AdvisorNet Financial Inc Has $447,000 Stake in BP p.l.c. (NYSE:BP)

AdvisorNet Financial Inc cut its position in shares of BP p.l.c. (NYSE:BP) by 5.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,122 shares of the oil and gas exploration company’s stock after selling 954 shares during the period. AdvisorNet Financial Inc’s holdings in BP were worth $447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BP. Altrius Capital Management Inc grew its stake in shares of BP by 9.9% during the 3rd quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company’s stock worth $7,338,000 after acquiring an additional 20,976 shares in the last quarter. Integrated Investment Consultants LLC bought a new position in BP in the third quarter valued at $857,000. Kornitzer Capital Management Inc. KS increased its stake in BP by 5.4% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 454,980 shares of the oil and gas exploration company’s stock valued at $14,282,000 after buying an additional 23,325 shares during the last quarter. SG Americas Securities LLC lifted its position in BP by 860.7% during the 3rd quarter. SG Americas Securities LLC now owns 66,464 shares of the oil and gas exploration company’s stock worth $2,086,000 after buying an additional 59,546 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its holdings in shares of BP by 2.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 646,102 shares of the oil and gas exploration company’s stock valued at $20,281,000 after acquiring an additional 16,534 shares in the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Price Performance

Shares of NYSE:BP opened at $31.31 on Thursday. The firm has a 50 day moving average of $29.54 and a 200-day moving average of $31.87. BP p.l.c. has a 12 month low of $27.82 and a 12 month high of $40.40. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $83.66 billion, a PE ratio of 32.96, a PEG ratio of 2.13 and a beta of 0.64.

BP (NYSE:BP) last released its earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. The firm had revenue of $47.25 billion for the quarter, compared to analysts’ expectations of $52.05 billion. BP had a return on equity of 12.91% and a net margin of 1.36%. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.15 earnings per share. On average, equities research analysts predict that BP p.l.c. will post 3.55 EPS for the current fiscal year.

BP Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 8th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date was Friday, November 8th. BP’s payout ratio is 200.00%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley dropped their target price on BP from $34.70 to $31.80 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada reissued a “sector perform” rating on shares of BP in a research note on Tuesday. StockNews.com upgraded shares of BP from a “hold” rating to a “buy” rating in a research note on Friday, January 10th. Wells Fargo & Company dropped their target price on shares of BP from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Redburn Atlantic lowered BP from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 24th. Eleven research 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.76.

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.