Brown Brothers Harriman & Co. Has $347,000 Stock Position in BP p.l.c. (NYSE:BP)

Brown Brothers Harriman & Co. increased its position in BP p.l.c. (NYSE:BP) by 37.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,609 shares of the oil and gas exploration company’s stock after buying an additional 2,640 shares during the period. Brown Brothers Harriman & Co.’s holdings in BP were worth $347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BP. EverSource Wealth Advisors LLC raised its holdings in BP by 2.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 13,245 shares of the oil and gas exploration company’s stock worth $469,000 after buying an additional 333 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in BP by 13.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 487,648 shares of the oil and gas exploration company’s stock valued at $17,263,000 after buying an additional 59,379 shares during the last quarter. Steward Partners Investment Solutions LLC bought a new position in BP during the 4th quarter valued at $1,306,000. CIBC Private Wealth Group LLC boosted its holdings in BP by 7.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 62,394 shares of the oil and gas exploration company’s stock worth $2,209,000 after acquiring an additional 4,059 shares during the last quarter. Finally, Edge Capital Group LLC raised its holdings in shares of BP by 0.8% in the fourth quarter. Edge Capital Group LLC now owns 215,462 shares of the oil and gas exploration company’s stock valued at $7,627,000 after purchasing an additional 1,662 shares during the last quarter. 11.01% of the stock is owned by institutional investors.

BP Trading Down 0.4 %

Shares of BP opened at $32.43 on Thursday. The business’s 50-day moving average price is $33.79 and its 200-day moving average price is $36.06. The company has a quick ratio of 0.95, a current ratio of 1.24 and a debt-to-equity ratio of 0.62. BP p.l.c. has a twelve month low of $30.67 and a twelve month high of $40.84. The stock has a market cap of $89.84 billion, a PE ratio of 10.17, a P/E/G ratio of 3.96 and a beta of 0.64.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.92 by $0.08. The firm had revenue of $47.30 billion during the quarter, compared to the consensus estimate of $55.82 billion. BP had a net margin of 3.60% and a return on equity of 13.83%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.89 EPS. On average, equities analysts forecast that BP p.l.c. will post 3.96 EPS for the current fiscal year.

BP Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.48 per share. This is a positive change from BP’s previous quarterly dividend of $0.44. The ex-dividend date is Friday, August 9th. This represents a $1.92 annualized dividend and a dividend yield of 5.92%. BP’s payout ratio is presently 59.56%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BP. Wells Fargo & Company cut their target price on BP from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Hsbc Global Res upgraded BP to a “hold” rating in a research note on Thursday, August 8th. Scotiabank lowered their price target on shares of BP from $47.00 to $42.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Morgan Stanley lowered BP from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $49.90 to $41.50 in a report on Monday, July 15th. Finally, Evercore ISI upgraded BP to a “strong-buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.23.

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.