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

BP p.l.c. (LON:BP)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of GBX 484.70 and traded as high as GBX 567.10. BP shares last traded at GBX 567.10, with a volume of 53,485,731 shares.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BP shares. Jefferies Financial Group restated a “hold” rating and set a GBX 440 target price on shares of BP in a research note on Tuesday, January 20th. JPMorgan Chase & Co. boosted their target price on shares of BP from GBX 460 to GBX 480 and gave the company a “neutral” rating in a research report on Friday, December 5th. Finally, Berenberg Bank lowered their price objective on BP from GBX 525 to GBX 520 and set a “buy” rating on the stock in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of GBX 493.

BP Trading Up 0.2%

The company has a debt-to-equity ratio of 136.71, a current ratio of 1.26 and a quick ratio of 0.62. The company’s 50 day simple moving average is GBX 487.60 and its two-hundred day simple moving average is GBX 454.36. The company has a market cap of £113.68 billion, a PE ratio of 43.63, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06.

Insider Activity

In other BP news, insider Carol Howle purchased 62 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were bought at an average cost of GBX 510 per share, for a total transaction of £316.20. Over the last three months, insiders have acquired 215 shares of company stock worth $100,858. 0.26% of the stock is currently owned by insiders.

About BP

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.