BP (LON:BP) Stock Passes Below 200 Day Moving Average - Time to Sell?

BP p.l.c. (LON:BP - Get Free Report) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 398.49 ($5.40) and traded as low as GBX 356.43 ($4.83). BP shares last traded at GBX 360.05 ($4.88), with a volume of 23,649,792 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently commented on BP shares. Royal Bank of Canada reissued a "sector perform" rating and set a GBX 480 ($6.50) target price on shares of BP in a research note on Thursday, February 20th. JPMorgan Chase & Co. raised shares of BP to a "neutral" rating and boosted their target price for the stock from GBX 440 ($5.96) to GBX 510 ($6.91) in a research note on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, BP currently has an average rating of "Hold" and a consensus target price of GBX 494 ($6.69).

BP Stock Performance

The company has a market cap of £70.02 billion, a PE ratio of 26.87, a PEG ratio of 0.35 and a beta of 0.49. The company has a debt-to-equity ratio of 105.65, a quick ratio of 0.62 and a current ratio of 1.22. The firm's 50 day moving average is GBX 368.25 and its 200-day moving average is GBX 398.56.

Insider Transactions at BP

In other news, insider Murray Auchincloss acquired 113 shares of BP stock in a transaction dated Thursday, April 10th. The shares were acquired at an average cost of GBX 333 ($4.51) per share, for a total transaction of £376.29 ($509.74). Also, insider Hina Nagarajan purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were bought at an average price of GBX 348 ($4.71) per share, for a total transaction of £17,400 ($23,570.85). In the last three months, insiders have purchased 5,220 shares of company stock worth $1,817,638. 0.26% of the stock is currently 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.