Transcend Capital Advisors LLC Purchases 1,402 Shares of BP p.l.c. (NYSE:BP)

Transcend Capital Advisors LLC increased its position in shares of BP p.l.c. (NYSE:BP) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 39,205 shares of the oil and gas exploration company’s stock after acquiring an additional 1,402 shares during the period. Transcend Capital Advisors LLC’s holdings in BP were worth $1,388,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. New York State Common Retirement Fund increased its holdings in BP by 32.7% during the 3rd quarter. New York State Common Retirement Fund now owns 1,418,113 shares of the oil and gas exploration company’s stock worth $54,909,000 after acquiring an additional 349,766 shares during the period. Wedge Capital Management L L P NC increased its holdings in BP by 15.0% during the 4th quarter. Wedge Capital Management L L P NC now owns 500,704 shares of the oil and gas exploration company’s stock worth $17,725,000 after acquiring an additional 65,425 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in BP by 2.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 467,250 shares of the oil and gas exploration company’s stock worth $18,092,000 after acquiring an additional 11,000 shares during the period. Altrius Capital Management Inc grew its stake in BP by 0.4% in the 3rd quarter. Altrius Capital Management Inc now owns 184,220 shares of the oil and gas exploration company’s stock worth $7,133,000 after buying an additional 695 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. grew its stake in BP by 1.2% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 120,802 shares of the oil and gas exploration company’s stock worth $4,276,000 after buying an additional 1,381 shares in the last quarter. Institutional investors own 11.01% of the company’s stock.

BP Trading Down 0.4 %

NYSE BP traded down $0.15 during trading on Friday, hitting $39.47. The company had a trading volume of 6,807,166 shares, compared to its average volume of 11,577,858. The company has a current ratio of 1.21, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57. BP p.l.c. has a one year low of $33.52 and a one year high of $40.84. The company has a market cap of $111.16 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 2.71 and a beta of 0.68. The company’s fifty day moving average is $37.52 and its 200-day moving average is $36.53.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, February 6th. The oil and gas exploration company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.96 by $0.11. BP had a net margin of 7.15% and a return on equity of 16.00%. The business had revenue of $52.14 billion during the quarter, compared to analyst estimates of $53.14 billion. During the same period in the prior year, the business earned $1.59 EPS. The company’s revenue for the quarter was down 24.7% on a year-over-year basis. On average, sell-side analysts predict that BP p.l.c. will post 5.02 earnings per share for the current 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 issued a $0.4362 dividend. The ex-dividend date was Thursday, February 15th. This represents a $1.74 annualized dividend and a yield of 4.42%. BP’s dividend payout ratio (DPR) is presently 33.79%.

Analysts Set New Price Targets

A number of research firms have commented on BP. Jefferies Financial Group raised shares of BP from a “hold” rating to a “buy” rating and boosted their price target for the stock from $38.60 to $42.30 in a research note on Monday, March 4th. TD Securities boosted their price target on shares of BP from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Erste Group Bank raised shares of BP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Piper Sandler boosted their price target on shares of BP from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. Finally, Scotiabank upped their price objective on shares of BP from $45.00 to $47.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.