BP p.l.c. (NYSE:BP) Shares Purchased by Nicholas Hoffman & Company LLC.

Key Points

• Nicholas Hoffman & Company LLC increased its holdings in BP p.l.c. by 163.9% in Q1, owning 20,568 shares valued at approximately $695,000.
• BP recently declared a quarterly dividend of $0.4942 per share, representing a 5.8% dividend yield and an increase from the previous dividend of $0.48.
• The stock has a current trading price of $33.89, with a 52-week range between $25.22 and $35.54, and has reported quarterly earnings that beat estimates.

Nicholas Hoffman & Company LLC. grew its holdings in shares of BP p.l.c. (NYSE:BP - Free Report) by 163.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 20,568 shares of the oil and gas exploration company's stock after acquiring an additional 12,773 shares during the quarter. Nicholas Hoffman & Company LLC.'s holdings in BP were worth $695,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Sunbelt Securities Inc. boosted its stake in BP by 3.3% during the 4th quarter. Sunbelt Securities Inc. now owns 11,839 shares of the oil and gas exploration company's stock valued at $344,000 after purchasing an additional 380 shares in the last quarter. Parallel Advisors LLC grew its holdings in BP by 1.3% during the first quarter. Parallel Advisors LLC now owns 31,943 shares of the oil and gas exploration company's stock worth $1,079,000 after acquiring an additional 397 shares during the period. NBT Bank N A NY raised its position in BP by 4.9% in the first quarter. NBT Bank N A NY now owns 8,558 shares of the oil and gas exploration company's stock worth $289,000 after acquiring an additional 399 shares in the last quarter. Bank & Trust Co boosted its position in shares of BP by 24.9% during the 1st quarter. Bank & Trust Co now owns 2,648 shares of the oil and gas exploration company's stock valued at $89,000 after purchasing an additional 528 shares in the last quarter. Finally, Confluence Wealth Services Inc. grew its stake in shares of BP by 5.9% in the 1st quarter. Confluence Wealth Services Inc. now owns 9,963 shares of the oil and gas exploration company's stock worth $337,000 after purchasing an additional 551 shares during the last quarter. Institutional investors own 11.01% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on BP. Piper Sandler raised their target price on shares of BP from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, July 15th. Wells Fargo & Company raised their price objective on BP from $27.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Morgan Stanley lowered BP from an "equal weight" rating to an "underweight" rating and set a $26.50 target price on the stock. in a research report on Monday, May 12th. TD Cowen upped their target price on BP from $34.00 to $37.00 and gave the company a "hold" rating in a report on Wednesday. Finally, UBS Group cut BP from a "buy" rating to a "neutral" rating in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, BP has a consensus rating of "Hold" and a consensus target price of $35.17.

BP Trading Up 0.8%

NYSE:BP opened at $33.89 on Thursday. The stock's 50-day moving average is $31.18 and its two-hundred day moving average is $31.09. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.22 and a quick ratio of 0.92. The stock has a market cap of $89.87 billion, a PE ratio of 161.36, a price-to-earnings-growth ratio of 1.97 and a beta of 0.57. BP p.l.c. has a fifty-two week low of $25.22 and a fifty-two week high of $35.54.

BP (NYSE:BP - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The oil and gas exploration company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.22. BP had a net margin of 0.29% and a return on equity of 9.11%. The firm had revenue of $46.63 billion for the quarter, compared to analyst estimates of $42.88 billion. During the same quarter in the prior year, the business earned $1.00 EPS. The company's revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities research analysts forecast that BP p.l.c. will post 3.53 earnings per share for the current fiscal year.

BP Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 15th will be issued a dividend of $0.4942 per share. The ex-dividend date is Friday, August 15th. This represents a $1.98 annualized dividend and a dividend yield of 5.8%. This is a positive change from BP's previous quarterly dividend of $0.48. BP's dividend payout ratio is presently -413.04%.

BP Company 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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