Bogart Wealth LLC Decreases Stake in BP p.l.c. $BP

Bogart Wealth LLC lessened its holdings in BP p.l.c. (NYSE:BP) by 23.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,715 shares of the oil and gas exploration company’s stock after selling 515 shares during the quarter. Bogart Wealth LLC’s holdings in BP were worth $51,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC lifted its holdings in BP by 2,250.0% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 940 shares of the oil and gas exploration company’s stock worth $32,000 after acquiring an additional 900 shares during the period. Acima Private Wealth LLC purchased a new stake in shares of BP during the 2nd quarter valued at $32,000. GW&K Investment Management LLC raised its stake in shares of BP by 178.0% during the 1st quarter. GW&K Investment Management LLC now owns 1,034 shares of the oil and gas exploration company’s stock worth $35,000 after purchasing an additional 662 shares during the period. ORG Partners LLC boosted its holdings in shares of BP by 743.3% in the 2nd quarter. ORG Partners LLC now owns 1,754 shares of the oil and gas exploration company’s stock worth $53,000 after buying an additional 1,546 shares during the last quarter. Finally, MorganRosel Wealth Management LLC bought a new position in BP during the first quarter valued at about $81,000. 11.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. DZ Bank raised shares of BP from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 6th. Melius assumed coverage on shares of BP in a report on Wednesday, August 20th. They issued a “buy” rating and a $66.00 price target on the stock. Berenberg Bank raised BP from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Raymond James Financial lowered their target price on BP from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Melius Research started coverage on BP in a research note on Wednesday, August 20th. They set a “buy” rating and a $66.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, BP has a consensus rating of “Hold” and a consensus target price of $42.41.

BP Trading Down 0.2%

Shares of BP stock opened at $33.16 on Wednesday. The stock has a market capitalization of $87.21 billion, a price-to-earnings ratio of 157.91, a PEG ratio of 1.88 and a beta of 0.54. The company’s fifty day simple moving average is $34.33 and its two-hundred day simple moving average is $31.60. BP p.l.c. has a 1 year low of $25.22 and a 1 year high of $35.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.21 and a quick ratio of 0.92.

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

BP Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, August 15th were issued 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 dividend on an annualized basis and a dividend yield of 6.0%. BP’s payout ratio is currently 942.86%.

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.