BP (LON:BP) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

BP p.l.c. (LON:BP)’s share price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 399.57 ($5.35) and traded as low as GBX 364.85 ($4.89). BP shares last traded at GBX 365.50 ($4.89), with a volume of 23,277,758 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a GBX 480 ($6.43) price objective on shares of BP in a research note on Thursday, February 20th. JPMorgan Chase & Co. upgraded shares of BP to a “neutral” rating and increased their target price for the company from GBX 440 ($5.89) to GBX 510 ($6.83) in a report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, BP presently has a consensus rating of “Hold” and a consensus price target of GBX 494 ($6.62).

BP Stock Down 2.0%

The company has a market capitalization of £71.14 billion, a PE ratio of 27.30, a PEG ratio of 0.35 and a beta of 0.49. The company has a debt-to-equity ratio of 105.65, a quick ratio of 0.62 and a current ratio of 1.22. The stock’s 50 day moving average is GBX 382.38 and its 200 day moving average is GBX 399.57.

Insiders Place Their Bets

In related news, insider Murray Auchincloss acquired 102 shares of the stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of GBX 372 ($4.98) per share, for a total transaction of £379.44 ($508.16). Also, insider Hina Nagarajan acquired 5,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were bought at an average price of GBX 348 ($4.66) per share, for a total transaction of £17,400 ($23,302.53). Insiders have bought 5,220 shares of company stock worth $1,817,638 in the last three months. 0.26% of the stock is currently owned by corporate 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.