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- 1 BP stock price has mostly shown a bullish market trend since the last 1-year.
- 2 In the recent 1-week, BP share price has accumulated bears due to which its weekly price has shown a bearish trend.
BP PLC will soon report its second quarter (Q2) 2022 report, ahead of which the BP stock price is showing slight price volatility. Since the last 1-year, BP share price has shown an over 31% price growth, which dropped down to 3.29% in its year-to-date (YTD) price analysis. In the last 1-month, BP share price rose almost 2%, which shows a recent weekly price decline of over 2%.
BP Stock Price Analysis
On July 19, 2023, Wednesday’s trading session, BP stock opened at $36.15, noted high at $36.50 while low at $36.01. In the intraday trading session, the stock price added $0.36 and rose 1.01%. Notably, since the last one week, bears have shown their dominance due to which the BP share price has dropped 2.09%. However, from the beginning of this week, bulls took over the control and showed their support that drove its price upwards.
According to the data sourced from TradingView, a web-based social network for traders, BP stock price has reached its 100-day moving average with bulls support. The bullish support further took the RSI of stock to follow an upside trend. Moreover, as BP PLC will release its Q2 2023 report in the beginning of August 2023, an increased trading volume activity can be expected.
The 1-year price target set by the analysts is resting at $44.77, which is up over 23% from the recent closing of the BP stock price. Their maximum estimate shows at $78.67 while the minimum estimate is at $39.46. Moreover, in the past 3 months, analysts have already given a “buy” rating to BP PLC.
The Fundamentals of BP PLC
BP PLC (NYSE: BP), an oil industry company, has a market cap of $104.98 Billion, while its net income was $8.22 Billion in its Q1 2023. BP price-to-sales ratio is 0.44 and the company has an Enterprise Value to EBITDA ratio of 2.39. BP dividends are paid quarterly while its last dividend per share was $0.39 and as of now, the Dividend Yield (TTM)% is 4.17%.
BP PLC released its Q1 2023 report on May 2, 2023, that states its earnings per share (EPS) is $1.66 whereas the estimation was $1.38, which accounts for a 20.26% surprise. Also, the revenue for the same period amounts to $56.18 Billion, despite the estimated figure of $56.84 Billion. For the upcoming Q2 2023, the estimated EPS is $1.14, and revenue is expected to reach $52.83 Billion.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
