Janney Capital Management LLC Trims Stake in BP p.l.c. (NYSE:BP)

Janney Capital Management LLC lessened its holdings in shares of BP p.l.c. (NYSE:BP) by 3.3% in the first quarter, HoldingsChannel.com reports. The fund owned 499,190 shares of the oil and gas exploration company’s stock after selling 17,152 shares during the period. BP accounts for about 1.3% of Janney Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Janney Capital Management LLC’s holdings in BP were worth $18,810,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. First United Bank & Trust purchased a new stake in BP during the fourth quarter valued at about $33,000. Versant Capital Management Inc purchased a new position in shares of BP during the 4th quarter valued at about $35,000. Guardian Wealth Management Inc. boosted its stake in BP by 576.0% in the fourth quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock worth $40,000 after buying an additional 962 shares in the last quarter. MeadowBrook Investment Advisors LLC bought a new position in BP during the fourth quarter valued at approximately $46,000. Finally, Indiana Trust & Investment Management CO raised its stake in shares of BP by 73.1% during the first quarter. Indiana Trust & Investment Management CO now owns 1,575 shares of the oil and gas exploration company’s stock worth $59,000 after acquiring an additional 665 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BP has been the topic of several recent research reports. Piper Sandler increased their target price on shares of BP from $40.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. Erste Group Bank reiterated a “hold” rating on shares of BP in a report on Friday, June 14th. TD Securities increased their target price on BP from $43.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Raymond James lifted their price target on BP from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Finally, StockNews.com cut shares of BP from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.88.

BP Trading Up 0.2 %

Shares of BP traded up $0.08 during mid-day trading on Friday, hitting $37.05. 4,845,263 shares of the company’s stock traded hands, compared to its average volume of 5,585,646. The company has a quick ratio of 0.94, a current ratio of 1.23 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $103.22 billion, a P/E ratio of 11.61, a PEG ratio of 1.96 and a beta of 0.65. The business’s 50-day moving average price is $36.77 and its 200-day moving average price is $36.57. BP p.l.c. has a 1 year low of $33.52 and a 1 year high of $40.84.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas exploration company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The company had revenue of $48.88 billion for the quarter, compared to analysts’ expectations of $53.65 billion. BP had a net margin of 4.51% and a return on equity of 13.49%. The firm’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.66 earnings per share. As a group, sell-side analysts forecast that BP p.l.c. will post 4.72 EPS for the current fiscal year.

BP Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 17th were given a dividend of $0.4362 per share. The ex-dividend date was Thursday, May 16th. This represents a $1.74 annualized dividend and a yield of 4.71%. BP’s payout ratio is 53.92%.

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.