Janney Capital Management LLC Has $18.81 Million Stock Position in BP p.l.c. (NYSE:BP)

Janney Capital Management LLC lessened its position in shares of BP p.l.c. (NYSE:BP) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 499,190 shares of the oil and gas exploration company’s stock after selling 17,152 shares during the period. BP makes up approximately 1.3% of Janney Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Janney Capital Management LLC’s holdings in BP were worth $18,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. First United Bank & Trust bought a new stake in BP in the 4th quarter valued at about $33,000. Versant Capital Management Inc bought a new stake in BP during the fourth quarter worth $35,000. Guardian Wealth Management Inc. increased its stake in shares of BP by 576.0% in the 4th quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock valued at $40,000 after purchasing an additional 962 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new position in shares of BP during the 4th quarter worth $46,000. Finally, Harbor Investment Advisory LLC lifted its position in shares of BP by 200.8% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,588 shares of the oil and gas exploration company’s stock worth $56,000 after buying an additional 1,060 shares during the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BP. Erste Group Bank reissued a “hold” rating on shares of BP in a report on Friday, June 14th. StockNews.com downgraded shares of BP from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 29th. Raymond James boosted their price objective on BP from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Piper Sandler increased their target price on BP from $40.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Finally, Wells Fargo & Company boosted their price target on BP from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $43.88.

BP Trading Up 0.2 %

NYSE:BP traded up $0.08 on Friday, reaching $37.05. 4,845,263 shares of the stock traded hands, compared to its average volume of 5,585,646. The firm has a market capitalization of $103.22 billion, a price-to-earnings ratio of 11.61, a price-to-earnings-growth ratio of 1.96 and a beta of 0.65. BP p.l.c. has a 1-year low of $33.52 and a 1-year high of $40.84. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average is $36.77 and its 200-day moving average is $36.57.

BP (NYSE:BP) last released its earnings results on Tuesday, May 7th. The oil and gas exploration company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.06). BP had a net margin of 4.51% and a return on equity of 13.49%. The firm had revenue of $48.88 billion during the quarter, compared to analyst estimates of $53.65 billion. During the same quarter in the previous year, the firm earned $1.66 EPS. BP’s quarterly revenue was down 13.0% on a year-over-year basis. Equities research analysts anticipate that BP p.l.c. will post 4.72 EPS for the current fiscal year.

BP Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, May 17th were paid a $0.4362 dividend. This represents a $1.74 annualized dividend and a yield of 4.71%. The ex-dividend date was Thursday, May 16th. BP’s dividend payout ratio (DPR) is presently 53.92%.

About BP

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.