BP (LON:BP) Shares Pass Below 200-Day Moving Average - Here's Why

BP p.l.c. (LON:BP - Get Free Report)'s share price 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 ($5.36) and traded as low as GBX 356.43 ($4.80). BP shares last traded at GBX 360.05 ($4.84), with a volume of 23,649,792 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on BP. JPMorgan Chase & Co. upgraded shares of BP to a "neutral" rating and upped their price target for the company from GBX 440 ($5.92) to GBX 510 ($6.86) in a report on Thursday, February 20th. Royal Bank of Canada reiterated a "sector perform" rating and set a GBX 480 ($6.46) price target on shares of BP in a report 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of GBX 494 ($6.65).

BP Price Performance

The firm's 50-day moving average price is GBX 369.89 and its two-hundred day moving average price is GBX 398.28. The stock has a market cap of £69.68 billion, a PE ratio of 26.74, a PEG 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 Transactions at BP

In other news, insider Hina Nagarajan bought 5,000 shares of BP stock in a transaction on Friday, May 2nd. The shares were bought at an average cost of GBX 348 ($4.68) per share, with a total value of £17,400 ($23,412.27). Also, insider Murray Auchincloss sold 336,621 shares of BP stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of GBX 359 ($4.83), for a total transaction of £1,208,469.39 ($1,626,035.24). Insiders have acquired 5,220 shares of company stock worth $1,817,638 over the last 90 days. 0.26% of the stock is currently owned by company insiders.

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.