OLD Mission Capital LLC Cuts Stock Holdings in BP p.l.c. $BP

Key Points

• OLD Mission Capital LLC has significantly reduced its stake in BP p.l.c. by 44.5%, selling 84,110 shares and currently holding 104,884 shares valued at approximately $3.54 million as of the latest SEC filing.
• Despite this sell-off by OLD Mission Capital, other investors such as Cary Street Partners and Missouri Trust & Investment Co. have made substantial purchases, boosting their positions by over 2,250% and 400%, respectively.
• BP announced a quarterly dividend increase to $0.4942 per share, yielding 5.6%, while the company's latest earnings report exceeded expectations with earnings per share of $0.90 against a consensus of $0.68.

OLD Mission Capital LLC lessened its stake in BP p.l.c. (NYSE:BP - Free Report) by 44.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 104,884 shares of the oil and gas exploration company's stock after selling 84,110 shares during the period. OLD Mission Capital LLC's holdings in BP were worth $3,544,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BP. Cary Street Partners Investment Advisory LLC grew its stake in shares of BP by 2,250.0% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 940 shares of the oil and gas exploration company's stock worth $32,000 after acquiring an additional 900 shares in the last quarter. Missouri Trust & Investment Co grew its stake in shares of 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 worth $34,000 after acquiring an additional 800 shares in the last quarter. GW&K Investment Management LLC grew its stake in shares of BP by 178.0% in the first quarter. GW&K Investment Management LLC now owns 1,034 shares of the oil and gas exploration company's stock worth $35,000 after acquiring an additional 662 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of BP in the fourth quarter worth $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of BP by 580.8% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,158 shares of the oil and gas exploration company's stock worth $73,000 after acquiring an additional 1,841 shares in the last quarter. Institutional investors and hedge funds own 11.01% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on BP. Melius Research began coverage on shares of BP in a research note on Wednesday, August 20th. They issued a "buy" rating and a $66.00 price target for the company. Melius initiated coverage on shares of BP in a research note on Wednesday, August 20th. They set a "buy" rating and a $66.00 target price for the company. Scotiabank upgraded shares of BP from a "sector perform" rating to a "sector outperform" rating and set a $42.00 target price for the company in a research note on Thursday, August 14th. Jefferies Financial Group set a $29.00 target price on shares of BP and gave the stock a "hold" rating in a research note on Monday, May 19th. Finally, Berenberg Bank upgraded shares of BP from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.77.

BP Stock Performance

Shares of NYSE:BP traded up $0.01 on Tuesday, reaching $35.24. The company's stock had a trading volume of 8,460,012 shares, compared to its average volume of 10,911,435. The stock's 50-day moving average is $32.70 and its two-hundred day moving average is $31.35. BP p.l.c. has a 52-week low of $25.22 and a 52-week high of $35.54. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.21 and a quick ratio of 0.92. The stock has a market capitalization of $92.95 billion, a P/E ratio of 167.80, a PEG ratio of 1.84 and a beta of 0.61.

BP (NYSE:BP - Get Free Report) last announced its earnings results on Tuesday, August 5th. The oil and gas exploration company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.22. BP had a net margin of 0.29% and a return on equity of 9.08%. The business had revenue of $46.63 billion during the quarter, compared to analysts' expectations of $42.88 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The business's revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that BP p.l.c. will post 3.53 EPS for the current year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be issued a $0.4942 dividend. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from BP's previous quarterly dividend of $0.48. This represents a $1.98 dividend on an annualized basis and a dividend yield of 5.6%. BP's dividend payout ratio is currently 942.86%.

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.