Great Lakes Advisors LLC Lowers Position in BP p.l.c. (NYSE:BP)

Great Lakes Advisors LLC lessened its holdings in BP p.l.c. (NYSE:BP) by 18.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 7,571 shares of the oil and gas exploration company’s stock after selling 1,724 shares during the period. Great Lakes Advisors LLC’s holdings in BP were worth $224,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BP. Asset Planning Inc purchased a new stake in BP during the fourth quarter worth $40,000. Bank & Trust Co boosted its position in BP by 404.8% during the fourth quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock valued at $63,000 after purchasing an additional 1,700 shares in the last quarter. Versant Capital Management Inc raised 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 worth $66,000 after purchasing an additional 646 shares in the last quarter. Anchor Investment Management LLC lifted its position in shares of BP by 58.7% during the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after buying an additional 1,154 shares during the last quarter. Finally, Independence Bank of Kentucky grew its position in shares of BP by 1,867.9% in the 4th quarter. Independence Bank of Kentucky now owns 7,970 shares of the oil and gas exploration company’s stock worth $236,000 after buying an additional 7,565 shares during the last quarter. 11.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BP has been the subject of several recent analyst reports. 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. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of BP in a research report on Tuesday, January 14th. Wolfe Research set a $50.00 price target on BP in a report on Tuesday, January 14th. Piper Sandler decreased their price objective 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, JPMorgan Chase & Co. raised shares of BP from an “underweight” rating to a “neutral” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, three have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $38.26.

BP Trading Up 3.3 %

BP stock opened at $33.42 on Monday. BP p.l.c. has a 12-month low of $27.82 and a 12-month high of $40.40. The business’s 50-day moving average is $32.39 and its 200 day moving average is $31.22. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70. The stock has a market cap of $89.48 billion, a price-to-earnings ratio of 417.85, a PEG ratio of 1.12 and a beta of 0.58.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, February 11th. The oil and gas exploration company reported $0.44 EPS 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 anticipate that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 5.74%. The ex-dividend date of this dividend is Friday, February 21st. BP’s dividend 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.