BP (BP) Stock Forecast & Price Target

$31.42

+0.63 (+2.05%)

(As of 09/27/2024 ET)

BP - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 19 Analyst Ratings

Sell
1

Hold
9

Buy
9

Based on 19 Wall Street analysts who have issued ratings for BP in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 19 analysts, 1 has given a sell rating, 9 have given a hold rating, 6 have given a buy rating, and 3 have given a strong buy rating for BP.

Consensus Price Target

$43.73
39.16% Upside

According to the 19 analysts' twelve-month price targets for BP, the average price target is $43.73. The highest price target for BP is $57.00, while the lowest price target for BP is $35.00. The average price target represents a forecasted upside of 39.16% from the current price of $31.42.

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BP Analyst Ratings Over Time

Type	Current Forecast 9/30/23 to 9/29/24	1 Month Ago 8/31/23 to 8/30/24	3 Months Ago 7/2/23 to 7/1/24	1 Year Ago 9/30/22 to 9/30/23
Strong Buy	3 Strong Buy rating(s)	3 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	6 Buy rating(s)	6 Buy rating(s)	5 Buy rating(s)	7 Buy rating(s)
Hold	9 Hold rating(s)	8 Hold rating(s)	3 Hold rating(s)	3 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$43.73	$44.23	$43.88	$44.17
Forecasted Upside	39.16% Upside	30.21% Upside	20.46% Upside	14.07% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Hold	Moderate Buy

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BP Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

BP Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

BP Stock vs. The Competition

Type	BP	Oils/Energy Companies	S&P 500
Consensus Rating Score	2.58	2.60	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	39.16% Upside	207.34% Upside	6.15% Upside
News Sentiment Rating	Neutral News See Recent BP News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/27/2024	Wells Fargo & Company 3 of 5 stars		Lower Target	Equal Weight ➝ Equal Weight	$39.00 ➝ $35.00	+12.14%
9/24/2024	Redburn Atlantic 0 of 5 stars	P. Low Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Buy ➝ Neutral
8/8/2024	Hsbc Global Res 0 of 5 stars	K. Fustier Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold
8/8/2024	HSBC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold
8/7/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating	B. Borkhataria Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Outperform ➝ Sector Perform
8/1/2024	Argus Subscribe to MarketBeat All Access for the recommendation accuracy rating	W. Selesky Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Hold
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7/31/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Richardson Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
7/31/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating	L. Rainforth Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
7/30/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating	J. Stone. H Subscribe to MarketBeat All Access for the recommendation accuracy rating	Upgrade	Strong-Buy
7/18/2024	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating	D. Leggate Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Outperform	$57.00	+60.84%
7/17/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral ➝ Neutral	$43.00 ➝ $43.00	+23.28%
7/15/2024	Morgan Stanley Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Overweight ➝ Equal Weight	$49.90 ➝ $41.50	+17.93%
7/12/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Outperform ➝ Sector Outperform	$47.00 ➝ $42.00	+19.35%
6/14/2024	Erste Group Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Hold
5/8/2024	TD Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy	$43.00 ➝ $44.00	+17.80%
4/15/2024	Raymond James Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform ➝ Outperform	$42.00 ➝ $45.00	+14.77%
3/4/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Hold ➝ Buy	$38.60 ➝ $42.30	+18.69%
11/1/2023	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Neutral ➝ Underweight
10/6/2023	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy
5/3/2023	DZ Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold
5/3/2023	AlphaValue Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Sell
2/23/2023	Berenberg Bank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Hold
2/8/2023	Sanford C. Bernstein Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Outperform	$48.00 ➝ $53.00	+40.40%
12/6/2022	Deutsche Bank Aktiengesellschaft Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		GBX 527 ➝ GBX 549

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Sunday at 11:34 AM ET.

Should I Buy BP Stock? BP Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Monday, September 23, 2024. Please send any questions or comments about these BP pros and cons to contact@marketbeat.com.

BP
Bull Case

Here are some ways that investors could benefit from investing in BP p.l.c.:

BP p.l.c. stock is currently trading at $33.96, which may present a buying opportunity for investors looking to enter at a lower price point.
BP has a market capitalization of $89.60 billion, indicating it is a large and established company with potential stability.
Recent analyst reports have upgraded BP to a "strong-buy" and "sector outperform" rating, suggesting positive sentiment from experts in the field.
BP's 12-month high of $40.84 indicates potential for growth if the stock price rebounds to previous levels.
With a P/E ratio of 10.22, BP may be considered undervalued compared to industry peers, offering a potential value investment opportunity.

BP
Bear Case

Investors should be bearish about investing in BP p.l.c. for these reasons:

BP stock has been trading down recently, with a 1.5% decrease in value, indicating potential short-term volatility or negative market sentiment.
Despite recent analyst upgrades, there are still hold and sell ratings on BP, suggesting mixed opinions on the company's future performance.
BP's debt-to-equity ratio of 0.62 may raise concerns about the company's financial leverage and ability to manage debt obligations.
The company's quick ratio of 0.95 and current ratio of 1.24 may indicate potential liquidity challenges in meeting short-term financial obligations.
BP's 200-day moving average price of $36.36 is below the current trading price, signaling a possible downtrend in the stock's performance over the past months.

BP Forecast - Frequently Asked Questions

: According to the research reports of 19 Wall Street equities research analysts, the average twelve-month stock price forecast for BP is $43.73, with a high forecast of $57.00 and a low forecast of $35.00.
: 19 Wall Street analysts have issued "buy," "hold," and "sell" ratings for BP in the last year. There is currently 1 sell rating, 9 hold ratings, 6 buy ratings and 3 strong buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" BP shares.
: According to analysts, BP's stock has a predicted upside of 39.16% based on their 12-month stock forecasts.
: Over the previous 90 days, BP's stock had 5 upgrades and 4 downgrades by analysts.
: BP has been rated by research analysts at Argus, Barclays, Evercore ISI, Hsbc Global Res, HSBC, Morgan Stanley, Piper Sandler, Redburn Atlantic, Royal Bank of Canada, Scotiabank, UBS Group, Wells Fargo & Company, and Wolfe Research in the past 90 days.
: Analysts like BP less than other "oils/energy" companies. The consensus rating score for BP is 2.58 while the average consensus rating score for "oils/energy" companies is 2.60. Learn more on how BP compares to other companies.

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This page (NYSE:BP) was last updated on 9/29/2024 by MarketBeat.com Staff

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BP (BP) Stock Forecast & Price Target