BP (LON:BP) Share Price Crosses Above 50-Day Moving Average – Here’s Why

BP p.l.c. (LON:BP) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 404.57 ($5.00) and traded as high as GBX 435.50 ($5.38). BP shares last traded at GBX 433.25 ($5.35), with a volume of 23,160,306 shares.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 540 ($6.67) target price on shares of BP in a report on Monday, December 16th. JPMorgan Chase & Co. boosted their price objective on shares of BP from GBX 425 ($5.25) to GBX 440 ($5.44) and gave the company an “underweight” rating in a research note on Tuesday, January 14th. Finally, Berenberg Bank lowered their target price on shares of BP from GBX 470 ($5.81) to GBX 440 ($5.44) and set a “hold” rating on the stock in a research note on Friday, November 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of GBX 595 ($7.35).

BP Stock Performance

The company’s 50-day moving average is GBX 404.57 and its two-hundred day moving average is GBX 407.93. The company has a market capitalization of £68.67 billion, a P/E ratio of 1,312.88, a PEG ratio of 0.35 and a beta of 0.49. The company has a quick ratio of 0.62, a current ratio of 1.24 and a debt-to-equity ratio of 79.91.

Insiders Place Their Bets

In other BP news, insider Murray Auchincloss purchased 88 shares of BP stock in a transaction on Friday, January 10th. The shares were acquired at an average cost of GBX 423 ($5.23) per share, for a total transaction of £372.24 ($460.01). Corporate 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.