BP (LON:BP) Shares Cross Below 200-Day Moving Average – Time to Sell?

BP p.l.c. (LON:BP) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 456.89 ($5.93) and traded as low as GBX 402.40 ($5.22). BP shares last traded at GBX 406.45 ($5.28), with a volume of 22,876,063 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on BP shares. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of BP in a research note on Tuesday, September 24th. Bank of America restated a “buy” rating and set a GBX 500 ($6.49) price target on shares of BP in a report on Wednesday, September 4th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 510 ($6.62) price objective on shares of BP in a research note on Monday, August 5th. Two investment 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. According to MarketBeat.com, BP currently has a consensus rating of “Hold” and a consensus price target of GBX 632 ($8.21).

BP Stock Down 0.9 %

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’s 50 day moving average price is GBX 413.20 and its two-hundred day moving average price is GBX 456.89. The company has a market cap of £63.83 billion, a P/E ratio of 1,220.30, a price-to-earnings-growth ratio of 0.35 and a beta of 0.49.

BP Increases Dividend

The business also recently declared a dividend, which was paid on Friday, September 20th. Shareholders of record on Thursday, August 8th were paid a $0.08 dividend. This is an increase from BP’s previous dividend of $0.07. This represents a yield of 1.37%. The ex-dividend date of this dividend was Thursday, August 8th. BP’s payout ratio is 6,969.70%.

Insider Transactions at BP

In other news, insider Hina Nagarajan acquired 5,000 shares of BP stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of GBX 429 ($5.57) per share, with a total value of £21,450 ($27,849.91). 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 shares were acquired at an average price of GBX 434 ($5.63) per share, with a total value of £377.58 ($490.24). Also, insider Hina Nagarajan acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of GBX 429 ($5.57) per share, with a total value of £21,450 ($27,849.91). Insiders have purchased 10,100 shares of company stock valued at $4,223,044 in the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

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.