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Beaumont Financial Advisors LLC Cuts Stock Holdings in BP p.l.c. $BP

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Key Points

  • Beaumont Financial Advisors cut its stake in BP by 65.4% in Q4, selling 171,419 shares and leaving 90,501 shares valued at about $3.14 million.
  • BP shares are trading near their 52‑week high (opened $47.13; high $48.27) as geopolitical tensions and higher oil prices lift energy stocks, and BP named Carol Howle deputy CEO to lead a portfolio review.
  • BP beat quarterly estimates (EPS $0.60 vs $0.57; revenue $47.38B), pays a quarterly dividend that annualizes to a 4.2% yield, but analysts’ consensus is a "Hold" with an average target of $40.18.
  • Interested in BP? Here are five stocks we like better.

Beaumont Financial Advisors LLC lessened its holdings in BP p.l.c. (NYSE:BP - Free Report) by 65.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 90,501 shares of the oil and gas exploration company's stock after selling 171,419 shares during the period. Beaumont Financial Advisors LLC's holdings in BP were worth $3,143,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BP. Strategic Advocates LLC purchased a new stake in BP during the third quarter worth $25,000. Heartwood Wealth Advisors LLC purchased a new position in shares of BP in the 3rd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of BP in the 2nd quarter worth $27,000. Triumph Capital Management purchased a new stake in shares of BP during the 3rd quarter worth $43,000. Finally, Ameriflex Group Inc. boosted its position in BP by 100.0% during the third quarter. Ameriflex Group Inc. now owns 1,300 shares of the oil and gas exploration company's stock valued at $45,000 after purchasing an additional 650 shares in the last quarter. 11.01% of the stock is owned by hedge funds and other institutional investors.

BP Price Performance

Shares of NYSE BP opened at $47.13 on Friday. BP p.l.c. has a fifty-two week low of $25.22 and a fifty-two week high of $48.27. The company has a market cap of $123.59 billion, a PE ratio of -4,708.69, a P/E/G ratio of 1.30 and a beta of 0.21. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.98 and a current ratio of 1.26. The business has a 50-day simple moving average of $40.59 and a two-hundred day simple moving average of $36.96.

BP (NYSE:BP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 10th. The oil and gas exploration company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $47.38 billion for the quarter, compared to the consensus estimate of $42.19 billion. BP had a net margin of 0.03% and a return on equity of 9.68%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 earnings per share. As a group, equities analysts expect that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, February 20th were issued a $0.4992 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.2%. BP's dividend payout ratio (DPR) is currently -19,800.00%.

Key Headlines Impacting BP

Here are the key news stories impacting BP this week:

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BP. HSBC upgraded shares of BP from a "reduce" rating to a "hold" rating and boosted their target price for the stock from $35.10 to $45.30 in a report on Friday, March 20th. TD Cowen lowered their price target on shares of BP from $37.00 to $35.00 and set a "hold" rating on the stock in a report on Friday, February 13th. Jefferies Financial Group reiterated a "hold" rating on shares of BP in a research note on Thursday, January 8th. Weiss Ratings raised shares of BP from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, March 24th. Finally, Wolfe Research reaffirmed an "outperform" rating and issued a $51.00 price target on shares of BP in a report on Thursday, December 18th. Four research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, BP presently has an average rating of "Hold" and an average price target of $40.18.

View Our Latest Stock Report on BP

BP Company Profile

(Free Report)

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world's largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company's core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.

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Institutional Ownership by Quarter for BP (NYSE:BP)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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