BP p.l.c. $BP Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC decreased its stake in shares of BP p.l.c. (NYSE:BP) by 22.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,751 shares of the oil and gas exploration company’s stock after selling 1,393 shares during the period. GAMMA Investing LLC’s holdings in BP were worth $142,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Corient IA LLC acquired a new position in shares of BP in the 1st quarter worth approximately $338,000. Kingswood Wealth Advisors LLC grew its stake in shares of BP by 333.1% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 68,980 shares of the oil and gas exploration company’s stock worth $2,332,000 after purchasing an additional 53,054 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of BP by 486.9% in the 1st quarter. Bank of New York Mellon Corp now owns 2,787,644 shares of the oil and gas exploration company’s stock worth $94,195,000 after purchasing an additional 2,312,687 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of BP by 2.5% in the 1st quarter. Gabelli Funds LLC now owns 358,800 shares of the oil and gas exploration company’s stock worth $12,124,000 after purchasing an additional 8,700 shares during the last quarter. Finally, Meritage Portfolio Management grew its stake in shares of BP by 54.7% in the 1st quarter. Meritage Portfolio Management now owns 163,147 shares of the oil and gas exploration company’s stock worth $5,513,000 after purchasing an additional 57,719 shares during the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Price Performance

NYSE BP opened at $34.74 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.21 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $91.49 billion, a PE ratio of 165.44, a price-to-earnings-growth ratio of 1.84 and a beta of 0.61. The company has a 50 day moving average price of $34.05 and a two-hundred day moving average price of $31.56. BP p.l.c. has a 12-month low of $25.22 and a 12-month high of $35.88.

BP (NYSE:BP) last posted its earnings results on Tuesday, August 5th. The oil and gas exploration company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.22. The firm had revenue of $46.63 billion during the quarter, compared to analysts’ expectations of $42.88 billion. BP had a net margin of 0.29% and a return on equity of 9.08%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. As a group, equities analysts predict that BP p.l.c. will post 3.53 earnings per share for the current fiscal year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 15th were paid a $0.4942 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 5.7%. This is a boost from BP’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, August 15th. BP’s dividend payout ratio is presently 942.86%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of BP from $27.00 to $32.00 and gave the stock an “equal weight” rating in a report on Thursday, June 26th. DZ Bank upgraded shares of BP from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 6th. BNP Paribas upgraded shares of BP from a “neutral” rating to an “outperform” rating in a report on Monday, September 15th. Melius assumed coverage on shares of BP in a report on Wednesday, August 20th. They issued a “buy” rating and a $66.00 target price for the company. Finally, Scotiabank upgraded shares of BP from a “sector perform” rating to a “sector outperform” rating and set a $42.00 target price for the company in a report on Thursday, August 14th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, BP currently has an average rating of “Moderate Buy” and an average target price of $42.05.

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.