BP p.l.c. (NYSE:BP) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management lessened its holdings in BP p.l.c. (NYSE:BP) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,428 shares of the oil and gas exploration company’s stock after selling 2,084 shares during the period. Meritage Portfolio Management’s holdings in BP were worth $3,116,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BP. Independence Bank of Kentucky grew its holdings in BP by 1,867.9% during the 4th quarter. Independence Bank of Kentucky now owns 7,970 shares of the oil and gas exploration company’s stock valued at $236,000 after buying an additional 7,565 shares during the last quarter. Nilsine Partners LLC boosted its stake in shares of BP by 24.2% during the fourth quarter. Nilsine Partners LLC now owns 22,147 shares of the oil and gas exploration company’s stock valued at $655,000 after acquiring an additional 4,321 shares during the last quarter. Avior Wealth Management LLC raised its stake in BP by 83.3% in the 4th quarter. Avior Wealth Management LLC now owns 53,360 shares of the oil and gas exploration company’s stock valued at $1,577,000 after purchasing an additional 24,252 shares during the last quarter. Integrated Investment Consultants LLC lifted its holdings in BP by 6.8% in the 4th quarter. Integrated Investment Consultants LLC now owns 29,165 shares of the oil and gas exploration company’s stock valued at $862,000 after purchasing an additional 1,860 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its holdings in shares of BP by 3.0% during the fourth quarter. Arkadios Wealth Advisors now owns 47,003 shares of the oil and gas exploration company’s stock worth $1,389,000 after buying an additional 1,387 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.

BP Price Performance

BP stock opened at $31.67 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $85.46 billion, a P/E ratio of 33.33, a PEG ratio of 2.20 and a beta of 0.64. The firm has a fifty day moving average of $30.20 and a 200-day moving average of $31.41. BP p.l.c. has a 52-week low of $27.82 and a 52-week high of $40.40.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on BP shares. StockNews.com lowered shares of BP from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Piper Sandler lowered their price objective on BP from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company reduced their target price on BP from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada restated a “sector perform” rating on shares of BP in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group raised shares of BP to a “strong-buy” rating in a research report on Friday, October 11th. Twelve equities research analysts have rated the stock with a hold rating, four have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.76.

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.