Kornitzer Capital Management Inc. KS Has $13.75 Million Stake in BP p.l.c. (NYSE:BP)

Kornitzer Capital Management Inc. KS boosted its stake in shares of BP p.l.c. (NYSE:BP - Free Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 465,242 shares of the oil and gas exploration company's stock after purchasing an additional 10,262 shares during the period. Kornitzer Capital Management Inc. KS's holdings in BP were worth $13,753,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC lifted its holdings in shares of BP by 2.2% during the 4th quarter. Wedge Capital Management L L P NC now owns 660,538 shares of the oil and gas exploration company's stock valued at $19,526,000 after buying an additional 14,436 shares during the last quarter. Captrust Financial Advisors grew its position in BP by 1.2% in the third quarter. Captrust Financial Advisors now owns 440,973 shares of the oil and gas exploration company's stock worth $13,842,000 after acquiring an additional 5,150 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of BP by 3.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 343,880 shares of the oil and gas exploration company's stock valued at $10,795,000 after purchasing an additional 12,700 shares in the last quarter. Altrius Capital Management Inc lifted its stake in shares of BP by 9.9% in the 3rd quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company's stock valued at $7,338,000 after purchasing an additional 20,976 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in BP in the third quarter worth $5,089,000. Hedge funds and other institutional investors own 11.01% of the company's stock.

Analysts Set New Price Targets

BP has been the subject of a number of analyst reports. DZ Bank cut BP from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Wells Fargo & Company boosted their target price on BP from $30.00 to $37.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Piper Sandler lowered their price target on BP from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. Raymond James boosted their price objective on shares of BP from $36.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. Finally, StockNews.com lowered shares of BP from a "buy" rating to a "hold" rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $39.64.

BP Stock Performance

Shares of BP traded down $0.79 during trading hours on Friday, reaching $33.87. 12,501,366 shares of the company traded hands, compared to its average volume of 12,351,729. BP p.l.c. has a 1-year low of $27.82 and a 1-year high of $40.40. The stock has a market cap of $90.66 billion, a P/E ratio of 423.37, a price-to-earnings-growth ratio of 1.11 and a beta of 0.64. The stock's fifty day moving average is $31.37 and its 200 day moving average is $31.39. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.25.

BP (NYSE:BP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The oil and gas exploration company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.12). BP had a return on equity of 10.96% and a net margin of 0.20%. Equities research analysts anticipate that BP p.l.c. will post 3.53 earnings per share for the current fiscal year.

BP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 21st will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date is Friday, February 21st. BP's dividend payout ratio (DPR) is 2,375.00%.

BP Company 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.