Kestra Advisory Services LLC Purchases 37,175 Shares of BP p.l.c. $BP

Kestra Advisory Services LLC increased its position in shares of BP p.l.c. (NYSE:BP) by 25.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,424 shares of the oil and gas exploration company’s stock after purchasing an additional 37,175 shares during the period. Kestra Advisory Services LLC’s holdings in BP were worth $7,981,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Curry Webb Wealth Management LLC acquired a new stake in shares of BP during the 3rd quarter worth about $33,000. Security National Bank of Sioux City Iowa IA purchased a new stake in shares of BP during the 2nd quarter worth approximately $36,000. Financial Network Wealth Advisors LLC lifted its position in shares of BP by 100.2% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 991 shares of the oil and gas exploration company’s stock worth $44,000 after buying an additional 496 shares during the last quarter. Sawyer & Company Inc acquired a new position in shares of BP in the 3rd quarter valued at $49,000. Finally, Gill Capital Partners LLC grew its position in shares of 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 buying an additional 478 shares during the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Zacks Research upgraded BP from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 8th. JPMorgan Chase & Co. upgraded BP from a “neutral” rating to an “overweight” rating in a research note on Wednesday, September 23rd. Morgan Stanley restated an “overweight” rating on shares of BP in a research report on Friday, September 4th. Wall Street Zen upgraded shares of BP from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, Citigroup began coverage on shares of BP in a research note on Thursday, October 1st. They set a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $49.90.

BP Price Performance

BP stock opened at $44.56 on Wednesday. The company has a market cap of $116.74 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 0.34 and a beta of 0.16. BP p.l.c. has a one year low of $33.22 and a one year high of $51.49. The business has a fifty day moving average of $46.32 and a two-hundred day moving average of $43.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.99 and a current ratio of 1.29.

BP (NYSE:BP) last posted its quarterly earnings results on Friday, October 30th. The oil and gas exploration company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.66 by $0.60. BP had a net margin of 3.74% and a return on equity of 24.67%. The business had revenue of $68.40 billion for the quarter, compared to analysts’ expectations of $63.14 billion. During the same period in the prior year, the company posted $0.85 EPS. The business’s revenue for the quarter was up 41.8% on a year-over-year basis. As a group, analysts predict that BP p.l.c. will post 8.46 earnings per share for the current fiscal year.

BP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 13th will be issued a $0.5196 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a yield of 4.7%. BP’s dividend payout ratio (DPR) is 60.59%.

Key Stories Impacting BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP completed the sale of a stake in Castrol for about $6 billion. The deal advances BP’s portfolio simplification plans and provides funds that could support debt reduction, a potential balance-sheet positive. BP Completes $6B Castrol Stake Sale: A Boost to Its Balance Sheet?
• Positive Sentiment: Options activity was notably bullish: investors bought 31,614 BP call options on Tuesday, about 76% above the typical daily volume. This signals increased demand for upside exposure, though options trading does not guarantee a share-price move.
• Neutral Sentiment: BP is set to lead a substantial seismic survey in Namibia after completing a farm-in deal with Eco (Atlantic) Oil & Gas. The program could help identify future exploration opportunities, but any commercial benefit remains uncertain and would depend on results and further development. BP to launch big seismic shoot in Namibia after farm-in deal completes
• Neutral Sentiment: BP agreed to exit its Indonesian fuel-retail joint venture by selling its 49.9% stake to partner AKR for about $14.2 million. The move fits its portfolio-simplification efforts, but the reported sale proceeds are modest and the exit also gives up exposure to that retail business. BP sells 49.9% stake in Indonesian petrol station venture, partner firm says

About BP

BP p.l.c. is a global integrated energy company headquartered in London, United Kingdom. Its operations span the exploration, development and production of oil and natural gas, as well as the processing, refining, transportation and marketing of energy products. Through its businesses, BP supplies fuels for road transportation, aviation and marine use, along with lubricants marketed under the Castrol brand. The company also operates retail fuel and convenience locations and provides energy products and services to commercial and industrial customers.