BP (LON:BP) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

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 460.96 ($6.02) and traded as low as GBX 405.15 ($5.29). BP shares last traded at GBX 408.40 ($5.33), with a volume of 29,113,517 shares traded.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of BP in a research report on Tuesday, September 24th. Bank of America reiterated a “buy” rating and set a GBX 500 ($6.53) price objective on shares of BP in a research report on Wednesday, September 4th. Berenberg Bank reissued a “hold” rating and issued a GBX 510 ($6.66) target price on shares of BP in a report on Monday, August 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a GBX 650 ($8.49) price target on shares of BP in a research note on Tuesday, June 18th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of GBX 632 ($8.25).

BP Stock Down 3.9 %

The company has a quick ratio of 0.62, a current ratio of 1.24 and a debt-to-equity ratio of 79.91. The company has a fifty day simple moving average of GBX 417.46 and a 200-day simple moving average of GBX 460.96. The firm has a market cap of £62.45 billion, a P/E ratio of 1,276.25, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49.

BP Increases Dividend

The company also recently announced a dividend, which was paid on Friday, September 20th. Investors of record on Thursday, August 8th were issued a $0.08 dividend. This represents a yield of 1.37%. This is a positive change from BP’s previous dividend of $0.07. The ex-dividend date of this dividend was Thursday, August 8th. BP’s dividend payout ratio is currently 7,187.50%.

Insiders Place Their Bets

In other news, insider Hina Nagarajan bought 5,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of GBX 407 ($5.31) per share, for a total transaction of £20,350 ($26,573.52). In other BP news, insider Murray Auchincloss sold 454,841 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of GBX 459 ($5.99), for a total value of £2,087,720.19 ($2,726,195.08). Also, insider Hina Nagarajan acquired 5,000 shares of BP stock in a transaction dated Friday, September 6th. The shares were bought at an average price of GBX 407 ($5.31) per share, for a total transaction of £20,350 ($26,573.52). In the last 90 days, insiders have bought 10,100 shares of company stock worth $4,223,044. Company 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.