BP (LON:BP) Stock Price Crosses Above Fifty Day Moving Average - Should You Sell?

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.

Shares of BP p.l.c. (LON:BP - Get Free Report) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 412.65 ($5.61) and traded as high as GBX 426.10 ($5.80). BP shares last traded at GBX 420.55 ($5.72), with a volume of 24,744,272 shares traded.

Wall Street Analysts Forecast Growth

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

BP Stock Performance

The company has a market cap of £81.56 billion, a P/E ratio of 31.30, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. The company has a quick ratio of 0.62, a current ratio of 1.22 and a debt-to-equity ratio of 105.65. The stock's 50-day moving average price is GBX 412.65 and its 200 day moving average price is GBX 392.23.

Insider Activity at BP

In other news, insider Murray Auchincloss purchased 97 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were bought at an average price of GBX 385 per share, with a total value of £373.45. Insiders have purchased a total of 115 shares of company stock valued at $44,655 over the last 90 days. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.