Nikko Asset Management Americas Inc. lowered its stake in shares of BP p.l.c. (NYSE:BP - Free Report) by 13.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,545 shares of the oil and gas exploration company's stock after selling 11,261 shares during the period. Nikko Asset Management Americas Inc.'s holdings in BP were worth $2,144,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in BP during the 3rd quarter valued at about $5,089,000. Bank of New York Mellon Corp grew its stake in BP by 30.1% during the 4th 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 acquiring an additional 110,019 shares in the last quarter. Altrius Capital Management Inc grew its stake in BP by 16.6% during the 4th 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. Integrated Investment Consultants LLC purchased a new stake in BP during the 3rd quarter valued at about $857,000. Finally, Avior Wealth Management LLC grew its stake in BP by 83.3% during the 4th 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. Hedge funds and other institutional investors own 11.01% of the company's stock.
BP Stock Up 0.7 %
BP stock traded up $0.24 during mid-day trading on Wednesday, reaching $34.46. 8,442,417 shares of the company's stock were exchanged, compared to its average volume of 8,947,254. BP p.l.c. has a twelve month low of $27.82 and a twelve month high of $40.40. The company has a fifty day moving average of $32.49 and a 200-day moving average of $31.22. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.70. The company has a market cap of $92.24 billion, a P/E ratio of 430.79, a P/E/G ratio of 1.12 and a beta of 0.58.
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 net margin of 0.20% and a return on equity of 10.96%. Sell-side analysts expect that BP p.l.c. will post 3.53 EPS for the current year.
BP Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 dividend yield of 5.57%. The ex-dividend date of this dividend is Friday, February 21st. BP's dividend payout ratio (DPR) is 2,375.00%.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. Wells Fargo & Company increased their price target on shares of BP from $30.00 to $37.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 12th. TD Securities reissued a "hold" rating and issued a $36.00 price target (down previously from $40.00) on shares of BP in a research note on Wednesday. Morgan Stanley dropped their price target 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 cut shares of BP from a "buy" rating to a "hold" rating and set a $40.00 price target for the company. in a research note on Wednesday. Finally, Raymond James upped their price objective on shares of BP from $36.00 to $37.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, BP has an average rating of "Hold" and a consensus target price of $37.48.
View Our Latest Stock Analysis on BP
BP Profile
(
Free Report)
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.
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