Arkadios Wealth Advisors Sells 5,897 Shares of BP p.l.c. (NYSE:BP)

Arkadios Wealth Advisors trimmed its position in shares of BP p.l.c. (NYSE:BP) by 11.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,616 shares of the oil and gas exploration company’s stock after selling 5,897 shares during the period. Arkadios Wealth Advisors’ holdings in BP were worth $1,432,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. LRI Investments LLC purchased a new stake in BP during the first quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in BP during the 2nd quarter worth approximately $33,000. Quent Capital LLC purchased a new position in BP in the 2nd quarter worth approximately $38,000. Independence Bank of Kentucky boosted its stake in shares of BP by 85.7% during the second quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company’s stock valued at $47,000 after purchasing an additional 600 shares during the period. Finally, Indiana Trust & Investment Management CO increased its stake in shares of BP by 29.1% in the second quarter. Indiana Trust & Investment Management CO now owns 2,034 shares of the oil and gas exploration company’s stock worth $73,000 after buying an additional 459 shares during the period. Institutional investors own 11.01% of the company’s stock.

BP Stock Performance

Shares of BP stock opened at $31.52 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.24. The company has a market capitalization of $87.31 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 4.25 and a beta of 0.64. BP p.l.c. has a one year low of $30.52 and a one year high of $40.40. The company’s 50-day moving average is $32.40 and its 200 day moving average is $34.96.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.08. BP had a net margin of 3.60% and a return on equity of 13.83%. The company had revenue of $47.30 billion during the quarter, compared to the consensus estimate of $55.82 billion. During the same quarter last year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. Sell-side analysts expect that BP p.l.c. will post 3.76 EPS for the current fiscal year.

BP Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 9th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 6.09%. This is an increase from BP’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, August 9th. BP’s dividend payout ratio (DPR) is presently 59.56%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group raised BP to a “strong-buy” rating in a research note on Tuesday, July 30th. Scotiabank downgraded shares of BP from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $42.00 to $36.00 in a research report on Thursday, October 10th. Argus raised shares of BP to a “hold” rating in a research report on Thursday, August 1st. Piper Sandler reissued a “neutral” rating and issued a $43.00 price target on shares of BP in a research note on Wednesday, July 17th. Finally, BNP Paribas downgraded BP from an “outperform” rating to a “neutral” rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.98.

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.