Bollard Group LLC Buys 37,974 Shares of BP p.l.c. $BP

Key Points

• Bollard Group LLC boosted its stake in BP by 12.7%, buying 37,974 shares to hold 337,724 shares worth about $10.11 million according to its Q2 13F filing.
• BP beat quarterly estimates, reporting EPS of $0.85 versus $0.72 expected and revenue of $48.42 billion versus $43.76 billion.
• BP raised its quarterly dividend to $0.4992 (annualized $2.00) for a ~5.6% yield, with an ex-dividend date of Nov. 14 and a reported payout ratio of 339.66%.

Bollard Group LLC boosted its stake in BP p.l.c. (NYSE:BP - Free Report) by 12.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 337,724 shares of the oil and gas exploration company's stock after purchasing an additional 37,974 shares during the quarter. Bollard Group LLC's holdings in BP were worth $10,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BP. Twin Peaks Wealth Advisors LLC bought a new position in shares of BP in the second quarter valued at approximately $27,000. Acima Private Wealth LLC bought a new position in BP in the 2nd quarter valued at $32,000. Rossby Financial LCC grew its position in shares of BP by 146.6% during the 2nd quarter. Rossby Financial LCC now owns 1,736 shares of the oil and gas exploration company's stock valued at $52,000 after purchasing an additional 1,032 shares in the last quarter. ORG Partners LLC raised its position in shares of BP by 743.3% in the second quarter. ORG Partners LLC now owns 1,754 shares of the oil and gas exploration company's stock worth $53,000 after buying an additional 1,546 shares in the last quarter. Finally, Trust Co. of Toledo NA OH bought a new stake in BP during the second quarter valued at $87,000. 11.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on BP shares. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of BP in a report on Wednesday, October 8th. Wells Fargo & Company raised their target price on shares of BP from $37.00 to $39.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 5th. BNP Paribas upgraded shares of BP from a "neutral" rating to an "outperform" rating in a research report on Monday, September 15th. Santander raised shares of BP to an "outperform" rating in a report on Monday, November 3rd. Finally, Citigroup reaffirmed a "buy" rating on shares of BP in a report on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $43.14.

BP Price Performance

Shares of BP stock opened at $35.82 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.89 and a current ratio of 1.19. BP p.l.c. has a 52-week low of $25.22 and a 52-week high of $37.64. The company has a fifty day moving average of $35.21 and a 200-day moving average of $33.36. The stock has a market capitalization of $93.51 billion, a price-to-earnings ratio of 61.75, a price-to-earnings-growth ratio of 1.70 and a beta of 0.32.

BP (NYSE:BP - Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The oil and gas exploration company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.13. BP had a net margin of 0.79% and a return on equity of 9.07%. The business had revenue of $48.42 billion during the quarter, compared to the consensus estimate of $43.76 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. Equities research analysts expect that BP p.l.c. will post 3.53 EPS for the current year.

BP Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, November 14th will be paid a $0.4992 dividend. This is an increase from BP's previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.00 dividend on an annualized basis and a yield of 5.6%. BP's payout ratio is presently 339.66%.

BP 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.

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