OLD Mission Capital LLC Sells 121,602 Shares of BP p.l.c. (NYSE:BP)

OLD Mission Capital LLC cut its stake in BP p.l.c. (NYSE:BP) by 39.2% in the fourth quarter, HoldingsChannel reports. The fund owned 188,994 shares of the oil and gas exploration company’s stock after selling 121,602 shares during the period. OLD Mission Capital LLC’s holdings in BP were worth $5,587,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in BP by 30.1% in the fourth 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 purchasing an additional 110,019 shares during the period. SVB Wealth LLC acquired a new stake in shares of BP during the 4th quarter worth approximately $588,000. Avior Wealth Management LLC raised its stake in shares of BP by 83.3% during the fourth quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company’s stock worth $1,577,000 after buying an additional 24,252 shares during the last quarter. ARK & TLK Investments LLC acquired a new position in BP in the fourth quarter valued at approximately $434,000. Finally, Altrius Capital Management Inc grew its holdings in BP by 16.6% during the 4th quarter. Altrius Capital Management Inc now owns 272,527 shares of the oil and gas exploration company’s stock worth $8,056,000 after acquiring an additional 38,751 shares during the period. 11.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BP. StockNews.com lowered BP from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Royal Bank of Canada restated a “sector perform” rating on shares of BP in a report on Tuesday, January 14th. TD Cowen cut BP from a “buy” rating to a “hold” rating and set a $40.00 price target for the company. in a research note on Wednesday, March 19th. Piper Sandler reduced their price objective on shares of BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, TD Securities reiterated a “hold” rating and issued a $36.00 target price (down from $40.00) on shares of BP in a report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, two have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $37.48.

BP Stock Down 0.1 %

BP stock opened at $33.82 on Tuesday. The business has a 50-day moving average of $33.02 and a 200-day moving average of $31.35. BP p.l.c. has a fifty-two week low of $27.82 and a fifty-two week high of $40.40. The stock has a market capitalization of $91.80 billion, a P/E ratio of 422.74, a P/E/G ratio of 1.12 and a beta of 0.58. 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) last announced its quarterly earnings data on Tuesday, February 11th. The oil and gas exploration company reported $0.44 EPS 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%. On average, sell-side analysts anticipate that BP p.l.c. will post 3.53 earnings per share for the current fiscal 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 paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend was Friday, February 21st. BP’s dividend payout ratio is currently 2,375.00%.

About BP

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.