BP p.l.c. [BP] Stock trading around $34.32 per share: What’s Next?

BP p.l.c. [NYSE: BP] plunged by -$0.61 during the normal trading session on Tuesday and reaching a high of $35.19 during the day while it closed the day at $34.32. The company report on December 28, 2022 that bp completes acquisition of Archaea Energy.

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Today bp (NYSE: BP) completed its purchase of Archaea Energy Inc., (NYSE: LFG) a leading provider of renewable natural gas (RNG), marking a milestone in the growth of bp’s strategic bioenergy business.

“We see enormous opportunity to grow our bioenergy business by bringing Archaea fully into bp,” said Dave Lawler, chairman and president bp America. “The talent, expertise and passion of their team has let them achieve incredible growth so far, and we’re excited to support the next chapter in line with our strategy.”.

BP p.l.c. stock has also loss -1.97% of its value over the past 7 days. However, BP stock has inclined by 14.02% in the 3 months of the year. Over the past six months meanwhile, it has gained 26.41% and lost -1.75% year-on date.

The market cap for BP stock reached $103.03 billion, with 3.15 billion shares outstanding and 3.00 billion shares in the current float. Compared to the average trading volume of 9.17M shares, BP reached a trading volume of 7961502 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 $38.93 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 0.73, with the Price to Sales ratio for BP stock in the period of the last 12 months amounting to 0.46. The Price to Book ratio for the last quarter was 1.86, with the Price to Cash per share for the same quarter was set at 9.86. Price to Free Cash Flow for BP in the course of the last twelve months was 5.73 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 -1.97. With this latest performance, BP shares dropped by -3.92% in over the last four-week period, additionally plugging by 26.41% over the last 6 months – not to mention a rise of 28.88% 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 49.43, with the RSI for the last a single of trading hit 46.56, and the three-weeks RSI is set at 51.34 for BP p.l.c. [BP]. The present Moving Average for the last 50 days of trading for this stock 34.03, while it was recorded at 34.71 for the last single week of trading, and 31.17 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 $10,075 million, or 9.90% 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 $832.24 million in BP stocks shares; and FISHER ASSET MANAGEMENT, LLC, currently with $549.87 million in BP stock with ownership of nearly 4.801% of the company’s market capitalization.

Positions in BP p.l.c. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 408 institutional holders increased their position in BP p.l.c. [NYSE:BP] by around 26,330,791 shares. Additionally, 452 investors decreased positions by around 31,414,371 shares, while 219 investors held positions by with 235,814,609 shares. The mentioned changes placed institutional holdings at 293,559,771 shares, according to the latest SEC report filing. BP stock had 78 new institutional investments in for a total of 5,324,099 shares, while 81 institutional investors sold positions of 4,531,026 shares during the same period.


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