Teachers Retirement System of The State of Kentucky Acquires 103,100 Shares of BP p.l.c. (NYSE:BP)

Teachers Retirement System of The State of Kentucky grew its position in shares of BP p.l.c. (NYSE:BP - Free Report) by 30.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 444,530 shares of the oil and gas exploration company's stock after buying an additional 103,100 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in BP were worth $15,020,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Missouri Trust & Investment Co lifted 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 worth $34,000 after purchasing an additional 800 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of BP during the fourth quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in BP by 580.8% during the first 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 purchasing an additional 1,841 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of BP in the first quarter worth about $81,000. Finally, Wayfinding Financial LLC acquired a new position in shares of BP during the 1st quarter worth about $87,000. 11.01% of the stock is currently owned by hedge funds and other institutional investors.

BP Price Performance

NYSE:BP traded up $0.34 during mid-day trading on Tuesday, reaching $32.57. 6,789,087 shares of the company were exchanged, compared to its average volume of 10,251,604. BP p.l.c. has a 12 month low of $25.22 and a 12 month high of $35.56. The company has a fifty day moving average of $30.39 and a 200 day moving average of $30.97. The company has a quick ratio of 0.92, a current ratio of 1.22 and a debt-to-equity ratio of 0.69. The stock has a market cap of $86.37 billion, a PE ratio of -70.79, a PEG ratio of 1.95 and a beta of 0.54.

BP (NYSE:BP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas exploration company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.03). The firm had revenue of $46.91 billion during 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 business's revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.97 earnings per share. On average, research analysts anticipate that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 16th were given a dividend of $0.48 per share. The ex-dividend date was Friday, May 16th. This represents a $1.92 dividend on an annualized basis and a yield of 5.90%. BP's dividend payout ratio (DPR) is -413.04%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BP. Morgan Stanley cut shares of BP from an "equal weight" rating to an "underweight" rating and set a $26.50 price objective for the company. in a research report on Monday, May 12th. UBS Group cut shares of BP from a "buy" rating to a "neutral" rating in a research report on Thursday, April 10th. Scotiabank reaffirmed a "sector perform" rating and set a $34.00 price target (up previously from $30.00) on shares of BP in a research report on Friday, July 11th. Jefferies Financial Group set a $29.00 price objective on shares of BP and gave the stock a "hold" rating in a research note on Monday, May 19th. Finally, Piper Sandler upped their target price on shares of BP from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $35.50.

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.