TIAA Trust National Association Lowers Stock Holdings in BP p.l.c. (NYSE:BP)

TIAA Trust National Association trimmed its holdings in BP p.l.c. (NYSE:BP) by 11.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,278 shares of the oil and gas exploration company’s stock after selling 2,446 shares during the period. TIAA Trust National Association’s holdings in BP were worth $570,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Butensky & Cohen Financial Security Inc. grew its holdings in BP by 0.3% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 129,215 shares of the oil and gas exploration company’s stock valued at $3,820,000 after purchasing an additional 358 shares during the period. Sunbelt Securities Inc. boosted its holdings in shares of BP by 3.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 11,459 shares of the oil and gas exploration company’s stock valued at $360,000 after purchasing an additional 415 shares during the last quarter. Atlas Brown Inc. increased its holdings in shares of BP by 1.2% during the 4th quarter. Atlas Brown Inc. now owns 37,338 shares of the oil and gas exploration company’s stock worth $1,104,000 after buying an additional 437 shares during the last quarter. Horizon Investments LLC raised its position in shares of BP by 3.3% in the 4th quarter. Horizon Investments LLC now owns 19,753 shares of the oil and gas exploration company’s stock worth $584,000 after buying an additional 640 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in BP by 41.0% in the fourth quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock valued at $66,000 after acquiring an additional 646 shares during the last quarter. Hedge funds and other institutional investors own 11.01% of the company’s stock.

BP Trading Up 0.0 %

Shares of BP opened at $34.43 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.97 and a current ratio of 1.25. BP p.l.c. has a one year low of $27.82 and a one year high of $40.40. The stock has a 50-day moving average price of $32.93 and a 200 day moving average price of $31.32. The company has a market capitalization of $93.48 billion, a P/E ratio of 430.48, a P/E/G ratio of 1.12 and a beta of 0.58.

BP (NYSE:BP) 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 analysts’ consensus estimates of $0.56 by ($0.12). BP had a return on equity of 10.96% and a net margin of 0.20%. Sell-side analysts forecast that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.92 annualized dividend and a dividend yield of 5.58%. BP’s payout ratio is 2,375.00%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BP. StockNews.com lowered BP from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Wolfe Research set a $50.00 price target on shares of BP in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised shares of BP from an “underweight” rating to a “neutral” rating in a research report on Thursday, February 20th. Piper Sandler decreased their price target 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. Finally, Wells Fargo & Company raised their price objective on BP from $30.00 to $37.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating, two have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.48.

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.