Cary Street Partners Financial LLC Acquires New Holdings in BP p.l.c. (NYSE:BP)

Cary Street Partners Financial LLC acquired a new stake in shares of BP p.l.c. (NYSE:BP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,455 shares of the oil and gas exploration company's stock, valued at approximately $1,255,000.

Several other institutional investors have also recently made changes to their positions in the stock. Asset Planning Inc purchased a new stake in BP in the 4th quarter valued at about $40,000. Anchor Investment Management LLC increased its stake in BP by 55.2% in 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 during the last quarter. Wellington Shields Capital Management LLC increased its stake in BP by 26.9% in the 4th quarter. Wellington Shields Capital Management LLC now owns 7,550 shares of the oil and gas exploration company's stock valued at $223,000 after buying an additional 1,600 shares during the last quarter. Independence Bank of Kentucky increased its stake in 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 valued at $236,000 after buying an additional 7,565 shares during the last quarter. Finally, ST Germain D J Co. Inc. boosted its stake in BP by 77.5% in the fourth quarter. ST Germain D J Co. Inc. now owns 8,073 shares of the oil and gas exploration company's stock valued at $239,000 after acquiring an additional 3,524 shares during the last quarter. Institutional investors and hedge funds own 11.01% of the company's stock.

BP Trading Up 1.6%

NYSE:BP traded up $0.48 during trading hours on Tuesday, reaching $30.67. The company's stock had a trading volume of 6,187,839 shares, compared to its average volume of 9,734,062. The firm has a market capitalization of $83.27 billion, a price-to-earnings ratio of 383.42, a PEG ratio of 1.12 and a beta of 0.51. The firm has a 50-day simple moving average of $30.30 and a 200-day simple moving average of $30.59. BP p.l.c. has a 1 year low of $25.22 and a 1 year high of $38.16. 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 announced 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 firm 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%. BP's revenue was down 4.0% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. Research analysts expect that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 16th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.92 dividend on an annualized basis and a yield of 6.26%. BP's dividend payout ratio (DPR) is currently -413.04%.

Analysts Set New Price Targets

BP has been the topic of a number of research analyst reports. StockNews.com cut shares of BP from a "buy" rating to a "hold" rating in a research note on Tuesday, January 28th. Morgan Stanley downgraded 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. DZ Bank downgraded shares of BP from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. Royal Bank of Canada reaffirmed a "sector perform" rating on shares of BP in a report on Tuesday, January 14th. Finally, Wells Fargo & Company raised their price objective on shares of BP from $30.00 to $37.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, BP currently has an average rating of "Hold" and an average target price of $36.06.

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.