BP stock gains after JPMorgan raises target to 675 pence

Published on 09/23/2026 at 12:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BP stock traded at 530.04 pence on September 22, 2026, after a 2.37 percent fall. Second-quarter EPS reached USD 2.22 versus USD 1.51 expected.

Aquarellmalerei der Londoner Skyline mit St. Paul's Cathedral in zarten Pastell-Abenddüften — BP plc GB0007980591 mit Londoner Heimatstadt – St. Paul's Cathedral in weichen Pastellfarben gemalt, Illustration mit AI erstellt.

BP plc (GB0007980591) closed at 530.04 pence on the London Stock Exchange on September 22, 2026, down 2.37 percent, while JPMorgan raised its price target to 675 pence from 550 pence on September 23, 2026. The upgrade gives the stock a clear valuation reference as the bank moved its rating from Neutral to Overweight.

JPMorgan lifts target by 125 pence

According to Investing.com on September 23, 2026, JPMorgan raised its BP target from 550 pence to 675 pence and upgraded the rating from Neutral to Overweight. The 125-pence increase is the central company-specific catalyst, while the report also described the change as part of a broader reassessment of European oil majors amid commodity-price volatility.

A separate MarketWatch report published on September 23, 2026, also stated that JPMorgan lifted BP to Overweight from Neutral and increased the target to 675 pence from 550 pence. The new target is 144.96 pence, or 27.4 percent, above the September 22 closing price of 530.04 pence.

Second-quarter numbers beat estimates

BP's second-quarter 2026 results provide the operating basis for the revised view. According to Investing.com on September 23, 2026, adjusted earnings per share reached USD 2.22 in the second quarter of 2026, compared with an estimate of USD 1.51. The USD 0.71 beat equals 47.0 percent above the cited forecast.

The same September 23, 2026 report put second-quarter 2026 revenue at USD 69.11 billion, above the USD 61.79 billion estimate. That USD 7.32 billion difference represents an 11.8 percent premium to the forecast and gives the target increase a quantified earnings backdrop rather than a purely technical rationale.

BP stock remains tied to oil prices

BP closed at 530.04 pence on September 22, 2026, after a 2.37 percent decline as oil prices eased, according to the dated market report. The broader FTSE 100 lost 0.29 percent in the same session, placing BP's move 2.08 percentage points below the index performance.

Market data published on September 23, 2026, showed a 52-week range of 379.70 pence to 562.30 pence and a market capitalization of GBP 105.55 billion. The closing price stood 32.5 percent above the 52-week low and 5.7 percent below the 52-week high, leaving the stock closer to its yearly peak than to its low.

Stock closes at 530.04 pence

BP stock closed at 530.04 pence on the London Stock Exchange on September 22, 2026, with a daily decline of 2.37 percent. The latest quoted market capitalization was GBP 105.55 billion as of September 23, 2026.