EverSource Wealth Advisors LLC Buys 333 Shares of BP p.l.c. (NYSE:BP)

EverSource Wealth Advisors LLC lifted its stake in shares of BP p.l.c. (NYSE:BP) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,245 shares of the oil and gas exploration company’s stock after purchasing an additional 333 shares during the period. EverSource Wealth Advisors LLC’s holdings in BP were worth $469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First United Bank & Trust bought a new position in BP in the 4th quarter valued at $33,000. Versant Capital Management Inc acquired a new position in BP during the 4th quarter valued at about $35,000. MeadowBrook Investment Advisors LLC acquired a new position in BP in the fourth quarter valued at approximately $46,000. Harbor Investment Advisory LLC lifted its stake in shares of BP by 200.8% in the 4th quarter. Harbor Investment Advisory LLC now owns 1,588 shares of the oil and gas exploration company’s stock valued at $56,000 after purchasing an additional 1,060 shares during the period. Finally, First Command Advisory Services Inc. bought a new position in BP during the third quarter worth about $75,000. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Stock Up 0.9 %

Shares of NYSE:BP traded up $0.32 during trading on Thursday, hitting $36.88. 1,585,660 shares of the company were exchanged, compared to its average volume of 9,279,104. BP p.l.c. has a fifty-two week low of $33.52 and a fifty-two week high of $40.84. The stock has a market cap of $103.86 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 1.94 and a beta of 0.67. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average price of $38.28 and a two-hundred day moving average price of $36.43.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas exploration company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.03 by ($0.06). BP had a return on equity of 13.49% and a net margin of 4.51%. The firm had revenue of $48.88 billion for the quarter, compared to the consensus estimate of $53.65 billion. The business’s revenue was down 13.0% compared to the same quarter last year. During the same period last year, the company posted $1.66 earnings per share. As a group, research analysts anticipate that BP p.l.c. will post 4.78 earnings per share for the current fiscal year.

BP Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 17th will be given a dividend of $0.4362 per share. This represents a $1.74 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date is Thursday, May 16th. BP’s dividend payout ratio (DPR) is presently 53.92%.

Analyst Ratings Changes

BP has been the topic of a number of recent analyst reports. Erste Group Bank raised shares of BP from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Piper Sandler raised their price target on BP from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. Jefferies Financial Group raised BP from a “hold” rating to a “buy” rating and increased their target price for the stock from $38.60 to $42.30 in a research note on Monday, March 4th. Scotiabank raised their price objective on shares of BP from $45.00 to $47.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, TD Securities upped their target price on shares of BP from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, BP has a consensus rating of “Moderate Buy” and an average price target of $43.88.

BP 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.