Butensky & Cohen Financial Security Inc. Acquires 7,776 Shares of BP p.l.c. $BP

Key Points

• Butensky & Cohen Financial Security Inc. increased its holdings in BP p.l.c. by 5.9%, acquiring an additional 7,776 shares, bringing their total to 139,036 shares valued at approximately $4.16 million.
• BP's recent quarterly earnings exceeded expectations with $0.90 earnings per share, beating the consensus estimate of $0.68, while total revenue was $46.63 billion.
• The company has recently raised its quarterly dividend to $0.4942 per share, providing a 5.8% dividend yield, reflecting a positive change from its previous dividend of $0.48.

Butensky & Cohen Financial Security Inc. raised its holdings in BP p.l.c. (NYSE:BP - Free Report) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,036 shares of the oil and gas exploration company's stock after buying an additional 7,776 shares during the period. Butensky & Cohen Financial Security Inc.'s holdings in BP were worth $4,161,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BP. Cary Street Partners Investment Advisory LLC raised its stake in 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 valued at $32,000 after buying an additional 900 shares during the period. Mascagni Wealth Management Inc. bought a new stake in BP in the fourth quarter valued at approximately $33,000. Missouri Trust & Investment Co raised 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 valued at $34,000 after buying an additional 800 shares during the period. GW&K Investment Management LLC increased its stake in shares of BP by 178.0% during 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 purchasing an additional 662 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of 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 worth $73,000 after purchasing an additional 1,841 shares during the period. Institutional investors own 11.01% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BP shares. BNP Paribas upgraded BP from a "neutral" rating to an "outperform" rating in a research note on Monday, September 15th. Wells Fargo & Company increased their target price on BP from $27.00 to $32.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Berenberg Bank upgraded BP from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. Piper Sandler increased their target price on BP from $35.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 18th. Finally, TD Cowen raised their price objective on BP from $34.00 to $37.00 and gave the stock a "hold" rating in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BP presently has a consensus rating of "Moderate Buy" and an average price target of $41.77.

BP Trading Down 1.3%

NYSE BP opened at $34.12 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.21 and a debt-to-equity ratio of 0.68. BP p.l.c. has a twelve month low of $25.22 and a twelve month high of $35.54. The company has a market cap of $89.86 billion, a price-to-earnings ratio of 162.48, a price-to-earnings-growth ratio of 1.78 and a beta of 0.61. The business's fifty day moving average is $33.69 and its 200 day moving average is $31.45.

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 return on equity of 9.08% and a net margin of 0.29%.The company had revenue of $46.63 billion for the quarter, compared to the consensus estimate of $42.88 billion. During the same quarter last year, the business posted $1.00 EPS. BP's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, August 15th were issued a dividend of $0.4942 per share. This is a positive change from BP's previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.98 annualized dividend and a dividend yield of 5.8%. BP's dividend payout ratio (DPR) is 942.86%.

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.

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