Summit Financial LLC Has $603,000 Stock Position in BP p.l.c. (NYSE:BP)

Summit Financial LLC boosted its position in BP p.l.c. (NYSE:BP) by 17.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,392 shares of the oil and gas exploration company’s stock after buying an additional 3,084 shares during the quarter. Summit Financial LLC’s holdings in BP were worth $603,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of BP. Wedge Capital Management L L P NC boosted its position in shares of 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 during the period. Bank of New York Mellon Corp boosted its holdings in 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 increased its holdings in shares of 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 purchasing an additional 10,262 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in shares of BP by 3.8% during 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. Finally, Altrius Capital Management Inc lifted its stake in shares of BP by 16.6% in the fourth quarter. Altrius Capital Management Inc now owns 272,527 shares of the oil and gas exploration company’s stock valued at $8,056,000 after buying an additional 38,751 shares during the period. Institutional investors own 11.01% of the company’s stock.

BP Stock Up 0.1 %

Shares of NYSE BP opened at $33.84 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.70. The company has a market cap of $91.87 billion, a price-to-earnings ratio of 423.05, a price-to-earnings-growth ratio of 1.12 and a beta of 0.58. BP p.l.c. has a 12-month low of $27.82 and a 12-month high of $40.40. The firm’s 50-day simple moving average is $33.12 and its 200 day simple moving average is $31.39.

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 net margin of 0.20% and a return on equity of 10.96%. On average, research analysts expect that BP p.l.c. will post 3.53 earnings per share for the current fiscal year.

BP Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 21st were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 5.67%. The ex-dividend date was Friday, February 21st. BP’s dividend payout ratio (DPR) is presently 2,375.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BP shares. TD Cowen downgraded BP from a “buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research report on Wednesday, March 19th. Piper Sandler decreased their price target 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. Wolfe Research set a $50.00 price objective on shares of BP in a research note on Tuesday, January 14th. DZ Bank cut shares of BP from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upgraded shares of BP from an “underweight” rating to a “neutral” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, two have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.48.

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.