BP (LON:BP) Stock Price Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of BP p.l.c. (LON:BP) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 503.53 and traded as low as GBX 494. BP shares last traded at GBX 500.20, with a volume of 24,701,149 shares.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BP shares. The Goldman Sachs Group reissued a “buy” rating on shares of BP in a research note on Wednesday, April 29th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 700 price target on shares of BP in a report on Wednesday, April 29th. BNP Paribas Exane upgraded BP from a “neutral” rating to an “outperform” rating in a research report on Friday, April 17th. Barclays reissued a “buy” rating on shares of BP in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of BP in a research report on Friday, June 5th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 635.

BP Stock Performance

The stock has a market cap of £93.43 billion, a price-to-earnings ratio of 35.86, a PEG ratio of 0.35 and a beta of 0.06. The company has a debt-to-equity ratio of 132.55, a quick ratio of 0.62 and a current ratio of 1.22. The company’s 50 day simple moving average is GBX 545.26 and its 200 day simple moving average is GBX 503.77.

BP Company Profile

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.