Sanibel Captiva Trust Company Inc. Lowers Stake in BP p.l.c. (NYSE:BP)

Sanibel Captiva Trust Company Inc. lessened its stake in shares of BP p.l.c. (NYSE:BP - Free Report) by 33.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,109 shares of the oil and gas exploration company's stock after selling 20,811 shares during the period. Sanibel Captiva Trust Company Inc.'s holdings in BP were worth $1,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Altrius Capital Management Inc increased its stake 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 acquiring an additional 20,976 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of BP during the 3rd quarter worth about $857,000. Wedge Capital Management L L P NC raised its holdings in BP by 2.2% in 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 period. Kornitzer Capital Management Inc. KS lifted its position in BP by 5.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 454,980 shares of the oil and gas exploration company's stock valued at $14,282,000 after buying an additional 23,325 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of BP by 860.7% in the 3rd quarter. SG Americas Securities LLC now owns 66,464 shares of the oil and gas exploration company's stock valued at $2,086,000 after acquiring an additional 59,546 shares during the period. Hedge funds and other institutional investors own 11.01% of the company's stock.

Wall Street Analyst Weigh In

BP has been the topic of several research analyst reports. Scotiabank downgraded BP from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the company from $42.00 to $36.00 in a report on Thursday, October 10th. BNP Paribas lowered shares of BP from an "outperform" rating to a "neutral" rating in a research note on Wednesday, October 9th. Raymond James upped their target price on shares of BP from $36.00 to $37.00 and gave the stock an "outperform" rating in a research note on Friday. Royal Bank of Canada restated a "sector perform" rating on shares of BP in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company reduced their price objective on BP from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating, five have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $38.76.

BP Stock Down 0.3 %

BP traded down $0.08 on Friday, reaching $31.70. The company's stock had a trading volume of 11,800,313 shares, compared to its average volume of 7,407,338. The company has a market capitalization of $84.70 billion, a price-to-earnings ratio of 33.37, a P/E/G ratio of 2.20 and a beta of 0.64. BP p.l.c. has a fifty-two week low of $27.82 and a fifty-two week high of $40.40. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $29.65 and a two-hundred day moving average of $31.80.

BP (NYSE:BP - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.05. BP had a net margin of 1.36% and a return on equity of 12.91%. The business had revenue of $47.25 billion during the quarter, compared to analysts' expectations of $52.05 billion. During the same quarter in the prior year, the business posted $1.15 EPS. The company's revenue for the quarter was down 11.3% on a year-over-year basis. As a group, analysts forecast that BP p.l.c. will post 3.45 EPS for the current fiscal year.

BP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 8th were given a $0.48 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.06%. BP's dividend payout ratio (DPR) is presently 200.00%.

BP 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.