BP (LON:BP) Shares Cross Above Fifty Day Moving Average – What’s Next?

BP p.l.c. (LON:BP)’s share price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of GBX 542.53 and traded as high as GBX 561.30. BP shares last traded at GBX 557.80, with a volume of 29,515,043 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of BP from GBX 550 to GBX 675 and gave the company an “overweight” rating in a research report on Wednesday, September 23rd. Royal Bank Of Canada restated a “buy” rating on shares of BP in a research note on Thursday, September 24th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 520 target price on shares of BP in a research report on Tuesday, August 25th. UBS Group reiterated a “buy” rating on shares of BP in a research note on Monday, September 28th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of BP in a report on Wednesday, July 1st. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, BP presently has a consensus rating of “Moderate Buy” and an average target price of GBX 605.

BP Trading Down 0.4%

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 business’s 50 day moving average price is GBX 543.11 and its 200-day moving average price is GBX 540.59. The firm has a market cap of £109.17 billion, a price-to-earnings ratio of 41.90, 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.