Gabelli Funds LLC Acquires 22,100 Shares of BP p.l.c. $BP

Key Points

• Gabelli Funds LLC increased its BP stake by 6.0% in the fourth quarter, buying 22,100 more shares and bringing its total holdings to 392,400 shares valued at about $13.63 million.
• BP reported stronger-than-expected quarterly results, posting EPS of $1.24 versus the $1.00 estimate and revenue of $52.26 billion, up 11.4% year over year.
• BP continues to attract mixed but mostly positive Wall Street sentiment, with several analysts upgrading the stock and a consensus rating of “Moderate Buy” alongside a $46.14 price target.

Gabelli Funds LLC lifted its holdings in shares of BP p.l.c. (NYSE:BP - Free Report) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 392,400 shares of the oil and gas exploration company's stock after purchasing an additional 22,100 shares during the period. Gabelli Funds LLC's holdings in BP were worth $13,628,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BP. Strategic Advocates LLC bought a new stake in shares of BP during the 3rd quarter valued at about $25,000. YANKCOM Partnership boosted its position in shares of BP by 1,068.3% during the 4th quarter. YANKCOM Partnership now owns 958 shares of the oil and gas exploration company's stock valued at $33,000 after purchasing an additional 876 shares in the last quarter. Triumph Capital Management bought a new stake in shares of BP during the 3rd quarter valued at about $43,000. LRI Investments LLC boosted its position in shares of BP by 76.2% during the 4th quarter. LRI Investments LLC now owns 1,276 shares of the oil and gas exploration company's stock valued at $44,000 after purchasing an additional 552 shares in the last quarter. Finally, Ameriflex Group Inc. boosted its position in shares of BP by 100.0% during the 3rd quarter. Ameriflex Group Inc. now owns 1,300 shares of the oil and gas exploration company's stock valued at $45,000 after purchasing an additional 650 shares in the last quarter. Institutional investors own 11.01% of the company's stock.

BP Stock Up 1.1%

BP stock opened at $46.18 on Wednesday. BP p.l.c. has a twelve month low of $28.41 and a twelve month high of $48.27. The company has a quick ratio of 0.87, a current ratio of 1.22 and a debt-to-equity ratio of 0.68. The stock's 50 day moving average is $45.24 and its 200-day moving average is $39.50. The firm has a market capitalization of $120.93 billion, a PE ratio of 38.48, a P/E/G ratio of 0.58 and a beta of 0.18.

BP (NYSE:BP - Get Free Report) last posted its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.24. BP had a return on equity of 12.06% and a net margin of 1.62%.The company had revenue of $52.26 billion for the quarter, compared to analyst estimates of $48.50 billion. During the same quarter last year, the company earned $0.53 earnings per share. The company's revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts expect that BP p.l.c. will post 5.09 EPS for the current fiscal year.

BP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, May 15th will be given a dividend of $0.4992 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, May 15th. BP's dividend payout ratio (DPR) is presently 165.00%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank Of Canada upgraded BP from a "sector perform" rating to an "outperform" rating in a report on Monday, May 11th. Morgan Stanley upgraded BP from an "equal weight" rating to an "overweight" rating and set a $49.40 price target on the stock in a report on Tuesday, March 24th. Piper Sandler increased their price target on BP from $44.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, March 12th. UBS Group upgraded BP from a "neutral" rating to a "buy" rating in a report on Wednesday, April 15th. Finally, Weiss Ratings upgraded BP from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, March 24th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, BP has an average rating of "Moderate Buy" and a consensus price target of $46.14.

Key BP News

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP approved a subsea pump installation at its Thunder Horse field, a move aimed at boosting production and improving output from one of its key offshore assets. bp approves subsea pump installation at Thunder Horse to boost production
• Positive Sentiment: BP pulse partnered with Presto to expand DC fast-charging access, reinforcing BP’s push into EV charging and broader energy transition services. Presto, bp pulse Partner to Expand DC Fast Charging Access
• Positive Sentiment: BP is promoting its rewards Visa card with a summer fuel discount offer, which could help attract new customers and drive traffic to bp and Amoco stations. UPDATE - New bp rewards Visa® cardmembers save 50 cents per gallon on fuel
• Neutral Sentiment: Analysts and commentary continue to argue BP may still look undervalued despite this year’s oil-driven rally, reflecting optimism around valuation but also uncertainty about what could limit further upside. Up 30% this year, the BP share price still looks undervalued despite oil surging. What’s the catch?
• Negative Sentiment: BP still has not reached a deal with the union at its Whiting, Indiana refinery, and the lockout has dragged on for months, keeping labor disruption and operational uncertainty in focus. BP fails to reach deal with union as Indiana refinery lockout drags on
• Negative Sentiment: BP’s Whiting statement said negotiations are still ongoing after the union left talks, signaling that the refinery dispute remains unresolved. bp Whiting Statement: USW leaves negotiations and delays progress. bp Whiting committed to staying at the table.

About BP

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world's largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company's core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.

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