JPMorgan Adjusts Ratings for BP, TotalEnergies in Oil Sector

By EC Assets · Published 23 September 2026

JPMorgan Chase has adjusted its ratings for major oil companies, upgrading BP and downgrading TotalEnergies. This move follows a broader reshuffle in the oil sector. Morgan Stanley also downgraded TotalEnergies, changing its rating to Equalweight from Overweight. TotalEnergies SE has an average rating of overweight and a mean price target of $74.46, polled by FactSet. The French oil major TotalEnergies expects higher second-quarter profits. This expectation is due to increased energy prices resulting from the Iran war. BP's CEO has outlined a new investment approach focused on selective capital allocation across projects. The company is reorganizing into separate upstream and downstream divisions. This reorganization aims to increase operational accountability and clarity. BP adjusted fuel deliveries and production in response to the recent Iran conflict. BP also reduced its Browse Project stake to 34.33 percent. This action shares future investment needs and risk with Osaka Gas while maintaining exposure to the development. BP reached $43.16 at the closing of the latest trading day, reflecting a 3.19 percent change compared to its last close. The Zacks Oil and Gas Integrated International industry outlook is bright due to solid oil prices, stable integrated business models, and robust midstream operations. Companies like Exxon Mobil, Chevron, and BP are positioned to benefit from this favorable business scenario. Some of the world’s largest oil and gas companies have seen their production continue to soar despite deep spending cuts. This trend follows the historic oil price crash of 2020. The oil and gas sector remains dynamic, with companies adapting their strategies amid geopolitical events and shifting market conditions. Upcoming reports or corporate announcements from these companies will provide further insight into their performance and strategic adjustments. This article is intended for informational purposes only. It does not constitute investment advice.