6,554 Shares in BP p.l.c. (NYSE:BP) Bought by Magnolia Capital Advisors LLC

Magnolia Capital Advisors LLC bought a new position in shares of BP p.l.c. (NYSE:BP) during the second quarter, Holdings Channel.com reports. The fund bought 6,554 shares of the oil and gas exploration company’s stock, valued at approximately $237,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BP. LRI Investments LLC bought a new position in BP during the first quarter worth $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in BP during the second quarter worth $33,000. Quent Capital LLC bought a new position in BP during the second quarter worth $38,000. Guardian Wealth Management Inc. increased its holdings in BP by 576.0% in the 4th quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock valued at $40,000 after buying an additional 962 shares during the period. Finally, Independence Bank of Kentucky increased its holdings in BP by 85.7% in the 2nd quarter. Independence Bank of Kentucky now owns 1,300 shares of the oil and gas exploration company’s stock valued at $47,000 after buying an additional 600 shares during the period. Institutional investors own 11.01% of the company’s stock.

Wall Street Analyst Weigh In

BP has been the topic of several analyst reports. StockNews.com raised shares of BP from a “hold” rating to a “buy” rating in a report on Wednesday, September 25th. Wolfe Research initiated coverage on shares of BP in a report on Thursday, July 18th. They issued an “outperform” rating and a $57.00 price target on the stock. Hsbc Global Res raised shares of BP to a “hold” rating in a report 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. Finally, Barclays upgraded shares of 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 issued a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, BP currently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

BP Stock Down 0.1 %

Shares of NYSE BP opened at $31.40 on Tuesday. The firm’s 50-day simple moving average is $33.28 and its 200 day simple moving average is $35.81. The company has a market cap of $86.97 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 4.27 and a beta of 0.64. 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 12-month low of $30.52 and a 12-month high of $40.84.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas exploration company reported $1.00 earnings per share (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 for the quarter, compared to the consensus estimate of $55.82 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. On average, research analysts expect that BP p.l.c. will post 3.85 earnings per share for the current fiscal year.

BP Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 9th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from BP’s previous quarterly dividend of $0.44. BP’s dividend payout ratio (DPR) is 59.56%.

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.