Janney Montgomery Scott LLC Has $8.12 Million Position in BP p.l.c. (NYSE:BP)

Janney Montgomery Scott LLC decreased its holdings in shares of BP p.l.c. (NYSE:BP) by 5.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 258,706 shares of the oil and gas exploration company’s stock after selling 15,139 shares during the quarter. Janney Montgomery Scott LLC’s holdings in BP were worth $8,121,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. ST Germain D J Co. Inc. boosted its position in BP by 9.0% during the 3rd quarter. ST Germain D J Co. Inc. now owns 4,549 shares of the oil and gas exploration company’s stock worth $143,000 after acquiring an additional 377 shares during the period. Wedge Capital Management L L P NC boosted its holdings in shares of BP by 2.6% during the third quarter. Wedge Capital Management L L P NC now owns 646,102 shares of the oil and gas exploration company’s stock worth $20,281,000 after purchasing an additional 16,534 shares during the period. Fiduciary Alliance LLC increased its stake in BP by 11.3% in the 3rd quarter. Fiduciary Alliance LLC now owns 18,683 shares of the oil and gas exploration company’s stock valued at $586,000 after buying an additional 1,900 shares during the period. ORG Partners LLC lifted its position in BP by 32.5% in the 3rd quarter. ORG Partners LLC now owns 2,533 shares of the oil and gas exploration company’s stock worth $80,000 after buying an additional 621 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in shares of BP by 15.9% during the 3rd quarter. Valeo Financial Advisors LLC now owns 54,252 shares of the oil and gas exploration company’s stock valued at $1,703,000 after buying an additional 7,444 shares during the period. 11.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley lowered BP from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $49.90 to $41.50 in a report on Monday, July 15th. StockNews.com raised BP from a “hold” rating to a “buy” rating in a research note on Tuesday. Piper Sandler reiterated a “neutral” rating and issued a $43.00 target price on shares of BP in a research note on Wednesday, July 17th. Redburn Atlantic lowered shares of BP from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 24th. Finally, Evercore ISI raised shares of BP to a “strong-buy” rating in a research note on Wednesday, July 31st. Eleven analysts have rated the stock with a hold rating, five have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.73.

BP Stock Performance

BP opened at $30.31 on Friday. BP p.l.c. has a 12-month low of $29.00 and a 12-month high of $40.40. The firm has a market capitalization of $82.22 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 2.01 and a beta of 0.65. The stock’s 50 day moving average price is $31.72 and its two-hundred day moving average price is $34.48. The company has a quick ratio of 0.94, a current ratio of 1.22 and a debt-to-equity ratio of 0.66.

BP (NYSE:BP) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas exploration company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.05. The company had revenue of $47.25 billion during the quarter, compared to the consensus estimate of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The company’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the company earned $1.15 EPS. On average, equities analysts forecast that BP p.l.c. will post 3.71 earnings per share for the current year.

BP Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 8th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.33%. The ex-dividend date of this dividend is Friday, November 8th. BP’s dividend payout ratio is 200.00%.

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.