Hexagon Capital Partners LLC Sells 733 Shares of BP p.l.c. (NYSE:BP)

Hexagon Capital Partners LLC trimmed its position in shares of BP p.l.c. (NYSE:BP) by 6.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,034 shares of the oil and gas exploration company’s stock after selling 733 shares during the quarter. Hexagon Capital Partners LLC’s holdings in BP were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. LRI Investments LLC bought a new stake in BP in the 1st quarter worth about $32,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of BP during the second quarter valued at approximately $33,000. Quent Capital LLC bought a new stake in BP during the second quarter worth $38,000. Guardian Wealth Management Inc. boosted its position in BP by 576.0% in the fourth quarter. Guardian Wealth Management Inc. now owns 1,129 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 962 shares during the last quarter. Finally, Independence Bank of Kentucky increased its position in shares of BP by 85.7% during 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 purchasing an additional 600 shares during the last quarter. Institutional investors own 11.01% of the company’s stock.

BP Trading Down 0.2 %

BP stock opened at $31.98 on Thursday. The stock has a market cap of $88.59 billion, a P/E ratio of 10.03, a PEG ratio of 4.27 and a beta of 0.64. BP p.l.c. has a fifty-two week low of $30.52 and a fifty-two week high of $40.84. The firm’s fifty day moving average price is $32.98 and its 200-day moving average price is $35.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.24.

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, beating analysts’ consensus estimates of $0.92 by $0.08. The firm had revenue of $47.30 billion during the quarter, compared to the consensus estimate of $55.82 billion. BP had a return on equity of 13.83% and a net margin of 3.60%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.89 EPS. Equities research analysts forecast that BP p.l.c. will post 3.85 earnings per share for the current fiscal year.

BP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 9th were issued a dividend of $0.48 per share. This is an increase from BP’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date was Friday, August 9th. BP’s payout ratio is currently 59.56%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BP. Piper Sandler restated a “neutral” rating and set a $43.00 price objective on shares of BP in a report on Wednesday, July 17th. Hsbc Global Res upgraded BP to a “hold” rating in a research note on Thursday, August 8th. Evercore ISI raised BP to a “strong-buy” rating in a research report on Wednesday, July 31st. Morgan Stanley cut BP from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $49.90 to $41.50 in a research report on Monday, July 15th. Finally, UBS Group raised shares of BP to a “strong-buy” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $43.73.

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.