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

Key Points

• BP's stock price has recently surpassed its 50-day moving average, reaching a high of GBX 406.90 ($5.41) during trading, while the last traded price was GBX 398.70 ($5.30).
• The company boasts a market capitalization of £79.03 billion and has reported a price-to-earnings ratio of 30.33 and a beta of 0.49.
• Recent insider trading at BP involved the sale of 336,621 shares by insider Murray Auchincloss, amounting to a total transaction of £1.2 million ($1.6 million).

Shares of BP p.l.c. (LON:BP - Get Free Report) crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 380.84 ($5.12) and traded as high as GBX 406.90 ($5.47). BP shares last traded at GBX 398.70 ($5.36), with a volume of 14,779,654 shares trading hands.

Wall Street Analysts Forecast Growth

BP has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a GBX 390 ($5.24) price target on shares of BP in a research note on Tuesday. Royal Bank Of Canada boosted their price objective on BP from GBX 450 ($6.05) to GBX 470 ($6.32) and gave the stock a "sector perform" rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price objective on BP from GBX 420 ($5.65) to GBX 440 ($5.92) and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Berenberg Bank raised BP from a "hold" rating to a "buy" rating and boosted their price objective for the stock from GBX 385 ($5.18) to GBX 500 ($6.72) in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of GBX 460 ($6.19).

BP Stock Performance

The stock has a market capitalization of £83.76 billion, a P/E ratio of 32.15, a P/E/G ratio of 0.35 and a beta of 0.49. The business's fifty day moving average price is GBX 385.28 and its two-hundred day moving average price is GBX 395.67. 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

In other news, insider Murray Auchincloss bought 97 shares of BP stock in a transaction on Thursday, July 10th. The shares were bought at an average cost of GBX 385 ($5.18) per share, with a total value of £373.45 ($502.22). Insiders have acquired a total of 214 shares of company stock worth $80,903 in the last quarter. 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.