Sanders Morris Harris LLC Purchases New Stake in BP p.l.c. $BP

Key Points

• Sanders Morris Harris LLC acquired 47,073 BP shares worth approximately $2.07 million during the third quarter, while other institutional investors also initiated or increased positions. Institutional ownership stands at 11.01%.
• Analysts maintain a generally positive outlook, with BP receiving a “Moderate Buy” consensus rating and an average price target of $48.44; HSBC raised its target to $51.30.
• BP’s improving balance sheet and stronger refining and upstream performance are positive catalysts, but potential third-quarter impairments of up to $4.5 billion—mainly in gas and low-carbon assets—remain a risk.

Sanders Morris Harris LLC acquired a new position in shares of BP p.l.c. (NYSE:BP - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 47,073 shares of the oil and gas exploration company's stock, valued at approximately $2,071,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. XY Planning Network Inc. purchased a new position in BP during the 3rd quarter valued at about $221,000. Affinity Capital Advisors LLC purchased a new stake in shares of BP in the 3rd quarter worth approximately $206,000. Forvis Mazars Wealth Advisors LLC boosted its stake in shares of BP by 14.7% during the third quarter. Forvis Mazars Wealth Advisors LLC now owns 12,292 shares of the oil and gas exploration company's stock valued at $541,000 after purchasing an additional 1,573 shares in the last quarter. Accel Wealth Management boosted its stake in shares of BP by 9.4% during the third quarter. Accel Wealth Management now owns 8,349 shares of the oil and gas exploration company's stock valued at $367,000 after purchasing an additional 720 shares in the last quarter. Finally, Sax Wealth Advisors LLC purchased a new position in BP during the third quarter valued at approximately $235,000. 11.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on BP shares. Wall Street Zen upgraded BP from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 18th. Oppenheimer started coverage on BP in a report on Thursday, October 1st. They issued an "outperform" rating on the stock. HSBC upgraded BP from a "hold" rating to a "buy" rating and lifted their price target for the company from $46.00 to $51.30 in a report on Friday, September 25th. Zacks Research upgraded BP from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 8th. Finally, Morgan Stanley restated an "overweight" rating on shares of BP in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $48.44.

Key Headlines Impacting BP

Here are the key news stories impacting BP this week:

• Positive Sentiment: BP expects third-quarter net debt of approximately $13.5 billion-$14.5 billion, down from $22.3 billion in the second quarter. The reduction reportedly brings its 2027 debt target forward and was viewed favorably by UBS, which estimates debt could come in $4 billion below its prior forecast and retains a “buy” rating with a 700p price target. UBS raises BP forecasts as debt set to fall $4 billion below expectations
• Positive Sentiment: Refining margins are expected to average about $46.7 per barrel, while gas trading and stronger-than-expected upstream production should support third-quarter earnings despite weaker crude prices. BP Unveils Q3'26 Outlook With Lower Debt & Stronger Refining Margins
• Positive Sentiment: Higher oil prices, linked partly to Middle East supply and security concerns, are improving the backdrop for BP’s upstream business. Analysts at Erste Group also raised their BP earnings forecasts to $7.38 per share for fiscal 2026 and $5.04 for fiscal 2027. BP earnings estimate revisions
• Neutral Sentiment: BP’s shares are at a 52-week high, prompting investors to assess whether the improved balance sheet and energy-market conditions can support further gains after the strong recovery. BP Hits Fresh High: Is There Still Room to Run?
• Neutral Sentiment: New CEO Meg O’Neill is expected to present an updated strategy in December, giving investors a potential catalyst but also leaving uncertainty about BP’s portfolio direction. BP Plans Strategy Update as Balance Sheet Strengthens
• Negative Sentiment: BP expects up to $4.5 billion in impairments, primarily affecting gas and low-carbon assets. The charges highlight potential weakness in those businesses and partly offset the benefit of debt reduction and stronger refining performance. BP expects up to $4.5B in Q3 impairments

BP Stock Up 0.5%

Shares of BP traded up $0.24 during mid-day trading on Wednesday, hitting $48.77. 9,883,492 shares of the company traded hands, compared to its average volume of 10,833,230. The company has a market capitalization of $127.75 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 0.48 and a beta of 0.20. The company has a quick ratio of 0.95, a current ratio of 1.27 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average of $44.19 and a 200 day moving average of $43.55. BP p.l.c. has a 1-year low of $32.72 and a 1-year high of $48.98.

BP (NYSE:BP - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas exploration company reported $2.22 EPS for the quarter, topping the consensus estimate of $1.87 by $0.35. The business had revenue of $69.11 billion during the quarter, compared to the consensus estimate of $57.89 billion. BP had a net margin of 2.49% and a return on equity of 16.63%. The business's revenue for the quarter was up 106.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 earnings per share. Equities research analysts anticipate that BP p.l.c. will post 7.43 EPS for the current year.

BP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 14th were issued a $0.5196 dividend. This is an increase from BP's previous quarterly dividend of $0.4992. The ex-dividend date of this dividend was Friday, August 14th. This represents a $2.08 annualized dividend and a dividend yield of 4.3%. BP's payout ratio is currently 100.49%.

BP Profile

BP p.l.c. is a global integrated energy company headquartered in London, United Kingdom. Its operations span the exploration, development and production of oil and natural gas, as well as the processing, refining, transportation and marketing of energy products.

Through its businesses, BP supplies fuels for road transportation, aviation and marine use, along with lubricants marketed under the Castrol brand. The company also operates retail fuel and convenience locations and provides energy products and services to commercial and industrial customers.

BP has expanded its activities beyond traditional hydrocarbons to include lower-carbon businesses such as renewable power, bioenergy, electric-vehicle charging and hydrogen.

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