BP (NYSE:BP) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

BP p.l.c. (NYSE:BP) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $33.97 and traded as high as $34.61. BP shares last traded at $34.39, with a volume of 7,541,022 shares trading hands.

Analyst Ratings Changes

BP has been the topic of several research reports. Santander upgraded shares of BP to an “outperform” rating in a report on Monday, November 3rd. BNP Paribas raised shares of BP from a “neutral” rating to an “outperform” rating in a research report on Monday, September 15th. Wall Street Zen raised shares of BP from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Barclays reaffirmed an “overweight” rating on shares of BP in a research report on Friday, December 12th. Finally, Scotiabank reissued an “outperform” rating on shares of BP in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $43.23.

BP Trading Up 0.4%

The company has a market capitalization of $89.79 billion, a PE ratio of 59.29, a PEG ratio of 1.69 and a beta of 0.32. The company has a current ratio of 1.19, a quick ratio of 0.89 and a debt-to-equity ratio of 0.70. The business’s 50-day simple moving average is $35.44 and its two-hundred day simple moving average is $33.97.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, November 4th. The oil and gas exploration company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.72 by $0.13. BP had a return on equity of 9.07% and a net margin of 0.79%.The business had revenue of $48.42 billion for the quarter, compared to analysts’ expectations of $43.76 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. On average, analysts predict that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 14th were paid a dividend of $0.4992 per share. This is an increase from BP’s previous quarterly dividend of $0.49. The ex-dividend date was Friday, November 14th. This represents a $2.00 annualized dividend and a dividend yield of 5.8%. BP’s dividend payout ratio (DPR) is currently 341.38%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Strategic Advocates LLC bought a new stake in shares of BP in the 3rd quarter worth about $25,000. Heartwood Wealth Advisors LLC acquired a new position in BP in the third quarter worth about $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in BP in the second quarter valued at about $27,000. Acima Private Wealth LLC acquired a new stake in BP during the second quarter valued at approximately $32,000. Finally, Triumph Capital Management bought a new position in BP during the 3rd quarter worth approximately $43,000. 11.01% of the stock is currently owned by institutional investors.

BP Company Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.