BP p.l.c. (NYSE:BP) Share Price: Are There Any New Patterns?

In the recent trading session, BP p.l.c. (NYSE:BP) shares gained 0.1% or 0.04 points to close at $38.78 with a thin trading volume of 3.447 million shares. It opened the trading session at $38.62, the shares rose to $38.85 and dropped to $38.47, the range by which the price of stock traded the whole session. The company now has a market cap of $131 billion and currently has 3.39 billion outstanding shares. BP p.l.c. (BP) stock has accumulated 4.67 percent of market value in 21 trading days.

BP stock’s trailing 3-year beta is 0.8, meaning there will be a lower rate of return, although posing a lower risk. The part of a firm’s profit given to each outstanding share of regular stock was $1.41 share in the trailing 52 weeks. The stock’s value surged 2.65 percent year to date (YTD) compared to a decline of -4.82 percent in 52 week’s period. The firm’s shares are still trading -14.54 percent below its 1-year high of $45.38 and 8.55 percent up from 52-week low of $35.73. The average consensus ranking on the company is 2.3, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.

BP p.l.c. (BP) is most likely going to rise 27.69 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $58.82 as 12-month high price target. This represents a whopping 51.68 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $47, which means a return possibility of 21.2 percent in comparison with the closing price of the stock of $38.78 in recent trading session. The lowest price set for the stock is $33.58 which is just above -13.41 percent from BP share’s price at the end of session.

Past records have indicated that shares in BP p.l.c. rose on 18 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of BP’s Q4 earnings on February 04. Analysts are predicting revenue to suffer decline of -10.8 percent to $67.5B in the financial fourth quarter, while EPS will soar by about -34.31 percent to $0.67 per share. In the last quarter, it’s earnings of $0.83 per share came better than the $0.6675, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $75.68B, missing the $78.78B analysts had expected. Earnings are seen to rise by 115 percent this year, 10.73 percent in the coming year and the trend continues by 31.5 percent every year in the next 5 years.

The stock is lingering around the initial support level of $38.64. After this, the following support is at the zone of $38.55. Up until the time the BP stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 55.46 on the daily chart, and this may be a cause for concern. In case the price goes below $38.55 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $38.93 level may cause a pull-back move approaching $39.13 mark.

BP p.l.c. (BP) shares are trading at a P/E ratio of 27.25 times earnings posted in the trailing 12 months. The industry BP deals with has an average P/E of 16.97. Its P/B ratio is standing at 1.3X compared to the 1.51 industry average. It is additionally sporting a 0.46 on the Price-to-Sales ratio, compared to the industry’s P/S average of 0.17. BP p.l.c. has a 15.7% gross profit margin, with its operating margin around 3.4%. Alongside this, the company’s net profit margin currently stands at 1.7%.