HSBC Securities slashes price target on BP p.l.c. [BP] – find out why.

BP p.l.c. [NYSE: BP] stock went on a downward path that fall over -0.38% on Friday, amounting to a one-week price decrease of less than -1.38%. The company report on August 17, 2020 that Republic Services, Aria Energy and bp Partner on New Renewable Energy Project.

Renewable Natural Gas Facility Begins Operations at South Shelby Landfill.

Republic Services (NYSE: RSG) and energy partners Aria Energy and bp (NYSE: BP) announced the startup of a landfill-gas-to-renewable-natural-gas (RNG) project at South Shelby Landfill. The project directly supports Republic’s commitment to send 50 percent more landfill gas to beneficial reuse by 2030.

Over the last 12 months, BP stock rose by 1.38%. The one-year BP p.l.c. stock forecast points to a potential upside of 27.55. The average equity rating for BP stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $78.82 billion, with 3.38 billion shares outstanding and 3.34 billion shares in the current float. Compared to the average trading volume of 12.58M shares, BP stock reached a trading volume of 8803580 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on BP p.l.c. [BP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BP shares is $32.49 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BP stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

HSBC Securities have made an estimate for BP p.l.c. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on June 24, 2021. The new note on the price target was released on April 21, 2021, representing the official price target for BP p.l.c. stock.

The Average True Range (ATR) for BP p.l.c. is set at 0.68, with the Price to Sales ratio for BP stock in the period of the last 12 months amounting to 0.58. The Price to Book ratio for the last quarter was 1.05, with the Price to Cash per share for the same quarter was set at 9.52. Price to Free Cash Flow for BP in the course of the last twelve months was 168.79 with Quick ratio for the last quarter at 0.90.

BP Stock Performance Analysis:

BP p.l.c. [BP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.38. With this latest performance, BP shares dropped by -13.55% in over the last four-week period, additionally sinking by -1.38% over the last 6 months – not to mention a rise of 1.38% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BP stock in for the last two-week period is set at 32.75, with the RSI for the last a single of trading hit 30.35, and the three-weeks RSI is set at 36.08 for BP p.l.c. [BP]. The present Moving Average for the last 50 days of trading for this stock 26.36, while it was recorded at 23.46 for the last single week of trading, and 23.30 for the last 200 days.

Insight into BP p.l.c. Fundamentals:

BP p.l.c.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.30.

BP Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for BP p.l.c. go to -3.00%.

BP p.l.c. [BP] Insider Position Details

There are presently around $6,537 million, or 8.60% of BP stock, in the hands of institutional investors. The top three institutional holders of BP stocks are: STATE STREET CORP with ownership of 27,257,468, which is approximately -4.036% of the company’s market cap and around 0.50% of the total institutional ownership; ARROWSTREET CAPITAL, LIMITED PARTNERSHIP, holding 17,382,782 shares of the stock with an approximate value of $409.19 million in BP stocks shares; and DIMENSIONAL FUND ADVISORS LP, currently with $336.14 million in BP stock with ownership of nearly 4.364% of the company’s market capitalization.

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Positions in BP p.l.c. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 468 institutional holders increased their position in BP p.l.c. [NYSE:BP] by around 53,196,076 shares. Additionally, 378 investors decreased positions by around 41,698,021 shares, while 150 investors held positions by with 182,816,882 shares. The mentioned changes placed institutional holdings at 277,710,979 shares, according to the latest SEC report filing. BP stock had 136 new institutional investments in for a total of 16,094,558 shares, while 73 institutional investors sold positions of 8,575,500 shares during the same period.

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