BP (NYSE:BP) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

BP p.l.c. (NYSE:BP) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $40.07 and traded as high as $44.11. BP shares last traded at $43.7460, with a volume of 5,122,840 shares.

Key Headlines Impacting BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP began first commercial non-associated gas production at its ACG field in the Caspian Sea, opening up a new growth stream from an estimated 4-6 Tcf of recoverable gas resources. This could meaningfully expand BP’s production profile and supports the bull case for future cash flow. First Non-Associated Gas Flows at BP’s ACG Field in the Caspian Sea
• Positive Sentiment: BP also reportedly held talks to sell about £2 billion of UK North Sea assets to Ithaca Energy, which would fit management’s strategy of reshaping the portfolio and potentially strengthening the balance sheet. BP held talks to sell North Sea assets to Ithaca for £2 billion, FT reports
• Positive Sentiment: BP’s start-up of gas production at ACG is another operational milestone that highlights continued execution in Azerbaijan, reinforcing the company’s long-term growth narrative. BP starts NAG production at ACG field offshore Azerbaijan
• Neutral Sentiment: BP appointed Amanda Blanc to lead the search for its next chair, a governance update that may help clarify succession planning but does not directly change near-term fundamentals. BP tasks independent director Amanda Blanc to lead search for next chair
• Neutral Sentiment: BP is set to transfer operation of the BTC pipeline to Azerbaijan’s SOCAR on July 1, a planned contractual handover that is largely administrative. BP says it is set to transfer running of BTC pipeline to Azerbaijan’s SOCAR
• Negative Sentiment: Reports that BP may quit the North Sea after Labour’s tax increases raise concerns about policy pressure, future regional investment, and potential restructuring costs. BP considers quitting North Sea after Labour tax raid
• Negative Sentiment: A Pomerantz law firm investigation into claims on behalf of BP investors adds a headline risk that can weigh on sentiment, even though it does not yet imply wrongdoing. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of BP p.l.c. – BP
• Negative Sentiment: Media reports of an executive departure and broader leadership churn at BP may raise concerns about internal stability during a period of strategic change. Exec exodus continues at BP as gas boss quits…

Wall Street Analysts Forecast Growth

Several research firms have commented on BP. Wells Fargo & Company boosted their price objective on BP from $39.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. TD Cowen cut their price objective on BP from $37.00 to $35.00 and set a “hold” rating for the company in a research note on Friday, February 13th. Scotiabank boosted their price objective on BP from $41.00 to $58.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, April 22nd. Weiss Ratings raised shares of BP from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, March 24th. Finally, BNP Paribas Exane set a $57.00 target price on shares of BP and gave the stock an “outperform” rating in a report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, BP currently has an average rating of “Moderate Buy” and an average target price of $46.14.

BP Stock Up 0.8%

The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $45.32 and a 200-day moving average price of $40.07. The firm has a market capitalization of $114.57 billion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 0.55 and a beta of 0.14.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.24. BP had a net margin of 1.62% and a return on equity of 12.06%. The firm had revenue of $52.26 billion during the quarter, compared to analyst estimates of $48.50 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. BP’s quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that BP p.l.c. will post 5.08 earnings per share for the current fiscal year.

BP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, May 15th will be issued a $0.4992 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.6%. BP’s dividend payout ratio is currently 165.00%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BP. Strategic Advocates LLC purchased a new position in BP in the third quarter worth approximately $25,000. YANKCOM Partnership grew its position in BP by 1,068.3% in the fourth quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company’s stock worth $33,000 after acquiring an additional 876 shares during the period. Financial Life Planners purchased a new position in BP in the first quarter worth approximately $39,000. Triumph Capital Management purchased a new position in BP in the third quarter worth approximately $43,000. Finally, LRI Investments LLC grew its position in BP by 76.2% in the fourth quarter. LRI Investments LLC now owns 1,276 shares of the oil and gas exploration company’s stock worth $44,000 after acquiring an additional 552 shares during the period. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

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.