NewEdge Advisors LLC Has $4.54 Million Holdings in BP p.l.c. $BP

NewEdge Advisors LLC lessened its holdings in BP p.l.c. (NYSE:BP - Free Report) by 40.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,000 shares of the oil and gas exploration company's stock after selling 84,615 shares during the quarter. NewEdge Advisors LLC's holdings in BP were worth $4,545,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Financial Life Planners purchased a new stake in BP in the 1st quarter valued at $39,000. Gill Capital Partners LLC lifted its holdings in shares of BP by 53.2% in the 2nd quarter. Gill Capital Partners LLC now owns 1,376 shares of the oil and gas exploration company's stock valued at $51,000 after buying an additional 478 shares during the period. Trust Co. of Vermont acquired a new stake in BP during the 2nd quarter worth approximately $73,000. JNBA Financial Advisors boosted its holdings in shares of BP by 2,804.8% in the 2nd quarter. JNBA Financial Advisors now owns 2,440 shares of the oil and gas exploration company's stock valued at $90,000 after buying an additional 2,356 shares in the last quarter. Finally, Root Financial Partners LLC increased its stake in BP by 66.8% in the 4th quarter. Root Financial Partners LLC now owns 2,544 shares of the oil and gas exploration company's stock valued at $88,000 after buying an additional 1,019 shares during the period. 11.01% of the stock is currently owned by institutional investors.

BP Trading Down 0.5%

Shares of BP stock opened at $45.88 on Tuesday. The company has a 50-day moving average of $42.92 and a two-hundred day moving average of $43.05. BP p.l.c. has a 1-year low of $32.72 and a 1-year high of $48.27. The firm has a market cap of $120.18 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 0.54 and a beta of 0.15. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.27 and a quick ratio of 0.95.

BP (NYSE:BP - Get Free Report) last announced 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. The firm had revenue of $69.11 billion during the quarter, compared to analysts' expectations of $57.89 billion. BP had a net margin of 2.49% and a return on equity of 16.63%. The business's quarterly revenue was up 106.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 earnings per share. On average, analysts predict that BP p.l.c. will post 6.58 EPS for the current year.

BP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 14th will be given a $0.5196 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.5%. This is a boost from BP's previous quarterly dividend of $0.50. BP's payout ratio is currently 100.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler raised their price target on shares of BP from $43.00 to $46.00 and gave the company a "neutral" rating in a report on Thursday, September 3rd. Wall Street Zen upgraded BP from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 18th. Mizuho set a $53.00 price target on shares of BP in a report on Wednesday, August 5th. Weiss Ratings raised BP from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of BP in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.59.

About BP

BP p.l.c. is a global integrated energy company headquartered in London, England. Its operations span the energy value chain, including exploration and production of oil and natural gas, refining, fuel marketing, energy trading and transportation. BP also produces and markets lubricants through its Castrol brand and supplies fuels through retail networks operating under brands such as BP, Aral and ampm.

The company has operations and business relationships across multiple regions, including the Americas, Europe, the Middle East, Africa and Asia-Pacific.

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