BP p.l.c. (NYSE:BP) Stock Position Increased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its stake in shares of BP p.l.c. (NYSE:BP - Free Report) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 500,704 shares of the oil and gas exploration company's stock after buying an additional 65,425 shares during the period. Wedge Capital Management L L P NC's holdings in BP were worth $17,725,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BP. Summit Global Investments acquired a new position in shares of BP in the 3rd quarter valued at $504,000. Oak Family Advisors LLC lifted its stake in BP by 45.1% during the 3rd quarter. Oak Family Advisors LLC now owns 81,534 shares of the oil and gas exploration company's stock worth $3,157,000 after acquiring an additional 25,325 shares in the last quarter. Connolly Sarah T. acquired a new position in BP during the 3rd quarter worth about $203,000. Hexagon Capital Partners LLC lifted its stake in BP by 5.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 7,083 shares of the oil and gas exploration company's stock worth $274,000 after acquiring an additional 345 shares in the last quarter. Finally, Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in BP during the 3rd quarter worth about $200,000. Institutional investors and hedge funds own 11.01% of the company's stock.

BP Stock Performance

NYSE:BP traded up $0.38 during mid-day trading on Tuesday, reaching $39.29. 11,728,945 shares of the stock were exchanged, compared to its average volume of 9,574,355. The company has a 50 day simple moving average of $37.29 and a 200-day simple moving average of $36.50. The stock has a market capitalization of $110.65 billion, a P/E ratio of 7.72, a P/E/G ratio of 1.95 and a beta of 0.68. The company has a quick ratio of 0.94, a current ratio of 1.21 and a debt-to-equity ratio of 0.57. BP p.l.c. has a 1 year low of $33.52 and a 1 year high of $40.84.

BP (NYSE:BP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The oil and gas exploration company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.11. BP had a return on equity of 16.00% and a net margin of 7.15%. The company had revenue of $52.14 billion during the quarter, compared to analysts' expectations of $53.14 billion. During the same period last year, the firm earned $1.59 EPS. The firm's revenue for the quarter was down 24.7% on a year-over-year basis. Analysts anticipate that BP p.l.c. will post 4.94 earnings per share for the current fiscal year.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, February 16th were given a dividend of $0.4362 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.74 dividend on an annualized basis and a yield of 4.44%. BP's payout ratio is 33.79%.

Analysts Set New Price Targets

Several research firms recently issued reports on BP. Erste Group Bank raised BP from a "hold" rating to a "buy" rating in a research note on Wednesday, April 3rd. Wells Fargo & Company increased their target price on BP from $38.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 11th. Jefferies Financial Group upgraded BP from a "hold" rating to a "buy" rating and upped their price target for the stock from $38.60 to $42.30 in a report on Monday, March 4th. TD Securities upped their price target on BP from $41.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th. Finally, Raymond James upped their price target on BP from $42.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $43.72.

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.