Rhumbline Advisers Acquires 571 Shares of BP p.l.c. (NYSE:BP)

Rhumbline Advisers increased its stake in BP p.l.c. (NYSE:BP) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,235 shares of the oil and gas exploration company’s stock after purchasing an additional 571 shares during the period. Rhumbline Advisers’ holdings in BP were worth $1,055,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BP. PSquared Asset Management AG bought a new position in shares of BP in the 4th quarter worth $50,315,000. OLD Mission Capital LLC raised its position in BP by 145.5% during the fourth quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock valued at $23,233,000 after purchasing an additional 388,931 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in BP by 26.7% during the second quarter. Wedge Capital Management L L P NC now owns 629,568 shares of the oil and gas exploration company’s stock worth $22,727,000 after purchasing an additional 132,750 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of BP by 3.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 429,773 shares of the oil and gas exploration company’s stock worth $15,515,000 after purchasing an additional 13,984 shares in the last quarter. Finally, Bollard Group LLC lifted its position in BP by 1.2% in the 4th quarter. Bollard Group LLC now owns 298,767 shares of the oil and gas exploration company’s stock worth $10,576,000 after buying an additional 3,524 shares during the last quarter. 11.01% of the stock is currently owned by institutional investors.

BP Stock Down 0.4 %

Shares of NYSE BP opened at $32.64 on Monday. The firm has a fifty day simple moving average of $33.69 and a two-hundred day simple moving average of $36.02. The firm has a market capitalization of $90.42 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 3.96 and a beta of 0.64. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. BP p.l.c. has a 12 month low of $30.67 and a 12 month high of $40.84.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas exploration company reported $1.00 EPS for the quarter, topping 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 business had revenue of $47.30 billion during the quarter, compared to analyst estimates of $55.82 billion. During the same period last year, the business posted $0.89 earnings per share. BP’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities analysts expect that BP p.l.c. will post 3.96 earnings per share for the current year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 9th were paid a dividend of $0.48 per share. This is an increase from BP’s previous quarterly dividend of $0.44. The ex-dividend date was Friday, August 9th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.88%. BP’s dividend payout ratio (DPR) is currently 59.56%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Piper Sandler reissued a “neutral” rating and set a $43.00 price target on shares of BP in a research note on Wednesday, July 17th. Argus raised shares of BP to a “hold” rating in a research note on Thursday, August 1st. Wolfe Research began coverage on BP in a research note on Thursday, July 18th. They set an “outperform” rating and a $57.00 price objective on the stock. Hsbc Global Res raised BP to a “hold” rating in a research note on Thursday, August 8th. Finally, Morgan Stanley lowered BP from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $49.90 to $41.50 in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.23.

BP Company 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.