Jones Financial Companies Lllp Increases Holdings in BP p.l.c. (NYSE:BP)

Jones Financial Companies Lllp lifted its holdings in shares of BP p.l.c. (NYSE:BP) by 28.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 93,615 shares of the oil and gas exploration company’s stock after acquiring an additional 20,491 shares during the period. Jones Financial Companies Lllp’s holdings in BP were worth $2,767,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC boosted its stake in BP by 2.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 660,538 shares of the oil and gas exploration company’s stock valued at $19,526,000 after acquiring an additional 14,436 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of BP by 30.1% in the 4th quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company’s stock valued at $14,040,000 after purchasing an additional 110,019 shares during the period. Kornitzer Capital Management Inc. KS grew its stake in BP by 2.3% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 465,242 shares of the oil and gas exploration company’s stock worth $13,753,000 after buying an additional 10,262 shares during the last quarter. Captrust Financial Advisors increased its position in BP by 1.2% during the third quarter. Captrust Financial Advisors now owns 440,973 shares of the oil and gas exploration company’s stock worth $13,842,000 after buying an additional 5,150 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in BP by 3.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 343,880 shares of the oil and gas exploration company’s stock valued at $10,795,000 after buying an additional 12,700 shares during the last quarter. Hedge funds and other institutional investors own 11.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BP. Piper Sandler cut their target price on shares of BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. StockNews.com lowered shares of BP from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Wolfe Research set a $50.00 target price on shares of BP in a research note on Tuesday, January 14th. Wells Fargo & Company upped their price objective on BP from $30.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley lowered their target price on BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, three have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, BP currently has an average rating of “Hold” and a consensus price target of $38.26.

BP Price Performance

Shares of NYSE BP opened at $31.90 on Thursday. 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 firm has a market capitalization of $85.39 billion, a P/E ratio of 398.74, a PEG ratio of 1.12 and a beta of 0.58. The company’s fifty day moving average is $31.99 and its two-hundred day moving average is $31.32.

BP (NYSE:BP) last issued its 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 return on equity of 10.96% and a net margin of 0.20%. Analysts forecast that BP p.l.c. will post 3.53 EPS for the current fiscal 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 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 yield of 6.02%. BP’s dividend payout ratio is presently 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.