Bridges Investment Management Inc. boosted its stake in BP plc (NYSE:BP) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,531 shares of the oil and gas exploration company’s stock after buying an additional 1,038 shares during the period. Bridges Investment Management Inc.’s holdings in BP were worth $1,983,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. West Bancorporation Inc. acquired a new position in shares of BP during the fourth quarter valued at $25,000. Sageworth Trust Co acquired a new position in shares of BP during the fourth quarter valued at $31,000. First National Bank of South Miami increased its holdings in shares of BP by 73.2% during the fourth quarter. First National Bank of South Miami now owns 866 shares of the oil and gas exploration company’s stock valued at $33,000 after purchasing an additional 366 shares during the period. Manchester Financial Inc. acquired a new position in shares of BP during the fourth quarter valued at $36,000. Finally, Evolution Wealth Advisors LLC acquired a new position in shares of BP during the fourth quarter valued at $38,000. 10.23% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:BP opened at $24.29 on Thursday. The business’s 50-day moving average price is $30.03 and its 200 day moving average price is $36.05. The firm has a market cap of $75.11 billion, a P/E ratio of 20.24, a PEG ratio of 11.66 and a beta of 0.82. BP plc has a 52-week low of $15.51 and a 52-week high of $45.38. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 0.64.
BP (NYSE:BP) last released its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.11. The firm had revenue of $71.11 billion for the quarter, compared to analyst estimates of $67.44 billion. BP had a return on equity of 9.80% and a net margin of 1.42%. BP’s revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.04 earnings per share. Sell-side analysts expect that BP plc will post 1.27 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 14th will be given a $0.63 dividend. This is a positive change from BP’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 10.37%. BP’s dividend payout ratio (DPR) is 84.75%.
BP has been the topic of a number of research analyst reports. Raymond James lowered their price target on BP from $44.00 to $36.00 and set an “outperform” rating on the stock in a report on Tuesday, March 17th. UBS Group reaffirmed a “buy” rating on shares of BP in a report on Tuesday, March 17th. Jefferies Financial Group lowered BP from a “buy” rating to a “hold” rating in a report on Monday, March 16th. Piper Sandler lowered BP from an “overweight” rating to a “neutral” rating and set a target price on the stock. in a report on Monday, March 9th. Finally, Wells Fargo & Co lowered their target price on BP from $46.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. BP currently has an average rating of “Hold” and an average price target of $42.16.
BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).
Featured Story: Do back-end load funds outperform no-load funds?
Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.