Sunday, June 26, 2022

Investing in BP (BP p.l.c.) Is Getting More Attractive

Credit Suisse initiated its BP p.l.c. [BP] rating to a Neutral in a research note published on Tuesday. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in late March from “an Equal-weight” to “an Overweight”. BofA Securities also remained covering BP and has increased its forecast on March 08, 2022 with a “Neutral” recommendation from previously “an Underperform” rating. Cowen maintained its rating on February 28, 2022. It rated BP as “a Market perform”.

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Price Performance Review of BP

On Tuesday, BP p.l.c. [NYSE:BP] saw its stock jump 4.90% to $29.12. On the same session, the stock had its day’s lowest price of $28.82, but rose to a high of $29.27. Over the last five days, the stock has lost -6.73%. BP p.l.c. shares have risen nearly 9.35% since the year began. Nevertheless, the stocks have risen 8.09% over the past one year. While a 52-week high of $34.30 was reached on 06/08/22, a 52-week low of $22.64 was recorded on 01/03/22. SMA at 50 days reached $31.05, while 200 days put it at $29.26. A total of 13.94 million shares were traded, compared to the trading of 15.95 million shares in the previous session.

Levels Of Support And Resistance For BP Stock

The 24-hour chart illustrates a support level at 28.87, which if violated will result in even more drops to 28.62. On the upside, there is a resistance level at 29.32. A further resistance level may holdings at 29.52. The Relative Strength Index (RSI) on the 14-day chart is 38.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.37%. Stochastics %K at 7.92% indicates the stock is a buying.

BP p.l.c. [BP] – Who Are The Largest Shareholders?

In filings from Arrowstreet Capital LP, it is revealed that the company now owns 25,565,832 shares, or roughly 0.79% of the outstanding BP shares. In other words, the investor’s shares have risen by 13,953,085 from its previous 13-F filing of 11612747.0. Additionally, SSgA Funds Management, Inc. decreased -4.32% of its stake after which the total value it holdings stand at $791,084,442, while Fisher Asset Management LLC added 4.94% of its stake to hold $468.33 million in the firm. Over the last quarter, Dimensional Fund Advisors LP purchased 128,011 shares of BP p.l.c., while Franklin Advisers, Inc. bought -951,998 shares. At present, BlackRock Investment Management L is holding 6,510,420 shares valued at $210.74 million. Morgan Stanley Smith Barney LLC owned 6,042,689 shares of the company at the time of its most recent 13F filing, worth $195.6 million.

According to FactSet, BP p.l.c.’s share price will average $37.31 in the next year, based on opinions of analysts polled by the firm. This is up nearly 29.54 percent from its previous closing price of $27.76. Analysts expect BP p.l.c. stock to reach the higher price of $50.42, while the lowest price estimate is $29.35. However, 30 analysts have rated BP stock as an Overweight in their predictions for 2022.

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