BP (LON:BP) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

BP p.l.c. (LON:BP) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 448.24 ($5.83) and traded as low as GBX 380.05 ($4.95). BP shares last traded at GBX 382 ($4.97), with a volume of 25,729,134 shares changing hands.

Wall Street Analyst Weigh In

BP has been the topic of a number of research analyst reports. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 510 ($6.64) target price on shares of BP in a report on Monday, August 5th. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of BP in a report on Tuesday, September 24th. Finally, Bank of America reaffirmed a “buy” rating and issued a GBX 500 ($6.51) target price on shares of BP in a report on Wednesday, September 4th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, BP has a consensus rating of “Hold” and a consensus target price of GBX 632 ($8.23).

BP Price Performance

The company has a debt-to-equity ratio of 79.91, a quick ratio of 0.62 and a current ratio of 1.24. The firm has a market cap of £61.04 billion, a P/E ratio of 1,157.58, a P/E/G ratio of 0.35 and a beta of 0.49. The company has a 50-day moving average of GBX 404.99 and a 200 day moving average of GBX 448.24.

BP Dividend Announcement

The firm also recently declared a dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, November 7th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, November 7th. This represents a yield of 1.54%. BP’s dividend payout ratio is 6,969.70%.

Insider Activity at BP

In other BP news, insider Murray Auchincloss purchased 87 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of GBX 434 ($5.65) per share, with a total value of £377.58 ($491.51). In other news, insider Hina Nagarajan bought 5,000 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of GBX 407 ($5.30) per share, with a total value of £20,350 ($26,490.50). Also, insider Murray Auchincloss bought 87 shares of the stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of GBX 434 ($5.65) per share, with a total value of £377.58 ($491.51). Insiders acquired 5,100 shares of company stock valued at $2,078,044 in the last three months. Corporate insiders own 0.26% of the company’s stock.

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.