Baird Financial Group Inc. decreased its position in shares of BP p.l.c. (NYSE:BP - Free Report) by 17.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,518 shares of the oil and gas exploration company's stock after selling 15,669 shares during the period. Baird Financial Group Inc.'s holdings in BP were worth $2,262,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in BP by 4.3% during the 4th quarter. Ameriprise Financial Inc. now owns 940,786 shares of the oil and gas exploration company's stock worth $27,810,000 after acquiring an additional 38,759 shares during the period. Syon Capital LLC grew its holdings in BP by 38.9% during the 4th quarter. Syon Capital LLC now owns 21,476 shares of the oil and gas exploration company's stock valued at $635,000 after buying an additional 6,019 shares in the last quarter. Anchor Investment Management LLC grew its holdings in BP by 55.2% during the 4th quarter. Anchor Investment Management LLC now owns 4,841 shares of the oil and gas exploration company's stock valued at $143,000 after buying an additional 1,721 shares in the last quarter. Heritage Trust Co purchased a new stake in BP during the 4th quarter valued at approximately $674,000. Finally, Legacy Financial Advisors Inc. grew its holdings in BP by 35.8% during the 4th quarter. Legacy Financial Advisors Inc. now owns 22,002 shares of the oil and gas exploration company's stock valued at $650,000 after buying an additional 5,797 shares in the last quarter. Institutional investors own 11.01% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. Raymond James increased their price objective on shares of BP from $36.00 to $37.00 and gave the company an "outperform" rating in a report on Friday, January 17th. TD Securities reaffirmed a "hold" rating and set a $36.00 price objective (down from $40.00) on shares of BP in a report on Wednesday, March 19th. Morgan Stanley lowered shares of BP from an "equal weight" rating to an "underweight" rating and set a $26.50 price objective for the company. in a report on Monday, May 12th. TD Cowen lowered shares of BP from a "buy" rating to a "hold" rating and set a $40.00 target price for the company. in a report on Wednesday, March 19th. Finally, StockNews.com lowered shares of BP from a "buy" rating to a "hold" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $36.06.
Read Our Latest Stock Report on BP
BP Trading Down 1.2%
BP traded down $0.36 during trading on Friday, reaching $29.76. The company had a trading volume of 6,922,733 shares, compared to its average volume of 9,809,570. The stock has a market cap of $80.78 billion, a P/E ratio of 371.98, a PEG ratio of 1.12 and a beta of 0.51. The business has a 50 day simple moving average of $30.16 and a 200-day simple moving average of $30.60. BP p.l.c. has a 52 week low of $25.22 and a 52 week high of $37.60. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.70.
BP (NYSE:BP - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The oil and gas exploration company reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.03). The company had revenue of $46.91 billion during the quarter, compared to the consensus estimate of $40.12 billion. BP had a return on equity of 10.96% and a net margin of 0.20%. The firm's quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. On average, equities analysts anticipate that BP p.l.c. will post 3.53 EPS for the current fiscal year.
BP Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 16th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, May 16th. This represents a $1.92 annualized dividend and a dividend yield of 6.45%. BP's dividend payout ratio (DPR) is -413.04%.
BP Profile
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Free Report)
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.
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