BP p.l.c. [BP] moved down -0.83: Why It’s Important


BP p.l.c. [NYSE: BP] slipped around -0.23 points on Friday, while shares priced at $27.55 at the close of the session, down -0.83%. The company report on June 13, 2022 that bp reshapes Canada portfolio for strong future growth.

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bp has agreed to sell its 50% interest in the Sunrise oil sands project in Alberta, Canada, to Calgary-based Cenovus Energy.

As part of the deal, bp is acquiring Cenovus’s interest in the Bay du Nord project in Eastern Canada, adding to its sizeable acreage position offshore Newfoundland and Labrador.

BP p.l.c. stock is now 3.45% up from its year-to-date (YTD) trading value. BP Stock saw the intraday high of $27.88 and lowest of $27.315 per share. The company’s 52-week high price is 34.30, which means current price is +8.61% above from all time high which was touched on 06/08/22.

Compared to the average trading volume of 12.98M shares, BP reached a trading volume of 10877818 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $37.56 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 2.20. 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.

Credit Suisse have made an estimate for BP p.l.c. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 09, 2022. The new note on the price target was released on March 23, 2022, representing the official price target for BP p.l.c. stock. On February 28, 2022, analysts decreased their price target for BP shares from 31 to 30.

The Average True Range (ATR) for BP p.l.c. is set at 1.03, with the Price to Sales ratio for BP stock in the period of the last 12 months amounting to 0.50. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 11.13. Price to Free Cash Flow for BP in the course of the last twelve months was 7.80 with Quick ratio for the last quarter at 0.90.

How has BP stock performed recently?

BP p.l.c. [BP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.34. With this latest performance, BP shares dropped by -1.92% in over the last four-week period, additionally sinking by -12.15% over the last 6 months – not to mention a rise of 16.59% 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 44.63, with the RSI for the last a single of trading hit 46.79, and the three-weeks RSI is set at 44.20 for BP p.l.c. [BP]. The present Moving Average for the last 50 days of trading for this stock 29.90, while it was recorded at 27.77 for the last single week of trading, and 29.46 for the last 200 days.

BP p.l.c. [BP]: Deeper insight into the 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 1.20.

Earnings analysis for BP p.l.c. [BP]

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 -4.00%.

Insider trade positions for BP p.l.c. [BP]

There are presently around $8,530 million, or 9.40% of BP stock, in the hands of institutional investors. The top three institutional holders of BP stocks are: ARROWSTREET CAPITAL, LIMITED PARTNERSHIP with ownership of 25,565,832, which is approximately 120.153% of the company’s market cap and around 0.50% of the total institutional ownership; STATE STREET CORP, holding 24,438,815 shares of the stock with an approximate value of $673.29 million in BP stocks shares; and FISHER ASSET MANAGEMENT, LLC, currently with $398.6 million in BP stock with ownership of nearly 4.942% of the company’s market capitalization.

471 institutional holders increased their position in BP p.l.c. [NYSE:BP] by around 55,517,839 shares. Additionally, 451 investors decreased positions by around 56,666,160 shares, while 213 investors held positions by with 197,420,968 shares. The mentioned changes placed institutional holdings at 309,604,967 shares, according to the latest SEC report filing. BP stock had 121 new institutional investments in for a total of 11,843,030 shares, while 101 institutional investors sold positions of 4,829,800 shares during the same period.