Kingswood Wealth Advisors LLC Has $2.33 Million Stake in BP p.l.c. (NYSE:BP)

Kingswood Wealth Advisors LLC lifted its stake in BP p.l.c. (NYSE:BP - Free Report) by 333.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,980 shares of the oil and gas exploration company's stock after acquiring an additional 53,054 shares during the period. Kingswood Wealth Advisors LLC's holdings in BP were worth $2,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in BP. Bank of New York Mellon Corp grew its holdings in BP by 30.1% during the fourth quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company's stock worth $14,040,000 after acquiring an additional 110,019 shares during the period. Altrius Capital Management Inc raised its holdings in shares of BP by 16.6% in the 4th quarter. Altrius Capital Management Inc now owns 272,527 shares of the oil and gas exploration company's stock worth $8,056,000 after purchasing an additional 38,751 shares in the last quarter. SVB Wealth LLC bought a new stake in BP during the fourth quarter worth approximately $588,000. Jones Financial Companies Lllp increased its holdings in shares of BP by 28.0% in the fourth quarter. Jones Financial Companies Lllp now owns 93,615 shares of the oil and gas exploration company's stock valued at $2,767,000 after buying an additional 20,491 shares in the last quarter. Finally, United Community Bank boosted its stake in shares of BP by 11.5% during the 4th quarter. United Community Bank now owns 9,232 shares of the oil and gas exploration company's stock worth $273,000 after acquiring an additional 950 shares in the last quarter. Institutional investors and hedge funds own 11.01% of the company's stock.

BP Stock Down 1.5%

BP stock traded down $0.46 during mid-day trading on Thursday, hitting $31.12. The stock had a trading volume of 8,624,811 shares, compared to its average volume of 9,853,065. BP p.l.c. has a 1-year low of $25.22 and a 1-year high of $37.39. The company has a fifty day moving average of $29.10 and a 200 day moving average of $30.66. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $84.49 billion, a price-to-earnings ratio of -67.65, a PEG ratio of 2.05 and a beta of 0.54.

BP (NYSE:BP - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The oil and gas exploration company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.03). The business had revenue of $46.91 billion for the quarter, compared to the consensus estimate of $40.12 billion. BP had a negative net margin of 0.62% and a positive return on equity of 9.51%. BP's revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 EPS. On average, equities analysts expect that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 16th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date of this dividend is Friday, May 16th. BP's dividend payout ratio is presently -413.04%.

Wall Street Analysts Forecast Growth

BP has been the subject of several analyst reports. Jefferies Financial Group set a $29.00 target price on BP and gave the company a "hold" rating in a report on Monday, May 19th. UBS Group lowered shares of BP from a "buy" rating to a "neutral" rating in a research note on Thursday, April 10th. Piper Sandler dropped their target price on shares of BP from $35.00 to $32.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. upgraded shares of BP from an "underweight" rating to a "neutral" rating in a research report on Thursday, February 20th. Finally, Morgan Stanley cut shares of BP from an "equal weight" rating to an "underweight" rating and set a $26.50 price objective on the stock. in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $35.28.

BP 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.