BP (LON:BP) Shares Cross Below 200-Day Moving Average - Here's What Happened

BP p.l.c. (LON:BP - Get Free Report)'s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 397.16 ($5.39) and traded as low as GBX 376.55 ($5.11). BP shares last traded at GBX 380.70 ($5.17), with a volume of 28,193,311 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BP shares. JPMorgan Chase & Co. upgraded BP to a "neutral" rating and boosted their price objective for the company from GBX 440 ($5.97) to GBX 510 ($6.92) in a research report on Thursday, February 20th. Royal Bank of Canada restated a "sector perform" rating and issued a GBX 480 ($6.51) price objective on shares of BP in a research report on Thursday, February 20th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of GBX 494 ($6.70).

BP Trading Up 1.5%

The firm has a market cap of £75.19 billion, a PE ratio of 28.86, a P/E/G 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. The business has a fifty day moving average price of GBX 359.16 and a 200 day moving average price of GBX 397.16.

Insider Activity

In related news, insider Hina Nagarajan purchased 5,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were purchased at an average price of GBX 348 ($4.72) per share, for a total transaction of £17,400 ($23,609.23). Also, insider Murray Auchincloss sold 336,621 shares of BP stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of GBX 359 ($4.87), for a total value of £1,208,469.39 ($1,639,714.23). In the last 90 days, insiders have acquired 5,222 shares of company stock worth $1,818,107. 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.

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