BP (LON:BP) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

BP p.l.c. (LON:BP) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 516.06 and traded as high as GBX 545.60. BP shares last traded at GBX 543.50, with a volume of 30,978,147 shares changing hands.

Key Stories Impacting BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: Cost reductions: BP plans to eliminate approximately 700 upstream jobs globally as part of a company simplification program. The cuts could lower operating expenses and support cash flow, although they also reflect a challenging oil-market environment. BP to cut 700 jobs as it simplifies company, internal email shows
• Positive Sentiment: Improved earnings backdrop: BP’s recent trading update pointed to stronger realized oil and gas prices, solid oil-trading performance and improved refining margins. Those factors may lift quarterly earnings and cash-flow expectations despite lower production caused by maintenance and Middle East disruptions. Why BP Stock Is Up Today
• Positive Sentiment: U.S. Gulf expansion: BP has begun a new U.S. Gulf project, signaling continued investment in oil and gas assets that could add production and long-term cash generation. BP fires up US Gulf expansion project
• Neutral Sentiment: Iraq portfolio transaction: BP is selling a 15% interest in Iraqi oil and gas fields to Türkiye’s TPAO while partnering on redevelopment of the Kirkuk project. The deal may reduce BP’s capital exposure and bring in a strategic partner, but it also limits BP’s direct participation in future upside. BP sells stake in Iraq oil and gas fields to Turkey’s TPAO
• Negative Sentiment: Oversupply concerns: Reports attribute the job reductions partly to excess oil supply, highlighting pressure on margins and the possibility of weaker industry conditions if crude prices or production economics deteriorate. Oil giant BP to cut 700 jobs globally as it simplifies company

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Berenberg Bank boosted their price target on BP from GBX 590 to GBX 600 and gave the company a “buy” rating in a report on Wednesday, July 15th. Barclays reissued a “buy” rating on shares of BP in a research report on Tuesday, May 26th. Jefferies Financial Group restated a “neutral” rating and issued a $6.50 target price on shares of BP in a research note on Thursday, May 21st. DZ Bank reaffirmed a “buy” rating on shares of BP in a research report on Tuesday, April 28th. Finally, BNP Paribas Exane raised BP from a “neutral” rating to an “outperform” rating in a research report on Friday, April 17th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of GBX 605.

BP Stock Up 3.4%

The firm has a fifty day moving average of GBX 513.80 and a 200-day moving average of GBX 516.06. The company has a quick ratio of 0.62, a current ratio of 1.22 and a debt-to-equity ratio of 132.55. The firm has a market cap of £105.78 billion, a P/E ratio of 40.60, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06.

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. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.