Prime Capital Investment Advisors LLC Sells 846 Shares of BP p.l.c. (NYSE:BP)

Prime Capital Investment Advisors LLC lessened its holdings in shares of BP p.l.c. (NYSE:BP) by 5.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 13,568 shares of the oil and gas exploration company’s stock after selling 846 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in BP were worth $426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of BP. LRI Investments LLC acquired a new position in shares of BP during the 1st quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of BP in the second quarter valued at $33,000. Quent Capital LLC bought a new position in shares of BP in the second quarter valued at about $38,000. Independence Bank of Kentucky lifted its stake 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 worth $47,000 after buying an additional 600 shares during the last quarter. Finally, Indiana Trust & Investment Management CO grew its stake in BP by 29.1% in the 2nd quarter. Indiana Trust & Investment Management CO now owns 2,034 shares of the oil and gas exploration company’s stock valued at $73,000 after buying an additional 459 shares during the last quarter. Institutional investors own 11.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Scotiabank cut BP from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $42.00 to $36.00 in a report on Thursday, October 10th. Redburn Atlantic downgraded BP from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 24th. Argus upgraded BP to a “hold” rating in a research report on Thursday, August 1st. HSBC cut shares of BP from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Wells Fargo & Company dropped their price objective on shares of BP from $35.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Eleven analysts have rated the stock with a hold rating, five have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, BP currently has an average rating of “Moderate Buy” and an average price target of $42.73.

BP Trading Down 0.2 %

Shares of BP stock opened at $28.98 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22. BP p.l.c. has a fifty-two week low of $27.82 and a fifty-two week high of $40.40. The company has a market cap of $78.61 billion, a PE ratio of 30.51, a P/E/G ratio of 1.94 and a beta of 0.65. The stock’s fifty day moving average price is $31.14 and its two-hundred day moving average price is $34.01.

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. Equities analysts predict that BP p.l.c. will post 3.68 EPS for the current fiscal year.

BP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 8th will be given a $0.48 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.92 dividend on an annualized basis and a yield of 6.63%. BP’s dividend payout ratio is currently 200.00%.

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.