Farther Finance Advisors LLC Has $992,000 Stock Holdings in BP p.l.c. $BP

Key Points

• Farther Finance Advisors LLC increased its holdings in BP p.l.c. by 119.7% in the second quarter, owning 33,148 shares valued at $992,000.
• BP's latest earnings report showed a EPS of $0.90, surpassing expectations, although revenue declined by 1.4% year-over-year.
• BP announced a quarterly dividend of $0.4942 per share, marking a positive change from its previous dividend of $0.48.

Farther Finance Advisors LLC lifted its holdings in BP p.l.c. (NYSE:BP - Free Report) by 119.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,148 shares of the oil and gas exploration company's stock after buying an additional 18,057 shares during the quarter. Farther Finance Advisors LLC's holdings in BP were worth $992,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BP. Cary Street Partners Investment Advisory LLC raised its holdings 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 valued at $32,000 after buying an additional 900 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of BP in the fourth quarter valued at about $33,000. Missouri Trust & Investment Co raised its holdings 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 valued at $34,000 after buying an additional 800 shares during the last quarter. GW&K Investment Management LLC raised its holdings 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 valued at $35,000 after buying an additional 662 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings 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 valued at $73,000 after buying an additional 1,841 shares during the last quarter. 11.01% of the stock is owned by institutional investors.

BP Stock Performance

Shares of BP stock opened at $35.20 on Thursday. 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 cap of $92.70 billion, a PE ratio of 167.62, a price-to-earnings-growth ratio of 1.79 and a beta of 0.61. The stock has a 50-day moving average of $33.86 and a 200-day moving average of $31.51. BP p.l.c. has a one year low of $25.22 and a one year high of $35.54.

BP (NYSE:BP - Get Free Report) last announced its quarterly 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. The company had revenue of $46.63 billion during the quarter, compared to analysts' expectations of $42.88 billion. BP had a return on equity of 9.08% and a net margin of 0.29%.BP's revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 EPS. As a group, sell-side analysts expect that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Increases Dividend

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. TD Cowen boosted their price objective on BP from $34.00 to $37.00 and gave the stock a "hold" rating in a report on Wednesday, August 6th. Wells Fargo & Company boosted their price objective on BP from $27.00 to $32.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Berenberg Bank raised BP from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 7th. DZ Bank raised BP from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. Finally, BNP Paribas raised BP from a "neutral" rating to an "outperform" rating in a report on Monday, September 15th. Three analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $41.77.

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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