Janney Montgomery Scott LLC Sells 8,447 Shares of BP p.l.c. (NYSE:BP)

Janney Montgomery Scott LLC trimmed its position in shares of BP p.l.c. (NYSE:BP - Free Report) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 250,259 shares of the oil and gas exploration company's stock after selling 8,447 shares during the quarter. Janney Montgomery Scott LLC's holdings in BP were worth $7,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in BP. Altrius Capital Management Inc lifted its holdings in shares of 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. Wedge Capital Management L L P NC grew its position in shares of 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 last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of BP in the third quarter valued at about $857,000. Kornitzer Capital Management Inc. KS lifted its stake in shares of 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 worth $14,282,000 after acquiring an additional 23,325 shares during the period. Finally, SG Americas Securities LLC increased its position in BP by 860.7% during 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 purchasing an additional 59,546 shares during the period. Institutional investors and hedge funds own 11.01% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BP shares. BNP Paribas cut shares of BP from an "outperform" rating to a "neutral" rating in a research report on Wednesday, October 9th. Royal Bank of Canada reissued a "sector perform" rating on shares of BP in a research report on Tuesday, January 14th. Wells Fargo & Company cut their target price on BP from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 15th. Scotiabank downgraded BP from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $42.00 to $36.00 in a report on Thursday, October 10th. Finally, The Goldman Sachs Group raised shares of BP to a "strong-buy" rating in a research report on Friday, October 11th. Twelve analysts have rated the stock with a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.76.

BP Stock Down 0.2 %

Shares of BP stock traded down $0.05 on Wednesday, hitting $31.11. The stock had a trading volume of 8,064,673 shares, compared to its average volume of 9,498,059. BP p.l.c. has a 12-month low of $27.82 and a 12-month high of $40.40. The stock has a market cap of $83.97 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 2.21 and a beta of 0.64. The business has a 50 day moving average of $30.00 and a 200 day moving average of $31.55. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 0.94.

BP (NYSE:BP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.05. The business had revenue of $47.25 billion for the quarter, compared to analysts' expectations of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The business's revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 earnings per share. As a group, analysts expect that BP p.l.c. will post 3.35 EPS for the current year.

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.