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

BP p.l.c. (LON:BP) shares 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 traded.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a GBX 540 ($6.98) target price on shares of BP in a research report on Monday, December 16th. JPMorgan Chase & Co. raised BP to a “neutral” rating and boosted their target price for the stock from GBX 440 ($5.69) to GBX 510 ($6.59) in a research report on Thursday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a GBX 480 ($6.20) target price on shares of BP in a research report on Thursday, February 20th. Finally, Berenberg Bank decreased their target price 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, BP presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 578.33 ($7.47).

BP Trading Up 1.1 %

The stock has a 50 day simple moving average of GBX 428.50 and a 200-day simple moving average of GBX 408.34. 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 company has a current ratio of 1.22, a quick ratio of 0.62 and a debt-to-equity ratio of 105.65.

Insider Activity at BP

In related news, insider Murray Auchincloss acquired 88 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was bought at an average cost of GBX 423 ($5.47) per share, for a total transaction of £372.24 ($480.99). In the last ninety days, insiders purchased 270 shares of company stock worth $112,325. 0.26% of the stock is owned by company insiders.

About BP

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.