Ethic Inc. Has $584,000 Stock Holdings in BP p.l.c. $BP

Ethic Inc. increased its position in shares of BP p.l.c. (NYSE:BP) by 32.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,253 shares of the oil and gas exploration company’s stock after acquiring an additional 4,699 shares during the period. Ethic Inc.’s holdings in BP were worth $584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Yousif Capital Management LLC increased its position in BP by 7.6% during the 2nd quarter. Yousif Capital Management LLC now owns 35,056 shares of the oil and gas exploration company’s stock valued at $1,049,000 after purchasing an additional 2,470 shares during the period. Meritage Portfolio Management grew its holdings in BP by 0.7% during the second quarter. Meritage Portfolio Management now owns 164,318 shares of the oil and gas exploration company’s stock worth $4,918,000 after buying an additional 1,171 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in shares of BP during the second quarter valued at about $87,000. Acima Private Wealth LLC bought a new position in shares of BP in the second quarter valued at approximately $32,000. Finally, Stock Yards Bank & Trust Co. increased its holdings in BP by 1.6% during the second quarter. Stock Yards Bank & Trust Co. now owns 37,941 shares of the oil and gas exploration company’s stock worth $1,136,000 after buying an additional 592 shares during the last quarter. 11.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BP has been the subject of several recent research reports. Melius Research initiated coverage on BP in a report on Wednesday, August 20th. They issued a “buy” rating and a $66.00 price objective for the company. BNP Paribas raised shares of BP from a “neutral” rating to an “outperform” rating in a report on Monday, September 15th. Wells Fargo & Company assumed coverage on shares of BP in a research note on Friday, October 17th. They issued an “equal weight” rating and a $37.00 price target for the company. TD Cowen increased their price target on shares of BP from $34.00 to $37.00 and gave the company a “hold” rating in a research report on Wednesday, August 6th. Finally, DZ Bank raised BP from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BP currently has an average rating of “Hold” and an average price target of $42.41.

BP Stock Down 0.9%

BP stock opened at $34.45 on Wednesday. BP p.l.c. has a twelve month low of $25.22 and a twelve month high of $35.88. 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 firm has a market cap of $90.60 billion, a PE ratio of 164.05, a price-to-earnings-growth ratio of 1.95 and a beta of 0.54. The business has a 50 day moving average of $34.37 and a 200 day moving average of $31.90.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas exploration company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.22. The company had revenue of $46.63 billion during the quarter, compared to analyst estimates of $42.88 billion. BP had a return on equity of 9.08% and a net margin of 0.29%.The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $1.00 EPS. On average, research analysts forecast that BP p.l.c. will post 3.53 EPS for the current fiscal year.

BP Increases Dividend

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

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.