Bank of New York Mellon Corp Grows Stock Holdings in BP p.l.c. (NYSE:BP)

Bank of New York Mellon Corp increased its stake in shares of BP p.l.c. (NYSE:BP - Free Report) by 486.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,787,644 shares of the oil and gas exploration company's stock after acquiring an additional 2,312,687 shares during the quarter. Bank of New York Mellon Corp owned about 0.10% of BP worth $94,195,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Missouri Trust & Investment Co increased its stake in BP by 400.0% in the first quarter. Missouri Trust & Investment Co now owns 1,000 shares of the oil and gas exploration company's stock valued at $34,000 after purchasing an additional 800 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in BP in the 4th quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in BP by 580.8% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,158 shares of the oil and gas exploration company's stock valued at $73,000 after buying an additional 1,841 shares in the last quarter. MorganRosel Wealth Management LLC purchased a new position in shares of BP during the 1st quarter worth $81,000. Finally, Wayfinding Financial LLC purchased a new position in shares of BP during the 1st quarter worth $87,000. 11.01% of the stock is currently owned by institutional investors and hedge funds.

BP Stock Down 0.0%

BP stock opened at $31.26 on Thursday. The firm has a market cap of $84.01 billion, a price-to-earnings ratio of -67.96, a P/E/G ratio of 2.00 and a beta of 0.54. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.22 and a quick ratio of 0.92. BP p.l.c. has a fifty-two week low of $25.22 and a fifty-two week high of $35.83. The firm has a fifty day moving average price of $29.90 and a two-hundred day moving average price of $30.80.

BP (NYSE:BP - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The oil and gas exploration company reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.03). The company had revenue of $46.91 billion for the quarter, compared to analyst estimates of $40.12 billion. BP had a negative net margin of 0.62% and a positive return on equity of 9.51%. The firm's quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 EPS. As a group, analysts forecast that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 16th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, May 16th. This represents a $1.92 annualized dividend and a yield of 6.14%. BP's dividend payout ratio is -413.04%.

Analysts Set New Price Targets

BP has been the subject of a number of research analyst reports. UBS Group downgraded BP from a "buy" rating to a "neutral" rating in a report on Thursday, April 10th. Jefferies Financial Group set a $29.00 price target on shares of BP and gave the stock a "hold" rating in a research report on Monday, May 19th. Wells Fargo & Company increased their price target on shares of BP from $27.00 to $32.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Morgan Stanley cut shares of BP from an "equal weight" rating to an "underweight" rating and set a $26.50 target price on the stock. in a report on Monday, May 12th. Finally, Scotiabank cut their price target on BP from $34.00 to $30.00 and set a "sector perform" rating on the stock in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, BP presently has an average rating of "Hold" and a consensus price target of $34.72.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.