Global Retirement Partners LLC Makes New $1.59 Million Investment in BP p.l.c. $BP

Global Retirement Partners LLC bought a new position in shares of BP p.l.c. (NYSE:BP - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 43,085 shares of the oil and gas exploration company's stock, valued at approximately $1,592,000.

Other hedge funds have also recently made changes to their positions in the company. First Horizon Corp boosted its position in BP by 8.1% in the 4th quarter. First Horizon Corp now owns 3,933 shares of the oil and gas exploration company's stock valued at $137,000 after buying an additional 296 shares during the period. Versant Capital Management Inc raised its stake in shares of BP by 4.8% during the second quarter. Versant Capital Management Inc now owns 7,953 shares of the oil and gas exploration company's stock valued at $294,000 after acquiring an additional 366 shares in the last quarter. United Community Bank boosted its holdings in shares of BP by 1.3% in the fourth quarter. United Community Bank now owns 29,456 shares of the oil and gas exploration company's stock valued at $1,023,000 after purchasing an additional 370 shares during the period. Atlas Brown Inc. grew its stake in BP by 1.0% in the second quarter. Atlas Brown Inc. now owns 36,925 shares of the oil and gas exploration company's stock worth $1,364,000 after purchasing an additional 370 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in BP by 7.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 5,738 shares of the oil and gas exploration company's stock worth $198,000 after purchasing an additional 374 shares during the period. 11.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BP has been the subject of several research reports. Argus upgraded BP from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a report on Monday, May 11th. Piper Sandler lifted their price objective on BP from $42.00 to $43.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Freedom Capital raised shares of BP from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 6th. Wells Fargo & Company cut their target price on shares of BP from $54.00 to $48.00 and set an "equal weight" rating on the stock in a research report on Wednesday, August 5th. Finally, Mizuho set a $53.00 price target on shares of BP in a report on Wednesday, August 5th. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $46.36.

BP Trading Up 0.8%

BP opened at $42.86 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69. The firm has a market cap of $112.26 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 0.58 and a beta of 0.15. BP p.l.c. has a 12 month low of $32.72 and a 12 month high of $48.27. The stock has a fifty day moving average price of $41.01 and a 200-day moving average price of $42.22.

BP (NYSE:BP - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.87 by $0.35. BP had a return on equity of 16.63% and a net margin of 2.49%.The company had revenue of $69.11 billion for the quarter, compared to the consensus estimate of $57.89 billion. During the same quarter last year, the company earned $0.90 earnings per share. The firm's revenue for the quarter was up 106.1% compared to the same quarter last year. As a group, equities research analysts anticipate that BP p.l.c. will post 6.04 earnings per share for the current fiscal year.

BP Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 14th will be given a dividend of $0.5196 per share. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from BP's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.8%. BP's dividend payout ratio is currently 100.49%.

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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