Asset Planning Inc Buys Shares of 1,350 BP p.l.c. (NYSE:BP)

Asset Planning Inc purchased a new position in shares of BP p.l.c. (NYSE:BP) during the fourth quarter, HoldingsChannel reports. The firm purchased 1,350 shares of the oil and gas exploration company’s stock, valued at approximately $40,000.

A number of other hedge funds also recently modified their holdings of BP. Quantbot Technologies LP acquired a new position in shares of BP during the third quarter worth $5,089,000. Integrated Investment Consultants LLC acquired a new position in shares of BP during the third quarter worth $857,000. Avior Wealth Management LLC lifted its holdings in shares of BP by 83.3% during the fourth quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company’s stock worth $1,577,000 after purchasing an additional 24,252 shares during the period. Kornitzer Capital Management Inc. KS lifted its holdings in shares of BP by 5.4% during the third quarter. Kornitzer Capital Management Inc. KS now owns 454,980 shares of the oil and gas exploration company’s stock worth $14,282,000 after purchasing an additional 23,325 shares during the period. Finally, Altrius Capital Management Inc lifted its holdings in shares of BP by 9.9% during the third quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company’s stock worth $7,338,000 after purchasing an additional 20,976 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. DZ Bank downgraded shares of BP from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley lowered their target price on shares of BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Piper Sandler lowered their target price on shares of BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. StockNews.com downgraded shares of BP from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Raymond James lifted their target price on shares of BP from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.64.

BP Trading Up 1.5 %

NYSE:BP opened at $35.01 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.22 and a quick ratio of 0.94. The firm has a 50-day moving average of $30.79 and a 200-day moving average of $31.38. The company has a market cap of $93.72 billion, a PE ratio of 36.85, a PEG ratio of 2.26 and a beta of 0.64. BP p.l.c. has a one year low of $27.82 and a one year high of $40.40.

BP (NYSE:BP) last posted its earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.12). BP had a return on equity of 12.91% and a net margin of 1.36%. As a group, equities research analysts expect that BP p.l.c. will post 3.35 EPS for the current fiscal year.

BP Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, February 21st will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 5.48%. The ex-dividend date is Friday, February 21st. BP’s dividend payout ratio (DPR) is presently 200.00%.

About BP

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.