Trust Co. of Toledo NA OH Makes New $87,000 Investment in BP p.l.c. $BP

Trust Co. of Toledo NA OH bought a new position in BP p.l.c. (NYSE:BP) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,900 shares of the oil and gas exploration company’s stock, valued at approximately $87,000.

A number of other institutional investors also recently modified their holdings of BP. Cary Street Partners Investment Advisory LLC raised its stake in shares of BP by 2,250.0% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 940 shares of the oil and gas exploration company’s stock worth $32,000 after acquiring an additional 900 shares during the last quarter. Acima Private Wealth LLC bought a new position in shares of BP in the second quarter worth about $32,000. Missouri Trust & Investment Co raised its stake in shares of BP by 400.0% in the first quarter. Missouri Trust & Investment Co now owns 1,000 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 800 shares during the last quarter. GW&K Investment Management LLC grew its position in shares of BP by 178.0% during the 1st quarter. GW&K Investment Management LLC now owns 1,034 shares of the oil and gas exploration company’s stock worth $35,000 after buying an additional 662 shares during the period. Finally, ORG Partners LLC grew its position in shares of BP by 743.3% during the 2nd quarter. ORG Partners LLC now owns 1,754 shares of the oil and gas exploration company’s stock worth $53,000 after buying an additional 1,546 shares during the period. 11.01% of the stock is owned by institutional investors.

BP Stock Down 2.3%

Shares of NYSE BP opened at $33.52 on Monday. The stock has a market cap of $88.27 billion, a P/E ratio of 159.61, a P/E/G ratio of 1.98 and a beta of 0.54. The firm has a 50 day moving average price of $34.40 and a 200 day moving average price of $31.56. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 1.21. BP p.l.c. has a 52-week low of $25.22 and a 52-week high of $35.88.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, August 5th. The oil and gas exploration company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.22. BP had a net margin of 0.29% and a return on equity of 9.08%. The firm had revenue of $46.63 billion during the quarter, compared to analysts’ expectations of $42.88 billion. During the same quarter in the previous year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts expect that BP p.l.c. will post 3.53 EPS for the current year.

BP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 15th were paid a $0.4942 dividend. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from BP’s previous quarterly dividend of $0.48. This represents a $1.98 dividend on an annualized basis and a yield of 5.9%. BP’s payout ratio is presently 942.86%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BP shares. Wells Fargo & Company lifted their price target on shares of BP from $27.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 26th. DZ Bank upgraded shares of BP from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. TD Cowen lifted their price target on shares of BP from $34.00 to $37.00 and gave the stock a “hold” rating in a research report on Wednesday, August 6th. Berenberg Bank upgraded shares of BP from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 7th. Finally, Melius Research started coverage on shares of BP in a research report on Wednesday, August 20th. They set a “buy” rating and a $66.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.14.

BP Profile

BP p.l.c. provides carbon products and services. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, and integrated gas and power; trading of gas; operation of onshore and offshore wind power, as well as hydrogen and carbon capture and storage facilities; trading and marketing of renewable and non-renewable power; and production of crude oil.