BP (LON:BP) Share Price Passes Above Fifty Day Moving Average of $523.62
BP plc (LON:BP)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $523.62 and traded as high as $501.00. BP shares last traded at $498.85, with a volume of 27,715,410 shares.
A number of research firms have recently commented on BP. Morgan Stanley reiterated an “overweight” rating and issued a GBX 620 ($8.10) price objective on shares of BP in a research note on Tuesday, July 30th. JPMorgan Chase & Co. set a GBX 625 ($8.17) price objective on BP and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Berenberg Bank reiterated a “buy” rating and issued a GBX 620 ($8.10) price objective on shares of BP in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating on shares of BP in a research note on Wednesday, July 31st. Finally, HSBC set a GBX 645 ($8.43) price objective on BP and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of GBX 653.13 ($8.53).
The firm has a market capitalization of $101.70 billion and a price-to-earnings ratio of 11.39. The business has a 50-day moving average of GBX 522.48 and a two-hundred day moving average of GBX 542.14. The company has a quick ratio of 0.69, a current ratio of 1.07 and a debt-to-equity ratio of 87.42.
In other news, insider Brian Gilvary bought 63 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average cost of GBX 503 ($6.57) per share, with a total value of £316.89 ($414.07). Over the last three months, insiders have purchased 179 shares of company stock worth $95,373.
About BP (LON:BP)
BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
Recommended Story: How to invest in a bear market
Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.