cap of $110.03 billion and a P/E ratio of 11.14. BP has a 1 year low of GBX 481.35 ($6.29) and a 1 year high of GBX 603.20 ($7.88). The company has a debt-to-equity ratio of 73.82, a current ratio of 1.02 and a quick ratio of 0.66.



The business also recently declared a dividend, which will be paid on Friday, June 21st. Investors of record on Thursday, May 9th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, May 9th. This represents a dividend yield of 1.43%. BP’s dividend payout ratio (DPR) is presently 0.64%.

In related news, insider Brian Gilvary purchased 58 shares of BP stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average price of GBX 526 ($6.87) per share, for a total transaction of £305.08 ($398.64).

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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