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

BP p.l.c. (LON:BP)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 503.53 and traded as low as GBX 494. BP shares last traded at GBX 500.20, with a volume of 24,701,149 shares trading hands.

Analysts Set New Price Targets

A number of research firms have issued reports on BP. The Goldman Sachs Group reaffirmed a “buy” rating on shares of BP in a research note on Wednesday, April 29th. Morgan Stanley upgraded BP to an “overweight” rating in a research report on Wednesday, March 25th. DZ Bank reissued a “buy” rating on shares of BP in a report on Tuesday, April 28th. Barclays restated a “buy” rating on shares of BP in a research report on Tuesday, May 26th. Finally, Jefferies Financial Group reaffirmed a “neutral” rating and set a $6.50 price target on shares of BP in a research note on Thursday, May 21st. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of GBX 635.

BP Stock Down 0.7%

The company has a fifty day moving average of GBX 546.77 and a two-hundred day moving average of GBX 503.53. The company has a market cap of £97.35 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 0.35 and a beta of 0.06. The company has a debt-to-equity ratio of 132.55, a quick ratio of 0.62 and a current ratio of 1.22.

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. In addition, the company involved in convenience and retail fuel, EV charging, Castrol lubricant, aviation, B2B, and midstream businesses; refining and oil trading; and bioenergy business.