Following these proceedings, Berenberg downgraded its BP p.l.c. [BP] rating to a Hold from a a Buy in a research note published on Tuesday. A number of analysts have revised their coverage, including TD Securities’s analysts, who increased its forecast for the stock in early February from “a Hold” to “a Buy”. Scotiabank also remained covering BP and has increased its forecast on January 17, 2023 with a “Sector outperform” recommendation from previously “Sector perform” rating. Citigroup revised its rating on November 22, 2022. It rated BP as “a Buy” which previously was an “a Neutral”.
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Price Performance Review of BP
On Tuesday, BP p.l.c. [NYSE:BP] saw its stock fall -1.54% to $39.60. On the same session, the stock had its day’s lowest price of $39.58, but rose to a high of $40.53. Over the last five days, the stock has lost -0.43%. BP p.l.c. shares have risen nearly 13.37% since the year began. Nevertheless, the stocks have risen 28.86% over the past one year. While a 52-week high of $41.38 was reached on 02/14/23, a 52-week low of $25.36 was recorded on 01/04/23. SMA at 50 days reached $36.49, while 200 days put it at $32.50. A total of 8.48 million shares were traded, compared to the trading of 6.98 million shares in the previous session.
Levels Of Support And Resistance For BP Stock
The 24-hour chart illustrates a support level at 39.28, which if violated will result in even more drops to 38.95. On the upside, there is a resistance level at 40.23. A further resistance level may holdings at 40.85. The Relative Strength Index (RSI) on the 14-day chart is 59.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.18, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.66%. Stochastics %K at 67.11% indicates the stock is a holding.
How much short interest is there in BP p.l.c.?
A steep rise in short interest was recorded in BP p.l.c. stocks on Jan 30, 2023, dropping by -2.07 million shares to a total of 10.2 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 12.27 million shares. There was a decline of -20.29%, which implies that there is a negative sentiment for the stock.
BP p.l.c. [BP] – Who Are The Largest Shareholders?
In filings from Arrowstreet Capital LP, it is revealed that the company now owns 25,593,846 shares, or roughly 0.85% of the outstanding BP shares. In other words, the investor’s shares have fallen by -1,466,545 from its previous 13-F filing of 27060391.0. Additionally, SSgA Funds Management, Inc. decreased -5.40% of its stake after which the total value it holdings stand at $831,130,583, while Fisher Asset Management LLC added 3.42% of its stake to hold $600.32 million in the firm. Over the last quarter, Dimensional Fund Advisors LP purchased 666,132 shares of BP p.l.c., while Wellington Management Co. LLP bought 1,643,847 shares. At present, Two Sigma Advisers LP is holding 7,098,626 shares valued at $257.18 million. BlackRock Investment Management L owned 7,025,598 shares of the company at the time of its most recent 13F filing, worth $254.54 million.
According to FactSet, BP p.l.c.’s share price will average $44.38 in the next year, based on opinions of analysts polled by the firm. This is up nearly 5.42 percent from its previous closing price of $40.22. Analysts expect BP p.l.c. stock to reach the higher price of $72.16, while the lowest price estimate is $37.48. However, 31 analysts have rated BP stock as an Overweight in their predictions for 2023.