BP (LON:BP) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

BP p.l.c. (LON:BP)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 416.82 ($5.16) and traded as low as GBX 386.80 ($4.79). BP shares last traded at GBX 393 ($4.86), with a volume of 8,660,384 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on BP. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 540 ($6.68) price target on shares of BP in a research report on Monday, December 16th. Berenberg Bank lowered their target price on shares of BP from GBX 470 ($5.82) to GBX 440 ($5.45) and set a “hold” rating on the stock in a research note on Friday, November 29th. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating on shares of BP in a research report on Tuesday, September 24th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of GBX 605 ($7.49).

BP Price Performance

The firm has a market capitalization of £63.90 billion, a price-to-earnings ratio of 1,221.67, a PEG ratio of 0.35 and a beta of 0.49. The company has a debt-to-equity ratio of 79.91, a current ratio of 1.24 and a quick ratio of 0.62. The stock’s 50 day moving average price is GBX 384.54 and its two-hundred day moving average price is GBX 416.65.

BP Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, December 20th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, November 7th. This represents a dividend yield of 1.54%. BP’s dividend payout ratio (DPR) is presently 6,969.70%.

Insiders Place Their Bets

In related news, insider Murray Auchincloss acquired 95 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was purchased at an average cost of GBX 394 ($4.88) per share, for a total transaction of £374.30 ($463.30). Insiders have purchased 200 shares of company stock worth $76,760 in the last ninety days. Insiders own 0.26% of the company’s stock.

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.