BP p.l.c. (NYSE:BP) Sees Significant Growth in Short Interest

Posted by Defense World Staff on Sep 18th, 2023

BP p.l.c. (NYSE:BP – Get Free Report) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 5,400,000 shares, a growth of 12.0% from the August 15th total of 4,820,000 shares. Based on an average trading volume of 6,790,000 shares, the short-interest ratio is currently 0.8 days. Approximately 0.2% of the shares of the company are sold short.

BP Price Performance

NYSE:BP opened at $38.75 on Monday. The business’s 50-day moving average is $36.95 and its 200 day moving average is $37.05. The company has a current ratio of 1.17, a quick ratio of 0.88 and a debt-to-equity ratio of 0.55. BP has a 12 month low of $27.20 and a 12 month high of $41.38. The company has a market capitalization of $111.82 billion, a P/E ratio of 6.34, a P/E/G ratio of 1.09 and a beta of 0.75.

BP (NYSE:BP – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The oil and gas exploration company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.28). BP had a return on equity of 24.93% and a net margin of 7.95%. The company had revenue of $49.48 billion for the quarter, compared to the consensus estimate of $62.24 billion. During the same period in the previous year, the firm earned $2.61 earnings per share. On average, equities research analysts forecast that BP will post 5.41 earnings per share for the current fiscal year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, August 11th will be paid a dividend of $0.4362 per share. This is a boost from BP’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, August 10th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.50%. BP’s dividend payout ratio is currently 28.15%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Miller Wealth Advisors LLC grew its stake in shares of BP by 2,828.0% during the second quarter. Miller Wealth Advisors LLC now owns 732 shares of the oil and gas exploration company’s stock valued at $26,000 after buying an additional 707 shares during the last quarter. Turim 21 Investimentos Ltda. bought a new position in shares of BP during the first quarter valued at approximately $30,000. KB Financial Partners LLC bought a new position in shares of BP during the first quarter valued at approximately $41,000. Ellevest Inc. boosted its holdings in shares of BP by 191.3% in the first quarter. Ellevest Inc. now owns 1,139 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 748 shares during the period. Finally, Field & Main Bank purchased a new stake in shares of BP in the second quarter valued at approximately $57,000. Institutional investors own 11.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com started coverage on shares of BP in a research report on Friday, August 18th. They issued a “buy” rating on the stock. Piper Sandler cut their price target on BP from $46.00 to $42.00 in a research note on Tuesday, June 13th. Finally, TD Securities upped their price objective on BP from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, BP currently has an average rating of “Moderate Buy” and an average price target of $366.08.

View Our Latest Stock Analysis on BP

BP Company Profile

(Get Free Report)

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.