Cantor Fitzgerald Investment Advisors L.P. Purchases New Holdings in BP p.l.c. $BP

Key Points

• Cantor Fitzgerald Investment Advisors purchased 57,646 BP shares in the third quarter, valued at approximately $2.54 million. Hedge funds and other institutional investors own 11.01% of BP.
• BP reported quarterly earnings of $2.22 per share, exceeding the $1.87 consensus estimate, while revenue reached $69.11 billion, up 106.1% year over year.
• BP increased its quarterly dividend to $0.5196 per share, representing an annualized payout of $2.08 and a 4.2% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $49.44.

Cantor Fitzgerald Investment Advisors L.P. purchased a new position in BP p.l.c. (NYSE:BP - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,646 shares of the oil and gas exploration company's stock, valued at approximately $2,536,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Rock Investment Company LLC increased its stake in BP by 6.0% in the 3rd quarter. Eagle Rock Investment Company LLC now owns 9,987 shares of the oil and gas exploration company's stock worth $439,000 after buying an additional 566 shares in the last quarter. Hoese & Co LLP purchased a new position in shares of BP in the third quarter valued at about $832,000. Crossmark Global Holdings Inc. boosted its stake in shares of BP by 7.6% in the third quarter. Crossmark Global Holdings Inc. now owns 141,172 shares of the oil and gas exploration company's stock worth $6,210,000 after acquiring an additional 9,998 shares during the period. Pillar Financial Advisors LLC bought a new position in shares of BP in the third quarter worth about $73,000. Finally, Sawyer & Company Inc purchased a new stake in shares of BP during the third quarter worth about $49,000. 11.01% of the stock is owned by hedge funds and other institutional investors.

BP Price Performance

NYSE:BP opened at $49.82 on Thursday. The business's 50-day moving average is $45.03 and its 200 day moving average is $43.66. BP p.l.c. has a 12 month low of $33.22 and a 12 month high of $50.27. The company has a market capitalization of $130.52 billion, a P/E ratio of 10.06, a P/E/G ratio of 0.46 and a beta of 0.20. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69.

BP (NYSE:BP - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.87 by $0.35. The business had revenue of $69.11 billion during the quarter, compared to analysts' expectations of $57.89 billion. BP had a return on equity of 16.63% and a net margin of 2.49%. The firm's revenue for the quarter was up 106.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 EPS. On average, equities research analysts forecast that BP p.l.c. will post 7.88 earnings per share for the current fiscal year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, August 14th were issued a $0.5196 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.2%. This is a boost from BP's previous quarterly dividend of $0.4992. The ex-dividend date of this dividend was Friday, August 14th. BP's payout ratio is 100.49%.

BP News Summary

Here are the key news stories impacting BP this week:

• Positive Sentiment: Zacks named BP a Rank #1 (Strong Buy) growth stock for October 21, providing a favorable short-term sentiment signal and potentially supporting investor demand. Best Growth Stocks to Buy for October 21st
• Positive Sentiment: BP and TechnipFMC signed a memorandum of understanding covering 20,000-psi subsea production systems for BP’s Paleogene projects in the Gulf of America. The agreement supports BP’s higher-pressure offshore development pipeline, although it is not yet a binding equipment contract. TechnipFMC and bp Sign MoU for Supply of 20K Subsea Production Systems
• Neutral Sentiment: Heavy online searches for BP indicate elevated investor interest but do not by themselves represent a change in earnings outlook or valuation. Investors Heavily Search BP p.l.c.
• Neutral Sentiment: A separate report on BP Marsh & Partners AIM: BPM concerns a different company and should not be interpreted as news about BP p.l.c. BP Marsh & Partners Earnings Report
• Negative Sentiment: BP’s retreat from the UK North Sea highlights declining production and a reported 78% tax rate, reinforcing concerns about the region’s economics and near-term production growth. The divestitures may improve capital allocation over time but reduce BP’s exposure to existing UK output. As BP Leaves the North Sea, These Independents Are Buying In
• Negative Sentiment: New reports that Gulf marine life has not fully recovered from the Deepwater Horizon spill renew environmental, litigation and reputational risks for BP, although the articles do not announce a new financial charge. Marine Life Recovery After Deepwater Horizon

Analysts Set New Price Targets

Several analysts recently issued reports on BP shares. Oppenheimer started coverage on BP in a research note on Thursday, October 1st. They set an "outperform" rating on the stock. HSBC upgraded BP from a "hold" rating to a "buy" rating and upped their price target for the stock from $46.00 to $51.30 in a research note on Friday, September 25th. Wells Fargo & Company raised shares of BP from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $48.00 to $57.00 in a report on Wednesday, September 30th. Mizuho increased their price objective on shares of BP from $53.00 to $56.00 and gave the company an "outperform" rating in a report on Monday, October 5th. Finally, Needham & Company LLC initiated coverage on shares of BP in a research report on Thursday, October 1st. They set a "hold" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $49.44.

About BP

BP p.l.c. is a global integrated energy company headquartered in London, United Kingdom. Its operations span the exploration, development and production of oil and natural gas, as well as the processing, refining, transportation and marketing of energy products.

Through its businesses, BP supplies fuels for road transportation, aviation and marine use, along with lubricants marketed under the Castrol brand. The company also operates retail fuel and convenience locations and provides energy products and services to commercial and industrial customers.

BP has expanded its activities beyond traditional hydrocarbons to include lower-carbon businesses such as renewable power, bioenergy, electric-vehicle charging and hydrogen.

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