Creative Financial Designs Inc. ADV Grows Stake in BP p.l.c. (NYSE:BP)

Creative Financial Designs Inc. ADV lifted its stake in BP p.l.c. (NYSE:BP - Free Report) by 427.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,167 shares of the oil and gas exploration company's stock after purchasing an additional 10,671 shares during the period. Creative Financial Designs Inc. ADV's holdings in BP were worth $389,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BP. Bank of New York Mellon Corp increased its holdings in BP by 30.1% during the fourth quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company's stock valued at $14,040,000 after buying an additional 110,019 shares during the period. SVB Wealth LLC acquired a new stake in BP in the fourth quarter valued at approximately $588,000. Avior Wealth Management LLC boosted its stake in BP by 83.3% in the fourth quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company's stock valued at $1,577,000 after acquiring an additional 24,252 shares in the last quarter. Altrius Capital Management Inc boosted its stake in BP by 16.6% in the fourth quarter. Altrius Capital Management Inc now owns 272,527 shares of the oil and gas exploration company's stock valued at $8,056,000 after acquiring an additional 38,751 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in BP by 2.2% in 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 acquiring an additional 14,436 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

BP has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on shares of BP from $34.70 to $31.80 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. TD Cowen downgraded shares of BP from a "buy" rating to a "hold" rating and set a $40.00 target price for the company. in a research note on Wednesday. TD Securities reiterated a "hold" rating and set a $36.00 price objective (down from $40.00) on shares of BP in a research note on Wednesday. Piper Sandler lowered their price objective on shares of BP from $36.00 to $32.00 and set a "neutral" rating for the company in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. upgraded shares of BP from an "underweight" rating to a "neutral" rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $37.48.

BP Stock Performance

NYSE BP traded up $0.13 on Thursday, reaching $34.74. 15,324,299 shares of the company's stock traded hands, compared to its average volume of 9,007,434. 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 debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.25. The stock has a 50 day moving average price of $32.56 and a 200-day moving average price of $31.24. The firm has a market cap of $93.02 billion, a price-to-earnings ratio of 434.52, a P/E/G ratio of 1.12 and a beta of 0.58.

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

BP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, February 21st will be issued a $0.48 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.92 dividend on an annualized basis and a yield of 5.53%. BP's payout ratio 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.