Russell Investments Group Ltd. trimmed its holdings in shares of BP p.l.c. (NYSE:BP - Free Report) by 42.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,072,766 shares of the oil and gas exploration company's stock after selling 777,253 shares during the period. Russell Investments Group Ltd.'s holdings in BP were worth $31,711,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of 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 worth $14,040,000 after acquiring an additional 110,019 shares during the period. Geode Capital Management LLC raised its position in BP by 217.4% in the 4th quarter. Geode Capital Management LLC now owns 107,282 shares of the oil and gas exploration company's stock valued at $3,171,000 after purchasing an additional 73,478 shares in the last quarter. Altrius Capital Management Inc increased its position in shares of BP by 16.6% in 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 purchasing an additional 38,751 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of 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 worth $1,577,000 after acquiring an additional 24,252 shares in the last quarter. Finally, Cozad Asset Management Inc. boosted its holdings in shares of BP by 92.6% in the 4th quarter. Cozad Asset Management Inc. now owns 43,818 shares of the oil and gas exploration company's stock valued at $1,295,000 after buying an additional 21,064 shares in the last quarter. Institutional investors and hedge funds own 11.01% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised BP from an "underweight" rating to a "neutral" rating in a report on Thursday, February 20th. TD Cowen downgraded BP from a "buy" rating to a "hold" rating and set a $40.00 price objective for the company. in a research report on Wednesday, March 19th. UBS Group downgraded shares of BP from a "buy" rating to a "neutral" rating in a report on Thursday. Royal Bank of Canada reissued a "sector perform" rating on shares of BP in a research report on Tuesday, January 14th. Finally, Piper Sandler dropped their target price on shares of BP from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $36.73.
Get Our Latest Report on BP
BP Stock Up 1.2 %
Shares of BP stock traded up $0.32 on Friday, hitting $26.55. The company had a trading volume of 17,248,290 shares, compared to its average volume of 9,625,975. The firm has a market capitalization of $72.07 billion, a P/E ratio of 331.89, a P/E/G ratio of 1.12 and a beta of 0.41. The stock has a 50-day moving average of $32.43 and a 200-day moving average of $31.08. BP p.l.c. has a twelve month low of $25.22 and a twelve month high of $40.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 0.97.
BP (NYSE:BP - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. Research analysts predict that BP p.l.c. will post 3.53 earnings per share for the current year.
BP Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 21st were issued a dividend of $0.48 per share. The ex-dividend date was Friday, February 21st. This represents a $1.92 annualized dividend and a dividend yield of 7.23%. BP's dividend payout ratio is currently 2,375.00%.
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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