Summit Financial LLC Buys 3,084 Shares of BP p.l.c. (NYSE:BP)

Summit Financial LLC boosted its stake in BP p.l.c. (NYSE:BP) by 17.8% in the fourth quarter, HoldingsChannel reports. The firm owned 20,392 shares of the oil and gas exploration company’s stock after acquiring an additional 3,084 shares during the period. Summit Financial LLC’s holdings in BP were worth $603,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IHT Wealth Management LLC grew its holdings in shares of BP by 4.8% in the 3rd quarter. IHT Wealth Management LLC now owns 14,123 shares of the oil and gas exploration company’s stock valued at $444,000 after buying an additional 652 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of BP by 3.8% in the third quarter. Sunbelt Securities Inc. now owns 11,459 shares of the oil and gas exploration company’s stock worth $360,000 after acquiring an additional 415 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of BP by 3.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 343,880 shares of the oil and gas exploration company’s stock worth $10,795,000 after purchasing an additional 12,700 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of BP by 4.5% during the 3rd quarter. TD Private Client Wealth LLC now owns 50,333 shares of the oil and gas exploration company’s stock valued at $1,580,000 after purchasing an additional 2,187 shares in the last quarter. Finally, Anchor Investment Management LLC grew its position in shares of BP by 58.7% in the 3rd quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after purchasing an additional 1,154 shares during the period. Institutional investors own 11.01% of the company’s stock.

BP Stock Up 0.1 %

BP opened at $33.84 on Thursday. The stock’s fifty day simple moving average is $33.12 and its 200 day simple moving average is $31.39. BP p.l.c. has a 1-year low of $27.82 and a 1-year high of $40.40. The stock has a market cap of $91.87 billion, a PE ratio of 423.05, a price-to-earnings-growth ratio of 1.12 and a beta of 0.58. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70.

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

BP Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, February 21st were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.67%. BP’s dividend payout ratio (DPR) is currently 2,375.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BP shares. Piper Sandler cut their price target on shares of BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. StockNews.com lowered shares of BP from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Morgan Stanley cut their price target on BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Wolfe Research set a $50.00 price target on shares of BP in a research note on Tuesday, January 14th. Finally, DZ Bank downgraded shares of BP from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, two have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.48.

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.