BP Undervalued After Profit Rise, say Analysts

Shares in FTSE 100 oil firm BP rose today after a doubling of quarterly profits amid higher production and crude oil prices

Allen Good 30 October, 2018 | 2:55PM

BP Oil Prices

Shares in FTSE 100 oil giant BP (BP.) rose today after it reported a doubling in quarterly profit from a year ago as higher production combined with elevated global crude prices.

Morningstar analysts believe the company's shares are currently undervalued and hold a fair value estimate of 670p, above a current price of around 555p. 

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
BP PLC281.05 GBX2.14

About Author

Allen Good  Allen Good is a senior stock analyst covering the oil and gas industries.

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