BP (BP) Upgraded to “top pick” at Citigroup

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Citigroup upgraded shares of BP (LON:BP) to a top pick rating in a report issued on Thursday morning. Citigroup currently has GBX 650 ($8.29) target price on the oil and gas exploration company’s stock.

A number of other equities research analysts also recently commented on BP. Barclays restated a top pick rating and issued a GBX 675 ($8.61) price objective on shares of BP in a research report on Wednesday, May 2nd. Jefferies Financial Group raised their price objective on shares of BP from GBX 520 ($6.63) to GBX 610 ($7.78) and gave the company a hold rating in a research report on Monday, June 11th. JPMorgan Chase & Co. set a GBX 650 ($8.29) price objective on shares of BP and gave the company a buy rating in a research report on Tuesday, August 7th. Kepler Capital Markets restated a buy rating on shares of BP in a research report on Wednesday, July 4th. Finally, Morgan Stanley raised their price objective on shares of BP from GBX 550 ($7.02) to GBX 585 ($7.46) and gave the company an equal weight rating in a research report on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of GBX 610.95 ($7.79).

LON BP opened at GBX 548.60 ($7.00) on Thursday. BP has a 52-week low of GBX 436.95 ($5.57) and a 52-week high of GBX 536.20 ($6.84).

The business also recently declared a dividend, which will be paid on Friday, September 21st. Stockholders of record on Thursday, August 9th will be given a dividend of $0.10 per share. This represents a dividend yield of 1.38%. This is an increase from BP’s previous dividend of $0.10. The ex-dividend date of this dividend is Thursday, August 9th.

In related news, insider Brian Gilvary purchased 53 shares of BP stock in a transaction dated Tuesday, July 10th. The stock was bought at an average cost of GBX 585 ($7.46) per share, for a total transaction of £310.05 ($395.52). Over the last quarter, insiders have bought 164 shares of company stock valued at $94,669.

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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