BP (LON:BP) Shares Cross Above 50 Day Moving Average – Here’s Why

BP p.l.c. (LON:BP) shares 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 changing hands.

Wall Street Analysts Forecast Growth

BP has been the topic of a number of analyst reports. Berenberg Bank decreased their price objective on shares of BP from GBX 525 to GBX 520 and set a “buy” rating on the stock in a research report on Thursday, January 15th. JPMorgan Chase & Co. increased their target price on shares of BP from GBX 460 to GBX 480 and gave the stock a “neutral” rating in a report on Friday, December 5th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a GBX 440 target price on shares of BP in a research note on Tuesday, January 20th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of GBX 493.

BP Stock Performance

The company has a quick ratio of 0.62, a current ratio of 1.26 and a debt-to-equity ratio of 136.71. The company has a market cap of £113.49 billion, a P/E ratio of 43.56, a P/E/G ratio of 0.35 and a beta of 0.06. The business has a fifty day moving average of GBX 484.70 and a 200 day moving average of GBX 453.20.

Insider Transactions at BP

In related news, insider Carol Howle acquired 73 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was acquired at an average cost of GBX 426 per share, for a total transaction of £310.98. Over the last quarter, 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.