SVB Wealth LLC Makes New $588,000 Investment in BP p.l.c. (NYSE:BP)

SVB Wealth LLC bought a new position in shares of BP p.l.c. (NYSE:BP) during the 4th quarter, HoldingsChannel.com reports. The fund bought 19,880 shares of the oil and gas exploration company’s stock, valued at approximately $588,000.

Several other hedge funds have also recently modified their holdings of the company. Asset Planning Inc purchased a new position in shares of BP in the 4th quarter worth about $40,000. Bank & Trust Co boosted its holdings in shares of BP by 404.8% in the 4th quarter. Bank & Trust Co now owns 2,120 shares of the oil and gas exploration company’s stock worth $63,000 after buying an additional 1,700 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of BP by 41.0% in the 4th quarter. Versant Capital Management Inc now owns 2,221 shares of the oil and gas exploration company’s stock worth $66,000 after buying an additional 646 shares during the last quarter. Anchor Investment Management LLC grew its holdings in BP by 58.7% during the third quarter. Anchor Investment Management LLC now owns 3,120 shares of the oil and gas exploration company’s stock valued at $98,000 after purchasing an additional 1,154 shares during the period. Finally, Independence Bank of Kentucky grew its holdings in BP by 1,867.9% during the fourth quarter. Independence Bank of Kentucky now owns 7,970 shares of the oil and gas exploration company’s stock valued at $236,000 after purchasing an additional 7,565 shares during the period. Institutional investors own 11.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BP shares. Piper Sandler reduced their price objective on BP from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Morgan Stanley reduced their price objective on BP from $34.70 to $31.80 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. StockNews.com downgraded shares of BP from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upgraded shares of BP from an “underweight” rating to a “neutral” rating in a research note on Thursday, February 20th. Finally, DZ Bank downgraded shares of BP from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, BP presently has a consensus rating of “Moderate Buy” and an average target price of $38.76.

BP Stock Performance

Shares of BP opened at $31.82 on Tuesday. The company has a market cap of $85.19 billion, a PE ratio of 397.80, a price-to-earnings-growth ratio of 1.12 and a beta of 0.64. The company has a current ratio of 1.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average price of $31.88 and a 200-day moving average price of $31.34. BP p.l.c. has a 12-month low of $27.82 and a 12-month high of $40.40.

BP (NYSE:BP) last issued its quarterly earnings results on Tuesday, February 11th. The oil and gas exploration company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.12). BP had a net margin of 0.20% and a return on equity of 10.96%. As a group, equities analysts forecast that BP p.l.c. will post 3.53 earnings per share for the current fiscal year.

BP Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 21st will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date is Friday, February 21st. BP’s payout ratio is currently 2,375.00%.

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.