BP (LON:BP) Share Price Crosses Below 50-Day Moving Average - Here's Why

Key Points

• BP's share price crossed below its 50‑day moving average, trading as low as GBX 432 and last at GBX 437.90 versus a 50‑day MA of GBX 446, on volume of about 41.7 million shares.
• Analysts are mixed: two "Buy" and three "Hold" ratings leave a consensus rating of "Hold" with a consensus price target of GBX 490 and individual targets ranging from GBX 420 to GBX 525.
• Insiders have made small purchases (Murray Auchincloss bought 85 shares at GBX 446) while BP carries a market cap of £84.71bn, a P/E of 32.51, debt/equity of 105.65 and modest liquidity (current ratio 1.22, quick ratio 0.62).

BP p.l.c. (LON:BP - Get Free Report)'s share price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 446 and traded as low as GBX 432. BP shares last traded at GBX 437.90, with a volume of 41,667,701 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Citigroup lifted their price target on BP from GBX 475 to GBX 525 and gave the company a "buy" rating in a research note on Monday, November 3rd. JPMorgan Chase & Co. boosted their price objective on BP from GBX 460 to GBX 480 and gave the company a "neutral" rating in a research report on Friday, December 5th. Berenberg Bank upped their target price on BP from GBX 490 to GBX 525 and gave the stock a "buy" rating in a research note on Tuesday, November 4th. Royal Bank Of Canada reissued a "sector perform" rating and issued a GBX 500 price target on shares of BP in a research note on Thursday, November 6th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a GBX 420 price target on shares of BP in a report on Monday, November 17th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of GBX 490.

BP Price Performance

The company has a debt-to-equity ratio of 105.65, a current ratio of 1.22 and a quick ratio of 0.62. The stock has a market capitalization of £84.71 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. The stock has a 50 day moving average price of GBX 446 and a 200-day moving average price of GBX 423.99.

Insider Transactions at BP

In other BP news, insider Murray Auchincloss bought 85 shares of the company's stock in a transaction dated Wednesday, December 10th. The stock was acquired at an average price of GBX 446 per share, with a total value of £379.10. Over the last 90 days, insiders have acquired 102 shares of company stock worth $45,466. 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. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.

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