TD Private Client Wealth LLC Boosts Holdings in BP p.l.c. $BP

Key Points

• TD Private Client Wealth LLC increased its stake in BP p.l.c. by 14.6% during the 2nd quarter, owning 57,784 shares worth approximately $1,729,000 in total.
• Analysts have raised their price targets for BP, with Raymond James Financial increasing theirs from $36.00 to $40.00, resulting in an "outperform" rating and an average price target of $42.05 across the board.
• BP recently declared a quarterly dividend of $0.4942, up from the previous $0.48, providing an annualized yield of 5.6%.

TD Private Client Wealth LLC lifted its stake in BP p.l.c. (NYSE:BP - Free Report) by 14.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,784 shares of the oil and gas exploration company's stock after purchasing an additional 7,361 shares during the period. TD Private Client Wealth LLC's holdings in BP were worth $1,729,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC lifted its position in BP by 2,250.0% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 940 shares of the oil and gas exploration company's stock valued at $32,000 after acquiring an additional 900 shares during the period. Missouri Trust & Investment Co lifted its position in BP by 400.0% during the 1st quarter. Missouri Trust & Investment Co now owns 1,000 shares of the oil and gas exploration company's stock valued at $34,000 after acquiring an additional 800 shares during the period. GW&K Investment Management LLC lifted its position in BP by 178.0% during the 1st quarter. GW&K Investment Management LLC now owns 1,034 shares of the oil and gas exploration company's stock valued at $35,000 after acquiring an additional 662 shares during the period. Mascagni Wealth Management Inc. purchased a new position in BP during the 4th quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in BP by 580.8% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,158 shares of the oil and gas exploration company's stock valued at $73,000 after acquiring an additional 1,841 shares during the period. 11.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BP. Raymond James Financial lifted their price target on shares of BP from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday. Melius Research initiated coverage on shares of BP in a research note on Wednesday, August 20th. They set a "buy" rating and a $66.00 price objective for the company. Berenberg Bank upgraded shares of BP from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 7th. TD Cowen raised their price objective on shares of BP from $34.00 to $37.00 and gave the company a "hold" rating in a research note on Wednesday, August 6th. Finally, Scotiabank upgraded shares of BP from a "sector perform" rating to a "sector outperform" rating and set a $42.00 price objective for the company in a research note on Thursday, August 14th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, BP presently has an average rating of "Moderate Buy" and an average price target of $42.05.

BP Stock Performance

Shares of BP stock opened at $35.27 on Friday. The company has a 50 day moving average price of $33.92 and a 200-day moving average price of $31.54. BP p.l.c. has a 52 week low of $25.22 and a 52 week high of $35.54. The firm has a market capitalization of $92.90 billion, a PE ratio of 167.98, a P/E/G ratio of 1.82 and a beta of 0.61. The company has a quick ratio of 0.92, a current ratio of 1.21 and a debt-to-equity ratio of 0.68.

BP (NYSE:BP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The oil and gas exploration company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.22. BP had a net margin of 0.29% and a return on equity of 9.08%. The firm had revenue of $46.63 billion during the quarter, compared to analyst estimates of $42.88 billion. During the same period in the previous year, the business posted $1.00 earnings per share. The business's revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 15th were paid a $0.4942 dividend. This is a boost from BP's previous quarterly dividend of $0.48. This represents a $1.98 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, August 15th. BP's dividend payout ratio (DPR) is presently 942.86%.

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.

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