BP (LON:BP) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• BP's stock price has crossed above its 50-day moving average, trading as high as GBX 434.45 ($5.83) on Tuesday.
• Research firms have issued mixed ratings for BP, with Berenberg Bank upgrading it to a buy and setting a price target of GBX 500.
• Insider trading activity includes significant purchases, with Amanda Blanc acquiring 23,600 shares at an average price of GBX 426 each, totaling over £100,000.

BP p.l.c. (LON:BP - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 423.14 ($5.68) and traded as high as GBX 434.45 ($5.83). BP shares last traded at GBX 432.80 ($5.81), with a volume of 25,328,227 shares.

Analyst Upgrades and Downgrades

Several research firms have commented on BP. Berenberg Bank upgraded shares of BP from a "hold" rating to a "buy" rating and boosted their price target for the stock from GBX 385 to GBX 500 in a report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price target on shares of BP from GBX 420 to GBX 440 and gave the stock a "neutral" rating in a report on Wednesday, August 6th. Royal Bank Of Canada reiterated a "sector perform" rating and set a GBX 470 price target on shares of BP in a report on Friday, August 29th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a GBX 390 price target on shares of BP in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of GBX 450.

BP Stock Performance

The firm's 50-day moving average is GBX 423.14 and its 200 day moving average is GBX 392.91. The stock has a market cap of £84.00 billion, a PE ratio of 32.24, a P/E/G 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.

Insider Buying and Selling at BP

In other BP news, insider Amanda Blanc purchased 23,600 shares of BP stock in a transaction that occurred on Friday, September 19th. The stock was purchased at an average price of GBX 426 per share, for a total transaction of £100,536. Also, insider Murray Auchincloss purchased 97 shares of BP stock in a transaction that occurred on Thursday, July 10th. The stock was acquired at an average price of GBX 385 per share, with a total value of £373.45. In the last quarter, insiders purchased 23,715 shares of company stock valued at $10,098,255. 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.

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