Beaumont Financial Advisors LLC Lowers Position in BP p.l.c. (NYSE:BP)

Beaumont Financial Advisors LLC reduced its stake in shares of BP p.l.c. (NYSE:BP - Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 386,296 shares of the oil and gas exploration company's stock after selling 20,599 shares during the period. Beaumont Financial Advisors LLC's holdings in BP were worth $12,126,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. OLD Mission Capital LLC grew its stake in shares of 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 valued at $23,233,000 after buying an additional 388,931 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of BP by 26.7% in the 2nd 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 buying an additional 132,750 shares during the period. Rothschild Investment LLC acquired a new stake in shares of BP in the 2nd quarter valued at about $2,620,000. SG Americas Securities LLC grew 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 buying an additional 59,546 shares during the period. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of BP in the 4th quarter valued at about $2,006,000. 11.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BP has been the subject of a number of analyst reports. Barclays upgraded BP to a "strong-buy" rating in a research note on Wednesday, July 31st. Piper Sandler restated a "neutral" rating and issued a $43.00 target price on shares of BP in a research note on Wednesday, July 17th. Morgan Stanley downgraded BP from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $49.90 to $41.50 in a research note on Monday, July 15th. Wells Fargo & Company cut their target price on BP from $39.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Friday, September 27th. Finally, Hsbc Global Res upgraded BP to a "hold" rating in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, BP currently has an average rating of "Moderate Buy" and an average target price of $42.98.

BP Price Performance

NYSE:BP traded down $0.23 during midday trading on Friday, hitting $32.11. The company had a trading volume of 7,445,734 shares, compared to its average volume of 8,372,968. BP p.l.c. has a 52-week low of $30.52 and a 52-week high of $40.84. The stock's fifty day moving average price is $32.87 and its 200-day moving average price is $35.54. The company has a market capitalization of $8.84 billion, a PE ratio of 12.64, a P/E/G ratio of 4.25 and a beta of 0.64. The company has a quick ratio of 0.95, a current ratio of 1.24 and a debt-to-equity ratio of 0.62.

BP (NYSE:BP - Get Free Report) last announced its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.08. BP had a net margin of 3.60% and a return on equity of 13.83%. The company 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 earned $0.89 earnings per share. The firm's quarterly revenue was down 2.6% compared to the same quarter last year. As a group, research analysts expect that BP p.l.c. will post 3.76 earnings per share for the current year.

BP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 9th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 5.98%. This is an increase from BP's previous quarterly dividend of $0.44. The ex-dividend date was Friday, August 9th. BP's dividend payout ratio is 74.80%.

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.