BP p.l.c. $BP Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC reduced its stake in shares of BP p.l.c. (NYSE:BP) by 40.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 123,000 shares of the oil and gas exploration company’s stock after selling 84,615 shares during the quarter. NewEdge Advisors LLC’s holdings in BP were worth $4,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Life Planners acquired a new position in BP during the first quarter worth $39,000. Gill Capital Partners LLC grew its stake in BP by 53.2% in the 2nd quarter. Gill Capital Partners LLC now owns 1,376 shares of the oil and gas exploration company’s stock valued at $51,000 after acquiring an additional 478 shares during the last quarter. Trust Co. of Vermont acquired a new position in BP during the second quarter worth about $73,000. JNBA Financial Advisors lifted its holdings in shares of BP by 2,804.8% in the second quarter. JNBA Financial Advisors now owns 2,440 shares of the oil and gas exploration company’s stock valued at $90,000 after purchasing an additional 2,356 shares in the last quarter. Finally, Root Financial Partners LLC grew its position in shares of BP by 66.8% in the fourth quarter. Root Financial Partners LLC now owns 2,544 shares of the oil and gas exploration company’s stock valued at $88,000 after purchasing an additional 1,019 shares during the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. TD Cowen upped their target price on shares of BP from $40.00 to $41.00 and gave the company a “hold” rating in a report on Thursday, July 16th. Freedom Capital upgraded BP from a “strong sell” rating to a “hold” rating in a report on Thursday, August 6th. Morgan Stanley restated an “overweight” rating on shares of BP in a report on Friday, September 4th. Piper Sandler increased their price target on BP from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Finally, Wall Street Zen upgraded BP from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, BP has a consensus rating of “Moderate Buy” and a consensus target price of $46.59.

BP Trading Down 0.5%

Shares of NYSE BP opened at $45.88 on Tuesday. The stock’s 50 day simple moving average is $42.92 and its 200 day simple moving average is $43.05. The company has a market cap of $120.18 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 0.54 and a beta of 0.15. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. BP p.l.c. has a 12-month low of $32.72 and a 12-month high of $48.27.

BP (NYSE:BP) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.35. BP had a return on equity of 16.63% and a net margin of 2.49%.The business had revenue of $69.11 billion during the quarter, compared to analyst estimates of $57.89 billion. During the same period in the prior year, the company posted $0.90 EPS. The business’s revenue for the quarter was up 106.1% compared to the same quarter last year. Equities research analysts expect that BP p.l.c. will post 6.58 EPS for the current year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 14th will be issued a dividend of $0.5196 per share. The ex-dividend date is Friday, August 14th. This is a positive change from BP’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.5%. BP’s payout ratio is 100.00%.

About BP

BP p.l.c. is a global integrated energy company headquartered in London, England. Its operations span the energy value chain, including exploration and production of oil and natural gas, refining, fuel marketing, energy trading and transportation. BP also produces and markets lubricants through its Castrol brand and supplies fuels through retail networks operating under brands such as BP, Aral and ampm.

The company has operations and business relationships across multiple regions, including the Americas, Europe, the Middle East, Africa and Asia-Pacific.