BP (LON:BP) Shares Pass Above Fifty Day Moving Average - Here's Why

Key Points

• BP's stock price crossed above its fifty-day moving average, trading at GBX 420.55 ($5.72) as of the latest update.
• Equities analysts show mixed opinions, with a consensus rating of "Hold" and an average target price of GBX 450, while some forecasts predict a price increase to GBX 500.
• The company has a market cap of £81.56 billion and a P/E ratio of 31.30, indicating its valuation relative to earnings.

BP p.l.c. (LON:BP - Get Free Report) shares passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 412.65 ($5.56) and traded as high as GBX 426.10 ($5.74). BP shares last traded at GBX 420.55 ($5.67), with a volume of 24,744,272 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BP. Royal Bank Of Canada reissued a "sector perform" rating and set a GBX 470 price objective on shares of BP in a report on Friday, August 29th. Berenberg Bank raised shares of BP from a "hold" rating to a "buy" rating and upped their price objective for the company from GBX 385 to GBX 500 in a research note on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on shares of BP from GBX 420 to GBX 440 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a GBX 390 price target on shares of BP in a research note on Tuesday, August 5th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of GBX 450.

BP Trading Down 1.2%

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 firm has a fifty day simple moving average of GBX 415.79 and a two-hundred day simple moving average of GBX 392.45. The firm has a market cap of £81.85 billion, a PE ratio of 31.41, a PEG ratio of 0.35 and a beta of 0.49.

Insiders Place Their Bets

In related news, insider Murray Auchincloss purchased 97 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were acquired at an average price of GBX 385 per share, for a total transaction of £373.45. Insiders have acquired a total of 115 shares of company stock valued at $44,655 in the last quarter. Insiders own 0.26% of the company's stock.

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.