Technicals Say BP p.l.c. (BP) Is A Hold

BP p.l.c. (NYSE:BP) finished Tuesday with an addition of $0.41 to close at $28.42, an upside of 1.46 percent. An average of 13,197,100 shares of common stock have been traded in the last five days. There was a gain of $1.18 in the past week. The last 20 days have seen an average of 12,087,730 shares traded, while the 50-day average volume stands at 10,889,066.

BP stock has increased by 14.69% in the last month. The company shares reached their 1-month lowest point of $24.17 on 09/09/21. With the stock rallying to its 52-week high on 10/05/21, shares of the company touched a low of $14.74 and a high of $28.49 in 52 weeks. In spite of this, the price is down -0.25% from the 52-week high.

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Valuation Metrics

BP p.l.c. (BP) has a trailing price-to-earnings (P/E) ratio of 11.11, which compares with the 18.90 for the broader industry and 18.99 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, BP p.l.c.’s PE ratio has ranged between 1607.08 and 9.023. The stock’s beta is 0.83. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.67, the price-to-book (PB) ratio at 1.22, and the price-to-cash flow ratio at 24.91.

BP p.l.c. pays a $1.29 dividend per share annually. It offers a dividend yield of 4.54%. The company has a payout ratio of 0.00%. The company’s most recent quarterly dividend payment took place on Sep. 24 , and it was $0.3276 a share, representing a up of 3.85 from $0.3150 last year. Its dividend has been increased for the last 1 consecutive years with the latest increase dividend $0.0126 reported on Wednesday August 4 2021. Dividends have grown by -21.25% each year over the last three years.

BP p.l.c. will next go ex-dividend on PLC’s. The next dividend payment BP p.l.c. will make is expected to be $8-Nov.

The quick ratio of BP p.l.c. for the three months ended June 29 was 0.90, and the current ratio was 1.20, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.86 and a total debt to equity ratio of 0.98 for the quarter ending June 29. On the profitability front, the trailing 12-month gross margin is 23.50% against a 5-year average of 7.3%. BP p.l.c.’s EBITDA margin for the year ending June 29 is 3.86%, while its operating margin for the same period stands at 9.40%. Its gross profit as reported stood at $28.21 billion compared to revenue of $183.5 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, BP p.l.c.’s return on assets was 3.20%. For the broader industry, ROE averaged 12.45 over the past year.

Technical Picture

From a technical analysis perspective, let’s take a brief look at BP p.l.c. (BP) price momentum. RSI 9-day as of the close on 05 October was 82.68%, suggesting the stock is Overbought, with historical volatility in this time frame at 12.51%.

As of today, BP’s price is $27.69 +4.33% or $1.18 from its 5-day moving average. BP is currently trading +15.58% higher than its 20-day SMA and +9.77% higher than its 100-day SMA. However, the stock’s current price level is +16.81% above the SMA50 and +29.77% above the SMA200.

The stochastic %K and %D were 90.71% and 87.55%, respectively, and the average true range (ATR) was 0.66. With the 14-day stochastic at 91.53% and the average true range at 0.65, the RSI (14) stands at 75.00%. The stock has reached 0.77 on the 9-day MACD Oscillator while the 14-day reading was at 1.48.

Analyst Ratings

Morgan Stanley upgraded BP p.l.c. (NYSE: BP) to a an Equal-weight rating in its most recent analyst report. Previously, the stock was rated as a an Underweight.The consensus rating for BP p.l.c. (BP) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BP, while 11 suggest investors hold. There are 3 analysts who rate the stock as underweight. The stock is rated overweight by 4 analysts, while 12 others rate it as a “buy”.

What is BP’s price target for the next 12 months?

Analysts predict a range of price targets between $25.29 and $44.31, with a median target of $31.21. Taking a look at these predictions, the average price target given by analysts for BP p.l.c. (BP) stock is $32.53.


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