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


BP p.l.c. (NYSE:BP) finished Thursday with an addition of $0.27 to close at $30.79, an upside of 0.88 percent. An average of 7,378,000 shares of common stock have been traded in the last five days. There was a fall of -$0.71 in the past week, and it reached a new high 23 times over the past 12 months. The last 20 days have seen an average of 9,068,800 shares traded, while the 50-day average volume stands at 10,271,308.

BP stock has decreased by -5.41% in the last month. The company shares reached their 1-month lowest point of $30.12 on 08/31/22. With the stock rallying to its 52-week high on 06/08/22, shares of the company touched a low of $25.33 and a high of $34.30 in 52 weeks. It has reached a new high 18 times so far this year and achieved 15.62% or $4.16 in price. In spite of this, the price is down -10.23% from the 52-week high.

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Valuation Metrics

BP p.l.c. (BP) stock’s beta is 0.70. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.48, the price-to-book (PB) ratio at 1.49, and the price-to-cash flow ratio at 6.05.

The company’s most recent quarterly dividend payment was $0.3604 a share, representing a up of 10.01% from $0.3276 last year. Its latest increase dividend $0.0328 reported on Wednesday August 3 2022.

Financial Health

The quick ratio of BP p.l.c. for the three months ended June 29 was 0.80, and the current ratio was 1.20, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.79 and a total debt to equity ratio of 0.91 for the quarter ending June 29. BP p.l.c.’s EBITDA margin for the year ending June 29 is 16.40%, while its operating margin for the same period stands at -1.00%. Its gross profit as reported stood at $44.12 billion compared to revenue of $164.19 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 -3.90%.

Earnings Surprise

For the three-month period that ended June 29, BP p.l.c. had $901.0 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $7.57 billion in the quarter, while revenues were grew 368.41%. The analyst consensus anticipated BP p.l.c.’s latest quarter earnings to come in at $2.13 per share, but it turned out to be $2.61, a 22.50% surprise. For the quarter, EBITDA amounted to $18.19 billion.

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 22 September was 43.66%, suggesting the stock is Neutral, with historical volatility in this time frame at 18.46%.

As of today, BP’s price is $30.84 -2.25% or -$0.71 from its 5-day moving average. BP is currently trading -4.65% lower than its 20-day SMA and +7.21% higher than its 100-day SMA. However, the stock’s current price level is +13.99% above the SMA50 and +12.66% above the SMA200.

The stochastic %K and %D were 26.36% and 30.10%, respectively, and the average true range (ATR) was 0.74. With the 14-day stochastic at 26.52% and the average true range at 0.76, the RSI (14) stands at 47.28%. The stock has reached -0.53 on the 9-day MACD Oscillator while the 14-day reading was at -0.45.

Analyst Ratings

Credit Suisse launched coverage on BP p.l.c. (NYSE: BP) in its analyst report released on June 09, 2022. The firm assigned the stock a Neutral rating.


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