Capital Investment Advisors LLC purchased a new position in shares of BP p.l.c. (NYSE:BP – Get Rating) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,074 shares of the oil and gas exploration company’s stock, valued at approximately $201,000.
Other institutional investors also recently modified their holdings of the company. Turim 21 Investimentos Ltda. acquired a new position in BP in the 1st quarter worth about $30,000. Sterling Investment Advisors Ltd. acquired a new position in BP in the 1st quarter worth about $32,000. GoalVest Advisory LLC increased its holdings in BP by 200.6% in the 2nd quarter. GoalVest Advisory LLC now owns 1,638 shares of the oil and gas exploration company’s stock worth $44,000 after purchasing an additional 1,093 shares in the last quarter. Wellington Shields Capital Management LLC acquired a new position in BP in the 1st quarter worth about $65,000. Finally, Tcwp LLC acquired a new position in BP in the 1st quarter worth about $99,000. Institutional investors and hedge funds own 9.22% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have commented on BP. StockNews.com upgraded BP from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 11th. Wells Fargo & Company reduced their price target on BP from $31.00 to $29.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 3rd. HSBC reduced their price target on BP from GBX 455 ($5.50) to GBX 430 ($5.20) in a research report on Wednesday, July 20th. Piper Sandler upped their price target on BP from $44.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, September 12th. Finally, Morgan Stanley upped their price target on BP from GBX 540 ($6.52) to GBX 566 ($6.84) in a research report on Wednesday, August 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $206.16.
BP Stock Down 0.4 %
BP (NYSE:BP – Get Rating) last announced its quarterly earnings results on Monday, August 1st. The oil and gas exploration company reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.99. The business had revenue of $67.87 billion for the quarter, compared to analyst estimates of $60.85 billion. BP had a positive return on equity of 26.00% and a negative net margin of 5.38%. The company’s quarterly revenue was up 86.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 earnings per share. As a group, research analysts forecast that BP p.l.c. will post 8.39 EPS for the current fiscal year.
BP Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 12th will be paid a $0.3604 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This is an increase from BP’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 4.66%. BP’s dividend payout ratio is -40.57%.
BP Company Profile
BP p.l.c. engages in the energy business worldwide. It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. It produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such as hydrogen and carbon capture and storage.
- Get a free copy of the StockNews.com research report on BP (BP)
- Oracle’s Short-Term Pain Could Be Your Long-Term Gain
- Lucid is Looking Like a Clear EV Winner
- Still Lovin’ It: Investors Keep Visiting McDonald’s
- Did FedEx Just Deliver A Buying Opportunity?
- Autozone Shifts Back Into Rally-Mode, New Highs Are In Sight
Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.