BP share price: set to rise as oil prices climb

BP share price is predicted to be on a continuous upwards path as oil prices begin to steadily increase.

BP share price: set to rise as oil prices climb

Share price gain

BP (LON:BP) share prices have gained 23 per cent since March 2018 and the increase is set to continue at a greater pace following the continued success of Rumala oil fields development. Currently trading at 554.90 (+625p (1.14%) mid-morning trading, the company has set a 12-month price target of 730p a share, which will make it one of the strongest oil companies on the FTSE 100.

Proactive Investors reported: “BP is on the cusp of delivering one of the industry’s strongest pipelines of new oil and gas projects ... with sector-leading production growth, free cash flow improvement and unproductive capital release from mega-projects,” Goldman Sachs stated in a note to clients.

Price to Earnings Growth

The advice from many analysts for BP (LON:BP) is to buy and hold as increasing prospects and cashflow inspire confidence in investors. Shares in BP, which have risen by more than a pound in the last year, were +1.15% up trading at 554.85 GBX +6.25 (1.14%) at time of writing 10:03 BST Monday August 20th.

Buy and Hold

The advice from many analysts for BP (LON:BP) is to buy and hold as increasing prospects and cashflow inspire confidence in investors. Shares in BP, which have risen by more than a pound in the last year, were +1.15% up trading at 554.85 GBX +6.25 (1.14%) at time of writing 10:03 BST Monday August. 

As of 11:17 BST, Monday, 20 August, BP plc share price is 427.88p.

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