BP (NYSE:BP) Stock Price Crosses Above 200-Day Moving Average – What’s Next?
by Kim Johansen · The Markets DailyBP p.l.c. (NYSE:BP – Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $33.97 and traded as high as $34.61. BP shares last traded at $34.39, with a volume of 7,541,022 shares.
Wall Street Analyst Weigh In
BP has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating on shares of BP in a report on Thursday, October 16th. Weiss Ratings restated a “sell (d+)” rating on shares of BP in a research note on Monday. Citigroup reiterated a “buy” rating on shares of BP in a research report on Monday, November 3rd. Barclays restated an “overweight” rating on shares of BP in a research report on Friday, December 12th. Finally, Bank of America cut shares of BP from a “neutral” rating to an “underperform” rating in a research note on Friday, December 5th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, BP currently has a consensus rating of “Hold” and an average target price of $43.23.
Check Out Our Latest Stock Analysis on BP
BP Stock Down 0.1%
The company has a debt-to-equity ratio of 0.70, a current ratio of 1.19 and a quick ratio of 0.89. The business has a fifty day simple moving average of $35.48 and a 200 day simple moving average of $34.00. The firm has a market cap of $90.65 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 1.71 and a beta of 0.32.
BP (NYSE:BP – Get Free Report) last issued its quarterly earnings results on Tuesday, November 4th. The oil and gas exploration company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.72 by $0.13. The firm had revenue of $48.42 billion during the quarter, compared to analysts’ expectations of $43.76 billion. BP had a return on equity of 9.07% and a net margin of 0.79%.The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.83 earnings per share. As a group, equities analysts forecast that BP p.l.c. will post 3.53 EPS for the current fiscal year.
BP Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, November 14th were paid a $0.4992 dividend. This is an increase from BP’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Friday, November 14th. BP’s payout ratio is 341.38%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in BP. Brown Brothers Harriman & Co. grew its position in shares of BP by 7.0% in the third quarter. Brown Brothers Harriman & Co. now owns 5,738 shares of the oil and gas exploration company’s stock valued at $198,000 after purchasing an additional 374 shares in the last quarter. IHT Wealth Management LLC boosted its stake in BP by 3.3% during the second quarter. IHT Wealth Management LLC now owns 12,513 shares of the oil and gas exploration company’s stock worth $375,000 after buying an additional 398 shares during the last quarter. Great Lakes Advisors LLC increased its stake in shares of BP by 6.0% in the 1st quarter. Great Lakes Advisors LLC now owns 8,022 shares of the oil and gas exploration company’s stock worth $271,000 after acquiring an additional 451 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of BP by 7.4% during the 2nd quarter. Gamco Investors INC. ET AL now owns 8,295 shares of the oil and gas exploration company’s stock worth $248,000 after acquiring an additional 568 shares during the period. Finally, Stock Yards Bank & Trust Co. boosted its position in shares of BP by 1.6% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 37,941 shares of the oil and gas exploration company’s stock valued at $1,136,000 after acquiring an additional 592 shares during the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.
About BP
BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.
The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.