Captrust Financial Advisors Sells 291,403 Shares of BP p.l.c. (NYSE:BP)

Captrust Financial Advisors decreased its holdings in BP p.l.c. (NYSE:BP - Free Report) by 66.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 149,570 shares of the oil and gas exploration company's stock after selling 291,403 shares during the quarter. Captrust Financial Advisors' holdings in BP were worth $4,421,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BP. Asset Planning Inc purchased a new position in BP in the fourth quarter worth approximately $40,000. Anchor Investment Management LLC lifted its stake in BP by 55.2% in the fourth quarter. Anchor Investment Management LLC now owns 4,841 shares of the oil and gas exploration company's stock worth $143,000 after acquiring an additional 1,721 shares during the last quarter. Wellington Shields Capital Management LLC lifted its stake in BP by 26.9% in the fourth quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company's stock worth $223,000 after acquiring an additional 1,600 shares during the last quarter. Independence Bank of Kentucky raised its holdings in BP by 1,867.9% during the fourth quarter. Independence Bank of Kentucky now owns 7,970 shares of the oil and gas exploration company's stock worth $236,000 after purchasing an additional 7,565 shares in the last quarter. Finally, ST Germain D J Co. Inc. raised its holdings in BP by 77.5% during the fourth quarter. ST Germain D J Co. Inc. now owns 8,073 shares of the oil and gas exploration company's stock worth $239,000 after purchasing an additional 3,524 shares in the last quarter. Hedge funds and other institutional investors own 11.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BP. JPMorgan Chase & Co. raised shares of BP from an "underweight" rating to a "neutral" rating in a report on Thursday, February 20th. StockNews.com cut shares of BP from a "buy" rating to a "hold" rating in a research note on Tuesday, January 28th. TD Cowen cut shares of BP from a "buy" rating to a "hold" rating and set a $40.00 price objective on the stock. in a research note on Wednesday, March 19th. Piper Sandler dropped their price objective on shares of BP from $35.00 to $32.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company boosted their price objective 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. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $36.06.

BP Trading Down 1.2%

BP traded down $0.36 during trading on Thursday, reaching $30.01. The company had a trading volume of 3,278,638 shares, compared to its average volume of 9,777,057. The firm's 50-day simple moving average is $30.25 and its 200 day simple moving average is $30.59. The company has a market cap of $81.46 billion, a price-to-earnings ratio of 375.10, a PEG ratio of 1.12 and a beta of 0.51. BP p.l.c. has a 12-month low of $25.22 and a 12-month high of $37.93. 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 (NYSE:BP - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The oil and gas exploration company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.03). BP had a return on equity of 10.96% and a net margin of 0.20%. The company had revenue of $46.91 billion during the quarter, compared to analyst estimates of $40.12 billion. During the same period last year, the company posted $0.97 earnings per share. The company's revenue was down 4.0% compared to the same quarter last year. Equities research analysts anticipate that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 16th will be issued a $0.48 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.92 annualized dividend and a yield of 6.40%. BP's dividend payout ratio (DPR) is currently -413.04%.

About BP

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.