BP p.l.c. [BP] Stock trading around $34.10 per share: What’s Next?

BP p.l.c. [NYSE: BP] closed the trading session at $34.10 on 12/12/22. The day’s price range saw the stock hit a low of $33.74, while the highest price level was $34.25. The company report on October 17, 2022 that Archaea Energy to be Acquired by bp for Approximately $4.1 Billion.


Will You Miss Out On This Growth Stock Boom?

A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.

And this is just one of our 5 Best Growth Stocks To Own For 2023.

Sponsored


Archaea Energy Inc. (“Archaea”) (NYSE: LFG), an industry-leading renewable natural gas (“RNG”) company, today announced that it has agreed to be acquired by bp (NYSE: BP) for approximately $26 per Archaea Class A and Class B share in cash, or a total enterprise value of approximately $4.1 billion, including approximately $800 million of net debt. The cash consideration represents an approximately 38 percent premium to Archaea’s volume weighted average share price for the 30 days ending October 14, 2022.

Nick Stork, Chief Executive Officer and Co-Founder of Archaea, said, “Archaea was founded with a mission to build the world’s leading RNG development company to reduce global emissions and make multi-generational sustainability impacts. In a very short period of time, we have rapidly become a leading RNG platform in the U.S., and today’s announcement will further enable this business to realize its full potential. bp is a world-class partner and a strong fit for Archaea, with a strategic focus on bioenergy and an operational history in the RNG value chain that is fully aligned with ours and our partners’. We are excited to join them in our mission to increase the role of RNG in helping customers reach their long-term climate goals, and I look forward to our hard-working team joining the bp organization to help achieve their bioenergy objectives. I am incredibly proud of our employees at Archaea who have driven this tremendous value creation and will continue to push forward Archaea’s drive to foster clean energy growth and promote domestic energy reliance.”.

The stocks have a year to date performance of 28.05 percent and weekly performance of -2.57 percent. The stock has been moved at 9.22 percent over the last six months. The stock has performed 3.49 percent around the most recent 30 days and changed 7.33 percent over the most recent 3-months.

If compared to the average trading volume of 9.98M shares, BP reached to a volume of 5880894 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $38.47 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 2.40. 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.

Citigroup have made an estimate for BP p.l.c. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 22, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $31 to $36. The new note on the price target was released on November 07, 2022, representing the official price target for BP p.l.c. stock.

The Average True Range (ATR) for BP p.l.c. is set at 0.81, with the Price to Sales ratio for BP stock in the period of the last 12 months amounting to 0.47. The Price to Book ratio for the last quarter was 1.85, with the Price to Cash per share for the same quarter was set at 9.71. Price to Free Cash Flow for BP in the course of the last twelve months was 5.78 with Quick ratio for the last quarter at 0.80.

BP stock trade performance evaluation

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 -2.57. With this latest performance, BP shares gained by 3.49% in over the last four-week period, additionally plugging by 9.22% over the last 6 months – not to mention a rise of 24.41% 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 50.75, with the RSI for the last a single of trading hit 46.61, and the three-weeks RSI is set at 52.96 for BP p.l.c. [BP]. The present Moving Average for the last 50 days of trading for this stock 32.94, while it was recorded at 34.00 for the last single week of trading, and 30.77 for the last 200 days.

BP p.l.c. [BP]: An insightful look at the core fundamentals

BP p.l.c.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 1.00.

Earnings per share (EPS) analysis for BP p.l.c. [BP] stock

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%.

BP p.l.c. [BP]: Insider Ownership positions

There are presently around $10,044 million, or 9.80% 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 27,060,391, which is approximately 2.231% of the company’s market cap and around 0.50% of the total institutional ownership; STATE STREET CORP, holding 24,249,517 shares of the stock with an approximate value of $826.91 million in BP stocks shares; and FISHER ASSET MANAGEMENT, LLC, currently with $546.35 million in BP stock with ownership of nearly 4.801% of the company’s market capitalization.

416 institutional holders increased their position in BP p.l.c. [NYSE:BP] by around 26,383,628 shares. Additionally, 453 investors decreased positions by around 32,552,710 shares, while 220 investors held positions by with 235,598,548 shares. The mentioned changes placed institutional holdings at 294,534,886 shares, according to the latest SEC report filing. BP stock had 80 new institutional investments in for a total of 5,373,455 shares, while 77 institutional investors sold positions of 4,511,341 shares during the same period.

LEAVE A REPLY

Please enter your comment!
Please enter your name here