BP p.l.c. [BP] is 15.72% higher this YTD. Is it still time to buy?

BP p.l.c. [NYSE: BP] gained 0.50% or 0.2 points to close at $40.42 with a heavy trading volume of 7705896 shares. The company report on March 6, 2023 that bp Expands Natural Gas Certification to 100% of its U.S. Onshore Upstream Operations.

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bpx energy, bp’s U.S. onshore upstream business, expands MiQ certification to all U.S. onshore facilities in Texas and Louisiana.

Independent certification is occurring for 1.1. billion cubic feet per day (bcf/d) of bp’s U.S. onshore natural gas production and has been third party audited against MiQ’s Standard.

It opened the trading session at $40.23, the shares rose to $40.55 and dropped to $40.105, the range by which the price of stock traded the whole day. The daily chart for BP points out that the company has recorded 32.13% gains over the past six months. However, it is still -59.38% lower than its most recent low trading price.

If we look at the average trading volume of 9.26M shares, BP reached to a volume of 7705896 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $43.78 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.

Berenberg have made an estimate for BP p.l.c. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 23, 2023. The new note on the price target was released on February 07, 2023, representing the official price target for BP p.l.c. stock. Previously, the target price had yet another raise from $37 to $42, while Scotiabank kept a Sector Outperform rating on BP 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 0.51. The Price to Book ratio for the last quarter was 2.19, with the Price to Cash per share for the same quarter was set at 9.80. Price to Free Cash Flow for BP in the course of the last twelve months was 7.55 with Quick ratio for the last quarter at 0.80.

Trading performance analysis for BP stock

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 0.50. With this latest performance, BP shares gained by 14.83% in over the last four-week period, additionally plugging by 32.13% over the last 6 months – not to mention a rise of 40.64% 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 63.77, with the RSI for the last a single of trading hit 63.30, and the three-weeks RSI is set at 63.62 for BP p.l.c. [BP]. The present Moving Average for the last 50 days of trading for this stock 36.99, while it was recorded at 40.09 for the last single week of trading, and 32.69 for the last 200 days.

BP p.l.c. [BP]: A deeper dive into fundamental analysis

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.

BP p.l.c. [BP]: An earnings per share (EPS) analysis

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 -14.00%.

An analysis of insider ownership at BP p.l.c. [BP]

There are presently around $12,329 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 25,593,846, which is approximately -5.42% of the company’s market cap and around 0.50% of the total institutional ownership; STATE STREET CORP, holding 22,940,397 shares of the stock with an approximate value of $927.25 million in BP stocks shares; and FISHER ASSET MANAGEMENT, LLC, currently with $669.75 million in BP stock with ownership of nearly 3.418% of the company’s market capitalization.

Positions in BP p.l.c. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 512 institutional holders increased their position in BP p.l.c. [NYSE:BP] by around 40,533,690 shares. Additionally, 461 investors decreased positions by around 29,441,946 shares, while 218 investors held positions by with 235,048,820 shares. The mentioned changes placed institutional holdings at 305,024,456 shares, according to the latest SEC report filing. BP stock had 187 new institutional investments in for a total of 13,305,925 shares, while 75 institutional investors sold positions of 6,149,832 shares during the same period.


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