BP (LON:BP) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

BP p.l.c. (LON:BP)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of GBX 536.53 and traded as high as GBX 562.30. BP shares last traded at GBX 558.70, with a volume of 65,608,225 shares.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of BP in a report on Wednesday, July 1st. Berenberg Bank boosted their target price on BP from GBX 600 to GBX 605 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 520 target price on shares of BP in a report on Tuesday, August 25th. UBS Group reiterated a “buy” rating on shares of BP in a research report on Tuesday, June 16th. Finally, JPMorgan Chase & Co. lifted their price target on BP from GBX 550 to GBX 675 and gave the stock an “overweight” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 605.

BP Stock Down 0.1%

The business’s 50 day moving average is GBX 537.81 and its 200 day moving average is GBX 538.06. The company has a debt-to-equity ratio of 124.41, a quick ratio of 0.62 and a current ratio of 1.27. The stock has a market cap of £105.55 billion, a price-to-earnings ratio of 40.51, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06.

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.