BP (LON:BP) Stock Price Passes Below 200-Day Moving Average – What’s Next?

BP p.l.c. (LON:BP) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 409.01 ($5.23) and traded as low as GBX 342.50 ($4.38). BP shares last traded at GBX 348.95 ($4.46), with a volume of 77,746,410 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on BP shares. JPMorgan Chase & Co. raised BP to a “neutral” rating and raised their target price for the company from GBX 440 ($5.62) to GBX 510 ($6.52) in a report on Thursday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and set a GBX 480 ($6.13) price objective on shares of BP in a report on Thursday, February 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 540 ($6.90) target price on shares of BP in a report on Monday, December 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 494 ($6.31).

BP Stock Performance

The stock has a market cap of £67.92 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49. The company has a debt-to-equity ratio of 105.65, a current ratio of 1.22 and a quick ratio of 0.62. The stock’s 50-day moving average is GBX 431.05 and its 200-day moving average is GBX 409.01.

Insider Transactions at BP

In other news, insider Murray Auchincloss purchased 87 shares of the stock in a transaction on Monday, February 10th. The stock was purchased at an average price of GBX 433 ($5.53) per share, with a total value of £376.71 ($481.36). Insiders have purchased a total of 180 shares of company stock worth $76,960 in the last three months. Company insiders own 0.26% of the company’s stock.

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.