Transcend Capital Advisors LLC Sells 3,578 Shares of BP p.l.c. (NYSE:BP)

Transcend Capital Advisors LLC lessened its position in BP p.l.c. (NYSE:BP) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,750 shares of the oil and gas exploration company’s stock after selling 3,578 shares during the period. Transcend Capital Advisors LLC’s holdings in BP were worth $1,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP bought a new stake in BP in the third quarter valued at $5,089,000. Integrated Investment Consultants LLC purchased a new stake in shares of BP in the 3rd quarter worth about $857,000. Avior Wealth Management LLC increased its position 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 valued at $1,577,000 after buying an additional 24,252 shares during the period. Kornitzer Capital Management Inc. KS raised its stake in BP by 5.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 454,980 shares of the oil and gas exploration company’s stock worth $14,282,000 after buying an additional 23,325 shares in the last quarter. Finally, Altrius Capital Management Inc lifted its holdings in BP by 9.9% in the third quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company’s stock worth $7,338,000 after buying an additional 20,976 shares during the period. 11.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on BP shares. DZ Bank lowered BP from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Royal Bank of Canada reissued a “sector perform” rating 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. Piper Sandler dropped 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, Wells Fargo & Company raised their target price on shares of BP from $30.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.64.

BP Trading Down 2.3 %

BP stock opened at $33.87 on Friday. BP p.l.c. has a one year low of $27.82 and a one year high of $40.40. The business’s fifty day moving average is $31.37 and its 200 day moving average is $31.39. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 0.97. The stock has a market capitalization of $90.66 billion, a PE ratio of 423.37, a price-to-earnings-growth ratio of 1.11 and a beta of 0.64.

BP (NYSE:BP) last released its quarterly earnings data 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%. On average, sell-side analysts predict that BP p.l.c. will post 3.53 EPS for the current year.

BP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 21st will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 5.67%. The ex-dividend date is Friday, February 21st. BP’s payout ratio is currently 2,375.00%.

BP Company 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.