- The stock price has increased by more than 23% in the last year.
- The current CEO of the company is Murray Auchincloss.
BP plc is a British oil and gas giant that has operations in over 70 countries and employs more than 70,000 people. It is one of the world’s largest energy firms and one of the six oil and gas “supermajors”. BP plc’s four main business segments are upstream, downstream, Rosneft, and other businesses and corporate. The downstream segment refines, markets, and trades oil products, and also makes and sells petrochemicals. The Rosneft segment is a strategic alliance with Rosneft, the largest listed oil company in Russia.
BP has an average trading volume of 7.27 Million in the market. The company paid a dividend yield of 3.86% in 2022. The stock’s market capitalization is $110.624 Billion. The company’s net cash was $28.91 Billion as of Q2 2023, which reflected a decrease of -12.7% year-on-year.
BP stock has a beta of 0.6 which means that the stock moves relatively less than the whole market. The company has a debt/equity ratio of 86.29% and the PE ratio of the company is 6.46 which indicates that the buyers are ready to pay higher prices for the stock.
BP p.l.c. Performance Analysis
BP’s total revenue was $241.39 Billion in 2022, and its gross profit was 22% of that amount. The company had a net income of -1%, which means that it lost $2.49 Billion in 2022. The company’s debt also slightly decreased from $69.79 Billion in 2021 to $55.49 Billion in 2022.
BP Share Technical Analysis
s by writer11_gsm on TradingView.com
The stock price has been rising steadily from the lower levels in the weekly timeframe. It is creating a bullish market structure and making higher highs. The price’s movement has formed a rising wedge pattern and the stock is still inside it. The price may continue to rise to higher levels.
The BP stock price has been increasing from the lower levels and the 50-day and 200-day EMAs are also pointing to a bullish momentum. This has resulted in a golden cross on the charts. This signals more bullishness in the market.
The RSI is bullish on the charts as it has hit the overbought zone and is currently trading above the 50-level along with the 14-day SMA, which indicates further bullishness in the stock.
Technical Overview of BP Stock
The charts for BP plc display a predominance of bullish signals, notably giving a buy signal. Furthermore, analysts maintain an optimistic outlook for the stock, citing the company’s robust fundamentals as a key driver of confidence in its performance.
Conclusion
BP Plc stock price is in an upward trend, making higher highs. The EMA and the RSI are also supporting this trend. The company’s fundamental data is also favorable. Hence, the BP stock price may rise in the future unless it falls below the rising wedge pattern.
Technical Levels
- Support levels for the BP share are – $15.00 and $26.00
- Resistance levels for the BP share are – $41.00 and $53.00
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss