Beaumont Financial Advisors LLC Cuts Stock Position in BP p.l.c. (NYSE:BP)

Beaumont Financial Advisors LLC decreased its holdings in BP p.l.c. (NYSE:BP) by 5.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 386,296 shares of the oil and gas exploration company’s stock after selling 20,599 shares during the period. Beaumont Financial Advisors LLC’s holdings in BP were worth $12,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BP. GAMMA Investing LLC raised its holdings in shares of BP by 27.0% in the 1st quarter. GAMMA Investing LLC now owns 2,755 shares of the oil and gas exploration company’s stock valued at $104,000 after purchasing an additional 586 shares in the last quarter. OLD Mission Capital LLC lifted its holdings in BP by 145.5% during the 4th quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock worth $23,233,000 after buying an additional 388,931 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of BP during the 2nd quarter worth about $2,620,000. LRI Investments LLC purchased a new position in BP in the first quarter valued at approximately $32,000. Finally, Kornitzer Capital Management Inc. KS raised its stake in BP by 4.6% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 431,655 shares of the oil and gas exploration company’s stock worth $15,583,000 after acquiring an additional 19,140 shares in the last quarter. 11.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on BP. Redburn Atlantic lowered BP from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 24th. StockNews.com raised BP from a “hold” rating to a “buy” rating in a report on Friday, October 4th. Evercore ISI raised BP to a “strong-buy” rating in a research note on Wednesday, July 31st. HSBC downgraded BP from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, Wells Fargo & Company dropped their price target on shares of BP from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, BP presently has an average rating of “Moderate Buy” and a consensus price target of $42.98.

BP Stock Performance

Shares of BP opened at $32.34 on Friday. BP p.l.c. has a 12-month low of $30.52 and a 12-month high of $40.84. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $32.87 and a two-hundred day moving average of $35.54. The stock has a market cap of $8.90 billion, a P/E ratio of 12.73, a PEG ratio of 4.25 and a beta of 0.64.

BP (NYSE:BP) last released its earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.08. The company had revenue of $47.30 billion for the quarter, compared to analyst estimates of $55.82 billion. BP had a net margin of 3.60% and a return on equity of 13.83%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS. As a group, research analysts predict that BP p.l.c. will post 3.76 EPS for the current fiscal year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 9th were paid a $0.48 dividend. This is a positive change from BP’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 5.94%. The ex-dividend date was Friday, August 9th. BP’s dividend payout ratio is presently 74.80%.

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.