29,692 Shares in BP p.l.c. $BP Bought by M Holdings Securities Inc.

Key Points

• M Holdings Securities acquired a new 29,692-share position in BP during the third quarter, valued at about $1.4 million. Institutional investors and hedge funds collectively own 11.01% of the company’s stock.
• BP reported quarterly earnings of $3.26 per share, beating analyst estimates of $2.66, while revenue rose 41.8% year over year to $68.4 billion.
• BP announced a quarterly dividend of $0.5196 per share, equivalent to an annualized yield of about 4.7%. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $49.90.

M Holdings Securities Inc. acquired a new position in BP p.l.c. (NYSE:BP - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,692 shares of the oil and gas exploration company's stock, valued at approximately $1,398,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Readystate Asset Management LP lifted its position in shares of BP by 322.4% during the 2nd quarter. Readystate Asset Management LP now owns 619,670 shares of the oil and gas exploration company's stock valued at $22,897,000 after acquiring an additional 472,974 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in BP by 15.8% in the second quarter. Russell Investments Group Ltd. now owns 1,410,714 shares of the oil and gas exploration company's stock valued at $52,307,000 after acquiring an additional 192,211 shares during the last quarter. Kahn Brothers Group Inc. bought a new stake in BP in the second quarter worth $23,094,000. TD Waterhouse Canada Inc. boosted its stake in shares of BP by 611.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 111,585 shares of the oil and gas exploration company's stock worth $4,966,000 after acquiring an additional 95,896 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new stake in BP during the second quarter worth approximately $1,592,000. 11.01% of the stock is owned by institutional investors and hedge funds.

BP Stock Performance

BP stock opened at $44.52 on Tuesday. The stock has a 50-day simple moving average of $46.29 and a 200 day simple moving average of $43.21. The company has a quick ratio of 0.95, a current ratio of 1.29 and a debt-to-equity ratio of 0.62. BP p.l.c. has a 12-month low of $33.22 and a 12-month high of $51.49. The stock has a market capitalization of $116.63 billion, a price-to-earnings ratio of 6.23, a P/E/G ratio of 0.35 and a beta of 0.16.

BP (NYSE:BP - Get Free Report) last issued its quarterly earnings data on Friday, October 30th. The oil and gas exploration company reported $3.26 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.60. The firm had revenue of $68.40 billion for the quarter, compared to analyst estimates of $63.14 billion. BP had a net margin of 3.74% and a return on equity of 24.67%. The company's revenue was up 41.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 EPS. On average, research analysts anticipate that BP p.l.c. will post 8.37 earnings per share for the current fiscal year.

BP Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 13th will be given a dividend of $0.5196 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, November 13th. BP's dividend payout ratio is presently 60.59%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BP. Zacks Research raised BP from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 8th. UBS Group cut BP from a "buy" rating to a "hold" rating in a report on Thursday, October 1st. Freedom Capital raised shares of BP from a "strong sell" rating to a "hold" rating in a report on Thursday, August 6th. Piper Sandler boosted their target price on BP from $43.00 to $46.00 and gave the stock a "neutral" rating in a report on Thursday, September 3rd. Finally, Morgan Stanley restated an "overweight" rating on shares of BP in a research report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, BP currently has a consensus rating of "Moderate Buy" and an average price target of $49.90.

BP Profile

BP p.l.c. is a global integrated energy company headquartered in London, United Kingdom. Its operations span the exploration, development and production of oil and natural gas, as well as the processing, refining, transportation and marketing of energy products.

Through its businesses, BP supplies fuels for road transportation, aviation and marine use, along with lubricants marketed under the Castrol brand. The company also operates retail fuel and convenience locations and provides energy products and services to commercial and industrial customers.

BP has expanded its activities beyond traditional hydrocarbons to include lower-carbon businesses such as renewable power, bioenergy, electric-vehicle charging and hydrogen.

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