Atlas Brown Inc. Boosts Stake in BP p.l.c. (NYSE:BP)

Atlas Brown Inc. boosted its holdings in BP p.l.c. (NYSE:BPGet Rating) by 0.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 47,301 shares of the oil and gas exploration company’s stock after buying an additional 440 shares during the period. Atlas Brown Inc.’s holdings in BP were worth $1,341,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Butensky & Cohen Financial Security Inc. boosted its holdings in shares of BP by 0.5% during the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 98,656 shares of the oil and gas exploration company’s stock valued at $2,797,000 after purchasing an additional 450 shares during the last quarter. Boenning & Scattergood Inc. boosted its holdings in shares of BP by 1.9% during the 2nd quarter. Boenning & Scattergood Inc. now owns 20,854 shares of the oil and gas exploration company’s stock valued at $591,000 after purchasing an additional 387 shares during the last quarter. ACG Wealth bought a new position in shares of BP in the 2nd quarter valued at about $85,000. Silicon Valley Capital Partners bought a new position in shares of BP in the 2nd quarter valued at about $312,000. Finally, HYA Advisors Inc lifted its holdings in shares of BP by 3.9% in the 2nd quarter. HYA Advisors Inc now owns 18,757 shares of the oil and gas exploration company’s stock valued at $532,000 after acquiring an additional 699 shares during the last quarter. Hedge funds and other institutional investors own 9.22% of the company’s stock.

BP Trading Down 8.6 %

Shares of BP stock traded down $2.66 during trading hours on Friday, hitting $28.13. The company had a trading volume of 1,117,417 shares, compared to its average volume of 8,628,348. The company’s fifty day moving average is $30.43 and its 200 day moving average is $30.17. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.16 and a quick ratio of 0.85. BP p.l.c. has a fifty-two week low of $25.33 and a fifty-two week high of $34.30. The stock has a market capitalization of $88.33 billion, a PE ratio of -8.08, a price-to-earnings-growth ratio of 0.63 and a beta of 0.71.

BP (NYSE:BPGet Rating) last released its earnings results on Monday, August 1st. The oil and gas exploration company reported $2.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.99. The company had revenue of $67.87 billion for the quarter, compared to analyst estimates of $60.85 billion. BP had a negative net margin of 5.38% and a positive return on equity of 26.00%. The firm’s quarterly revenue was up 86.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.83 EPS. Research analysts expect that BP p.l.c. will post 8.39 earnings per share for the current fiscal year.

BP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, August 12th will be given a $0.3604 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This is an increase from BP’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.12%. BP’s dividend payout ratio is currently -40.57%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. TheStreet downgraded shares of BP from a “b” rating to a “c” rating in a research note on Monday, June 13th. StockNews.com raised shares of BP from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 11th. Wells Fargo & Company reduced their target price on shares of BP from $31.00 to $29.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 3rd. Piper Sandler raised their target price on shares of BP from $44.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, September 12th. Finally, Morgan Stanley lifted their price target on shares of BP from GBX 540 ($6.52) to GBX 566 ($6.84) in a report on Wednesday, August 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.16.

BP Company Profile

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BP p.l.c. engages in the energy business worldwide. It operates through Gas & Low Carbon Energy, Oil Production & Operations, Customers & Products, and Rosneft segments. It produces and trades in natural gas; offers biofuels; operates onshore and offshore wind power, and solar power generating facilities; and provides de-carbonization solutions and services, such as hydrogen and carbon capture and storage.

Further Reading

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Institutional Ownership by Quarter for BP (NYSE:BP)

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