Arkadios Wealth Advisors Boosts Holdings in BP p.l.c. (NYSE:BP)

Arkadios Wealth Advisors raised its position in BP p.l.c. (NYSE:BP - Free Report) by 25.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,513 shares of the oil and gas exploration company's stock after buying an additional 10,385 shares during the period. Arkadios Wealth Advisors' holdings in BP were worth $1,860,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. PSquared Asset Management AG purchased a new stake in BP in the fourth quarter worth $50,315,000. OLD Mission Capital LLC increased its holdings in BP by 145.5% in the 4th quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company's stock worth $23,233,000 after acquiring an additional 388,931 shares during the last quarter. Beaumont Financial Advisors LLC bought a new stake in BP in the 1st quarter valued at about $6,682,000. Wedge Capital Management L L P NC lifted its holdings in BP by 26.7% during the second quarter. Wedge Capital Management L L P NC now owns 629,568 shares of the oil and gas exploration company's stock valued at $22,727,000 after purchasing an additional 132,750 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of BP by 13.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 487,648 shares of the oil and gas exploration company's stock worth $17,263,000 after purchasing an additional 59,379 shares in the last quarter. 11.01% of the stock is owned by hedge funds and other institutional investors.

BP Stock Up 0.7 %

Shares of BP stock traded up $0.24 on Thursday, reaching $34.47. The company's stock had a trading volume of 4,662,163 shares, compared to its average volume of 8,307,495. The company has a market capitalization of $95.49 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 2.05 and a beta of 0.65. The company has a quick ratio of 0.94, a current ratio of 1.24 and a debt-to-equity ratio of 0.62. BP p.l.c. has a 52 week low of $32.51 and a 52 week high of $40.84. The firm's fifty day simple moving average is $34.89 and its two-hundred day simple moving average is $36.38.

BP (NYSE:BP - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.08. BP had a net margin of 3.60% and a return on equity of 13.83%. The firm had revenue of $47.30 billion during the quarter, compared to analyst estimates of $55.82 billion. During the same period in the previous year, the business posted $0.89 earnings per share. The business's revenue for the quarter was down 2.6% on a year-over-year basis. Equities analysts anticipate that BP p.l.c. will post 4.24 earnings per share for the current year.

BP Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 9th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 5.57%. This is a positive change from BP's previous quarterly dividend of $0.44. BP's dividend payout ratio is presently 59.56%.

Analyst Ratings Changes

A number of research firms recently issued reports on BP. Wells Fargo & Company decreased their price objective on BP from $41.00 to $39.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 31st. UBS Group raised shares of BP to a "strong-buy" rating in a report on Tuesday, July 30th. Evercore ISI upgraded BP to a "strong-buy" rating in a research report on Wednesday, July 31st. HSBC lowered shares of BP from a "buy" rating to a "hold" rating in a report on Thursday, August 8th. Finally, Scotiabank dropped their target price on BP from $47.00 to $42.00 and set a "sector outperform" rating for the company in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $44.23.

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.