BP (BP, Financial) is experiencing significant bearish sentiment, evidenced by the trading activity in its options market. An unexpected volume of 12,178 put options has been recorded, surpassing typical activity by four times. This spike is primarily concentrated in the 5/2 weekly 27 puts and the 5/9 weekly 28.5 puts, with these two strikes alone accounting for roughly 7,500 contracts.
The Put/Call Ratio currently stands at a notable 4.08, indicating bearish sentiment, as traders are predominantly purchasing puts over calls. Additionally, the at-the-money implied volatility (ATM IV) has risen by more than two points today, reflecting heightened expectations of potential price movement. Investors are keenly watching these developments as BP is scheduled to report its earnings on April 29th, which could provide further direction for the stock's movement.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 15 analysts, the average target price for BP PLC (BP, Financial) is $35.02 with a high estimate of $44.00 and a low estimate of $27.00. The average target implies an upside of 21.72% from the current price of $28.77. More detailed estimate data can be found on the BP PLC (BP) Forecast page.
Based on the consensus recommendation from 18 brokerage firms, BP PLC's (BP, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for BP PLC (BP, Financial) in one year is $35.51, suggesting a upside of 23.43% from the current price of $28.77. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the BP PLC (BP) Summary page.
