EverSource Wealth Advisors LLC Sells 4,004 Shares of BP p.l.c. (NYSE:BP)

EverSource Wealth Advisors LLC cut its position in shares of BP p.l.c. (NYSE:BP) by 29.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,423 shares of the oil and gas exploration company’s stock after selling 4,004 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in BP were worth $279,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in BP. United Community Bank raised its stake in shares of BP by 11.5% in the fourth quarter. United Community Bank now owns 9,232 shares of the oil and gas exploration company’s stock valued at $273,000 after purchasing an additional 950 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of BP by 28.0% during the 4th quarter. Jones Financial Companies Lllp now owns 93,615 shares of the oil and gas exploration company’s stock worth $2,767,000 after acquiring an additional 20,491 shares during the period. SVB Wealth LLC acquired a new stake in shares of BP during the 4th quarter valued at about $588,000. Altrius Capital Management Inc raised its position in BP by 16.6% in the fourth quarter. Altrius Capital Management Inc now owns 272,527 shares of the oil and gas exploration company’s stock worth $8,056,000 after purchasing an additional 38,751 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in BP by 30.1% during the fourth quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company’s stock worth $14,040,000 after purchasing an additional 110,019 shares during the period. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Trading Up 3.3 %

Shares of BP opened at $33.42 on Friday. The stock’s fifty day simple moving average is $32.39 and its 200-day simple moving average is $31.24. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $89.48 billion, a PE ratio of 417.85, a price-to-earnings-growth ratio of 1.12 and a beta of 0.58. BP p.l.c. has a 12-month low of $27.82 and a 12-month high of $40.40.

BP (NYSE:BP) last issued its earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. As a group, research analysts predict that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be given a $0.48 dividend. The ex-dividend date is Friday, February 21st. This represents a $1.92 annualized dividend and a dividend yield of 5.74%. BP’s dividend payout ratio is currently 2,375.00%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BP. Piper Sandler lowered their price objective on BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Morgan Stanley dropped their price objective on BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company upped their target price on shares of BP from $30.00 to $37.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 12th. StockNews.com downgraded shares of BP from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Finally, Wolfe Research set a $50.00 price objective on shares of BP in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, three have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, BP has an average rating of “Hold” and an average target price of $38.26.

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.