Bank of New York Mellon Corp Buys 110,019 Shares of BP p.l.c. (NYSE:BP)

Bank of New York Mellon Corp boosted its stake in shares of BP p.l.c. (NYSE:BP - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 474,957 shares of the oil and gas exploration company's stock after buying an additional 110,019 shares during the quarter. Bank of New York Mellon Corp's holdings in BP were worth $14,040,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wedge Capital Management L L P NC grew its position in BP by 2.2% during the fourth 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 period. Kornitzer Capital Management Inc. KS boosted its position in BP by 2.3% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 465,242 shares of the oil and gas exploration company's stock worth $13,753,000 after purchasing an additional 10,262 shares during the period. Captrust Financial Advisors boosted its position in BP by 1.2% during 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 purchasing an additional 5,150 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in BP by 3.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 343,880 shares of the oil and gas exploration company's stock worth $10,795,000 after purchasing an additional 12,700 shares during the period. Finally, Altrius Capital Management Inc boosted its position in BP by 9.9% during the third quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company's stock worth $7,338,000 after purchasing an additional 20,976 shares during the period. Institutional investors own 11.01% of the company's stock.

BP Price Performance

Shares of BP stock traded up $1.05 during trading hours on Friday, hitting $33.42. 12,619,415 shares of the company's stock were exchanged, compared to its average volume of 8,928,412. The company has a market capitalization of $89.48 billion, a PE ratio of 417.85, a PEG ratio of 1.12 and a beta of 0.58. BP p.l.c. has a 12-month low of $27.82 and a 12-month high of $40.40. The business's 50 day simple moving average is $32.39 and its 200-day simple moving average is $31.24. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70.

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

BP Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 5.74%. The ex-dividend date is Friday, February 21st. BP's dividend payout ratio is 2,375.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BP. JPMorgan Chase & Co. upgraded shares of BP from an "underweight" rating to a "neutral" rating in a research report on Thursday, February 20th. DZ Bank lowered shares of BP from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Morgan Stanley lowered their price target on shares of BP from $34.70 to $31.80 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Piper Sandler lowered their price target on shares of BP from $36.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. Finally, StockNews.com downgraded shares of BP from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, three have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $38.26.

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.