Beese Fulmer Investment Management Inc. Sells 1,000 Shares of BP p.l.c. (NYSE:BP)

Beese Fulmer Investment Management Inc. trimmed its stake in BP p.l.c. (NYSE:BP) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,438 shares of the oil and gas exploration company’s stock after selling 1,000 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in BP were worth $695,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its stake in shares of BP by 2.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 13,245 shares of the oil and gas exploration company’s stock worth $469,000 after acquiring an additional 333 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of BP by 1.7% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 20,715 shares of the oil and gas exploration company’s stock worth $733,000 after acquiring an additional 345 shares during the period. GAMMA Investing LLC lifted its holdings in BP by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,755 shares of the oil and gas exploration company’s stock worth $104,000 after purchasing an additional 586 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in BP by 2.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 39,053 shares of the oil and gas exploration company’s stock worth $1,382,000 after purchasing an additional 806 shares during the last quarter. Finally, First United Bank & Trust acquired a new stake in BP during the 4th quarter worth approximately $33,000. 11.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BP. StockNews.com cut BP from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Wells Fargo & Company lifted their price target on BP from $38.00 to $42.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Piper Sandler lifted their price target on BP from $40.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Scotiabank lifted their price objective on BP from $45.00 to $47.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, TD Securities lifted their price objective on BP from $43.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.88.

BP Trading Up 0.8 %

Shares of BP opened at $35.39 on Thursday. BP p.l.c. has a 52-week low of $33.52 and a 52-week high of $40.84. The business’s fifty day moving average is $37.43 and its 200-day moving average is $36.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.94 and a current ratio of 1.23. The firm has a market cap of $98.59 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.84 and a beta of 0.65.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, May 7th. The oil and gas exploration company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). BP had a return on equity of 13.49% and a net margin of 4.51%. The firm had revenue of $48.88 billion for the quarter, compared to the consensus estimate of $53.65 billion. During the same quarter in the prior year, the firm earned $1.66 EPS. The company’s revenue was down 13.0% on a year-over-year basis. Equities analysts anticipate that BP p.l.c. will post 4.8 EPS for the current fiscal year.

BP Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 17th will be paid a $0.4362 dividend. This represents a $1.74 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Thursday, May 16th. BP’s dividend payout ratio (DPR) is presently 53.92%.

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.