BP p.l.c. (NYSE:BP) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC cut its holdings in BP p.l.c. (NYSE:BP) by 98.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,001 shares of the oil and gas exploration company’s stock after selling 479,236 shares during the quarter. Janney Capital Management LLC’s holdings in BP were worth $296,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Altrius Capital Management Inc increased its position in shares of BP by 9.9% in the 3rd quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company’s stock valued at $7,338,000 after acquiring an additional 20,976 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of BP by 2.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 660,538 shares of the oil and gas exploration company’s stock worth $19,526,000 after purchasing an additional 14,436 shares during the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of BP during the third quarter worth about $857,000. Kornitzer Capital Management Inc. KS increased its holdings in BP by 5.4% in the 3rd 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 buying an additional 23,325 shares during the period. Finally, SG Americas Securities LLC raised its position in BP by 860.7% during the 3rd quarter. SG Americas Securities LLC now owns 66,464 shares of the oil and gas exploration company’s stock worth $2,086,000 after buying an additional 59,546 shares during the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BP shares. StockNews.com raised shares of BP from a “hold” rating to a “buy” rating in a report on Friday, January 10th. Wells Fargo & Company decreased their price objective on BP from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Wednesday, January 15th. Piper Sandler reduced their price target on BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Morgan Stanley lowered their price objective on BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Raymond James boosted their target price on shares of BP from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Eleven investment analysts have rated the stock with a hold rating, five have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, BP currently has an average rating of “Moderate Buy” and an average target price of $38.76.

BP Trading Down 1.2 %

Shares of BP stock opened at $31.14 on Thursday. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. BP p.l.c. has a twelve month low of $27.82 and a twelve month high of $40.40. The firm has a market capitalization of $84.03 billion, a PE ratio of 32.77, a P/E/G ratio of 2.25 and a beta of 0.64. The firm’s 50-day moving average price is $29.77 and its 200 day moving average price is $31.69.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. The firm had revenue of $47.25 billion for the quarter, compared to analyst estimates of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The business’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.15 earnings per share. On average, sell-side analysts predict that BP p.l.c. will post 3.35 EPS for the current fiscal year.

BP Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 8th were given a dividend of $0.48 per share. The ex-dividend date was Friday, November 8th. This represents a $1.92 dividend on an annualized basis and a yield of 6.17%. BP’s payout ratio is presently 200.00%.

BP Company 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.