BP (LON:BP) Shares Pass Below 200 Day Moving Average - Should You Sell?

BP p.l.c. (LON:BP - Get Free Report)'s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 397.92 ($5.39) and traded as low as GBX 357.90 ($4.85). BP shares last traded at GBX 358.55 ($4.86), with a volume of 26,241,119 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised shares of BP to a "neutral" rating and increased their price target for the stock from GBX 440 ($5.96) to GBX 510 ($6.91) in a research report on Thursday, February 20th. Royal Bank of Canada reiterated a "sector perform" rating and issued a GBX 480 ($6.50) price objective on shares of BP in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of GBX 494 ($6.69).

BP Trading Up 1.0%

The company has a fifty day simple moving average of GBX 361.85 and a two-hundred day simple moving average of GBX 397.94. The company has a market capitalization of £70.35 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. 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 Activity at BP

In related news, insider Hina Nagarajan acquired 5,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were acquired at an average price of GBX 348 ($4.72) per share, for a total transaction of £17,400 ($23,580.43). Also, insider Murray Auchincloss bought 102 shares of the company's stock in a transaction that occurred on Monday, May 12th. The shares were bought at an average cost of GBX 372 ($5.04) per share, for a total transaction of £379.44 ($514.22). In the last three months, insiders have bought 5,215 shares of company stock worth $1,815,573. 0.26% of the stock is owned by 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.