Price Action Alert: Could BP plc (ADR) See a Reversal After This Very Strong Session?

Price Action Alert: Could BP plc (ADR) See a Reversal After This Very Strong Session?

The stock of BP plc (ADR) (NYSE:BP) is a huge mover today! About 882,004 shares traded hands. BP plc (ADR) (NYSE:BP) has risen 16.79% since March 11, 2016 and is uptrending. It has outperformed by 11.33% the S&P500.
The move comes after 9 months positive chart setup for the $112.93 billion company. It was reported on Oct, 14 by Barchart.com. We have $57.02 PT which if reached, will make NYSE:BP worth $65.50 billion more.

Analysts await BP plc (ADR) (NYSE:BP) to report earnings on October, 25. They expect $0.29 earnings per share, down 51.67% or $0.31 from last year’s $0.6 per share. BP’s profit will be $907.45 million for 31.11 P/E if the $0.29 EPS becomes a reality. After $0.23 actual earnings per share reported by BP plc (ADR) for the previous quarter, Wall Street now forecasts 26.09% EPS growth.

BP plc (ADR) (NYSE:BP) Ratings Coverage

Out of 20 analysts covering BP (NYSE:BP), 13 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 65% are positive. BP has been the topic of 27 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The stock of BP plc (ADR) (NYSE:BP) has “Overweight” rating given on Wednesday, July 29 by JP Morgan. The stock has “Buy” rating given by Evercore on Tuesday, November 3. BMO Capital Markets initiated the shares of BP in a report on Monday, September 28 with “Outperform” rating. The firm earned “Buy” rating on Monday, January 18 by Societe Generale. The firm has “Neutral” rating by Goldman Sachs given on Friday, September 11. Jefferies maintained the stock with “Buy” rating in Wednesday, July 29 report. BNP Paribas maintained the stock with “Neutral” rating in Wednesday, July 29 report. Barclays Capital maintained the stock with “Overweight” rating in Wednesday, July 29 report. The firm earned “Buy” rating on Tuesday, September 15 by Liberum Capital. TheStreet downgraded the shares of BP in a report on Friday, July 24 to “Hold” rating.

According to Zacks Investment Research, “BP p.l.c. is the holding company of one of the world’s largest petroleum and petrochemicals groups. Their main activities are exploration and production of crude oil and natural gas; refining, marketing, supply and transportation; and manufacturing and marketing of petrochemicals. They have a growing activity in gas and power and in solar power generation. BP has well-established operations in Europe, North and South America, Australasia and Africa.”

BP Company Profile

BP p.l.c., incorporated on April 14, 1909, is an integrated gas and oil company. The Firm provides its clients with fuel for transportation, energy for heat and light, lubricants to keep engines moving and the petrochemicals products used to make everyday items as diverse as paints, clothes and packaging. The Firm operates through three divisions: Upstream, Downstream and Rosneft. The Company’s Upstream segment is engaged in oil and natural gas exploration, field development and production, as well as midstream transportation, storage and processing. The Company’s Downstream segment has global manufacturing and marketing operations. Rosneft is an oil company. The Firm has activities in Europe, North and South America, Australasia, Asia and Africa.

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