BP (LON:BP) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

BP p.l.c. (LON:BP) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 408.79 ($5.28) and traded as low as GBX 405.65 ($5.24). BP shares last traded at GBX 408.20 ($5.27), with a volume of 43,842,624 shares changing hands.

Analysts Set New Price Targets

BP has been the subject of a number of research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a GBX 480 ($6.20) target price on shares of BP in a research report on Thursday, February 20th. Jefferies Financial Group reiterated a “buy” rating and set a GBX 540 ($6.98) target price on shares of BP in a research report on Monday, December 16th. JPMorgan Chase & Co. upgraded BP to a “neutral” rating and increased their target price for the company from GBX 440 ($5.69) to GBX 510 ($6.59) in a research report on Thursday, February 20th. Finally, Berenberg Bank lowered their price target on BP from GBX 470 ($6.07) to GBX 440 ($5.69) and set a “hold” rating for the company in a research report on Friday, November 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 578.33 ($7.47).

BP Stock Performance

The firm has a market capitalization of £80.47 billion, a P/E ratio of 30.88, a P/E/G ratio of 0.35 and a beta of 0.49. The firm has a 50-day moving average price of GBX 428.50 and a two-hundred day moving average price of GBX 408.34. The company has a debt-to-equity ratio of 105.65, a current ratio of 1.22 and a quick ratio of 0.62.

Insider Transactions at BP

In other news, insider Murray Auchincloss purchased 87 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average price of GBX 433 ($5.60) per share, for a total transaction of £376.71 ($486.77). Over the last ninety days, insiders acquired 270 shares of company stock worth $112,325. 0.26% of the stock is currently owned by insiders.

BP Company Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.