BP p.l.c. (NYSE:BP) Stock Position Decreased by Harbor Investment Advisory LLC

Posted by Defense World Staff on Apr 3rd, 2023

Harbor Investment Advisory LLC lessened its holdings in shares of BP p.l.c. (NYSE:BP – Get Rating) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,725 shares of the oil and gas exploration company’s stock after selling 404 shares during the period. Harbor Investment Advisory LLC’s holdings in BP were worth $340,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cowa LLC lifted its stake in shares of BP by 10,274.3% in the 1st quarter. Cowa LLC now owns 2,070,297 shares of the oil and gas exploration company’s stock worth $609,000 after acquiring an additional 2,050,341 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of BP by 5.8% in the 4th quarter. Wedge Capital Management L L P NC now owns 798,481 shares of the oil and gas exploration company’s stock worth $27,891,000 after acquiring an additional 43,826 shares during the period. Janney Capital Management LLC acquired a new stake in shares of BP in the 3rd quarter worth approximately $19,718,000. New York State Common Retirement Fund lifted its stake in shares of BP by 359.8% in the 3rd quarter. New York State Common Retirement Fund now owns 619,298 shares of the oil and gas exploration company’s stock worth $17,681,000 after acquiring an additional 484,618 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of BP in the 3rd quarter worth approximately $16,192,000. 9.30% of the stock is owned by institutional investors and hedge funds.

BP Price Performance

Shares of BP stock opened at $37.94 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.09 and a quick ratio of 0.80. BP p.l.c. has a fifty-two week low of $25.36 and a fifty-two week high of $41.38. The firm has a fifty day moving average price of $38.04 and a two-hundred day moving average price of $34.84. The company has a market cap of $113.82 billion, a PE ratio of -60.22, a price-to-earnings-growth ratio of 0.85 and a beta of 0.73.

BP (NYSE:BP – Get Rating) last issued its quarterly earnings results on Tuesday, February 7th. The oil and gas exploration company reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.06). BP had a negative net margin of 1.00% and a positive return on equity of 34.96%. The company had revenue of $70.36 billion during the quarter, compared to the consensus estimate of $59.51 billion. Analysts expect that BP p.l.c. will post 6.57 EPS for the current year.

BP Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, February 17th were paid a $0.3966 dividend. The ex-dividend date was Thursday, February 16th. This represents a $1.59 dividend on an annualized basis and a yield of 4.18%. This is a positive change from BP’s previous quarterly dividend of $0.36. BP’s payout ratio is presently -249.20%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays increased their target price on shares of BP from GBX 700 ($8.60) to GBX 1,000 ($12.29) in a research note on Wednesday, February 8th. Scotiabank upgraded shares of BP from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $37.00 to $42.00 in a report on Tuesday, January 17th. JPMorgan Chase & Co. cut their price target on shares of BP from GBX 560 ($6.88) to GBX 540 ($6.63) in a report on Thursday, January 19th. TD Securities upgraded shares of BP from a “hold” rating to a “buy” rating and boosted their price target for the company from $40.00 to $44.00 in a report on Tuesday, February 7th. Finally, Raymond James boosted their price target on shares of BP from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $369.93.

BP Company Profile

(Get Rating)

BP Plc operates as an integrated oil and gas company. It operates through the following segments: Upstream, Downstream and Rosneft. The Upstream segment engages in the oil and natural gas exploration, field development and production, midstream transportation, storage and processing, and marketing and trade of natural gas, including liquefied natural gas and power, and natural gas liquids.