BP (LON:BP) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• BP shares rose above their 200-day moving average, trading as high as GBX 545.60 and last changing hands at GBX 543.50, versus a 200-day average of GBX 516.06.
• Recent developments provide mixed signals: stronger oil and gas prices, refining margins and trading performance could support earnings, while planned cuts of roughly 700 upstream jobs and oil oversupply concerns highlight industry pressure.
• Analysts remain broadly positive, with nine Buy ratings and two Holds, an overall “Moderate Buy” consensus and an average price target of GBX 605.

BP p.l.c. (LON:BP - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 516.06 and traded as high as GBX 545.60. BP shares last traded at GBX 543.50, with a volume of 30,978,147 shares changing hands.

Key BP News

Here are the key news stories impacting BP this week:

• Positive Sentiment: Cost reductions: BP plans to eliminate approximately 700 upstream jobs globally as part of a company simplification program. The cuts could lower operating expenses and support cash flow, although they also reflect a challenging oil-market environment. BP to cut 700 jobs as it simplifies company, internal email shows
• Positive Sentiment: Improved earnings backdrop: BP’s recent trading update pointed to stronger realized oil and gas prices, solid oil-trading performance and improved refining margins. Those factors may lift quarterly earnings and cash-flow expectations despite lower production caused by maintenance and Middle East disruptions. Why BP Stock Is Up Today
• Positive Sentiment: U.S. Gulf expansion: BP has begun a new U.S. Gulf project, signaling continued investment in oil and gas assets that could add production and long-term cash generation. BP fires up US Gulf expansion project
• Neutral Sentiment: Iraq portfolio transaction: BP is selling a 15% interest in Iraqi oil and gas fields to Türkiye’s TPAO while partnering on redevelopment of the Kirkuk project. The deal may reduce BP’s capital exposure and bring in a strategic partner, but it also limits BP’s direct participation in future upside. BP sells stake in Iraq oil and gas fields to Turkey’s TPAO
• Negative Sentiment: Oversupply concerns: Reports attribute the job reductions partly to excess oil supply, highlighting pressure on margins and the possibility of weaker industry conditions if crude prices or production economics deteriorate. Oil giant BP to cut 700 jobs globally as it simplifies company

Wall Street Analysts Forecast Growth

BP has been the topic of several analyst reports. DZ Bank reiterated a "buy" rating on shares of BP in a report on Tuesday, April 28th. Royal Bank Of Canada reissued a "buy" rating on shares of BP in a report on Wednesday, July 1st. The Goldman Sachs Group restated a "buy" rating on shares of BP in a research report on Wednesday, July 1st. Barclays reaffirmed a "buy" rating on shares of BP in a research note on Tuesday, May 26th. Finally, BNP Paribas Exane upgraded BP from a "neutral" rating to an "outperform" rating in a report on Friday, April 17th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of GBX 605.

BP Stock Performance

The stock has a market cap of £105.78 billion, a P/E ratio of 40.60, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06. The company has a debt-to-equity ratio of 132.55, a current ratio of 1.22 and a quick ratio of 0.62. The stock's 50 day simple moving average is GBX 513.80 and its two-hundred day simple moving average is GBX 516.06.

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. 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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