Arkadios Wealth Advisors Boosts Position in BP p.l.c. (NYSE:BP)

Arkadios Wealth Advisors increased its holdings in BP p.l.c. (NYSE:BP) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,003 shares of the oil and gas exploration company’s stock after buying an additional 1,387 shares during the period. Arkadios Wealth Advisors’ holdings in BP were worth $1,389,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Altrius Capital Management Inc lifted its position in shares of BP by 9.9% in the third quarter. Altrius Capital Management Inc now owns 233,776 shares of the oil and gas exploration company’s stock valued at $7,338,000 after acquiring an additional 20,976 shares in the last quarter. Wedge Capital Management L L P NC lifted its holdings in BP by 2.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 660,538 shares of the oil and gas exploration company’s stock valued at $19,526,000 after purchasing an additional 14,436 shares in the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of BP during the 3rd quarter worth about $857,000. Kornitzer Capital Management Inc. KS raised its position in shares of BP by 5.4% in the third quarter. Kornitzer Capital Management Inc. KS now owns 454,980 shares of the oil and gas exploration company’s stock valued at $14,282,000 after buying an additional 23,325 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of BP by 860.7% during the third quarter. SG Americas Securities LLC now owns 66,464 shares of the oil and gas exploration company’s stock valued at $2,086,000 after buying an additional 59,546 shares during the period. 11.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BP shares. Piper Sandler reduced their price target on BP from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group raised BP to a “strong-buy” rating in a research note on Friday, October 11th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of BP in a research note on Tuesday, January 14th. Scotiabank downgraded shares of BP from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $42.00 to $36.00 in a report on Thursday, October 10th. Finally, BNP Paribas downgraded shares of BP from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a hold rating, five have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, BP currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.76.

BP Stock Performance

Shares of NYSE:BP opened at $31.70 on Monday. 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 one year low of $27.82 and a one year high of $40.40. The business’s 50-day simple moving average is $29.65 and its 200 day simple moving average is $31.80. The company has a market cap of $84.70 billion, a P/E ratio of 33.37, a PEG ratio of 2.20 and a beta of 0.64.

BP (NYSE:BP) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas exploration company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. The business had revenue of $47.25 billion during the quarter, compared to analyst estimates of $52.05 billion. BP had a net margin of 1.36% and a return on equity of 12.91%. The business’s revenue was down 11.3% on a year-over-year basis. During the same period last year, the business earned $1.15 EPS. On average, sell-side analysts forecast that BP p.l.c. will post 3.45 earnings per share for the current fiscal year.

BP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 8th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, November 8th. This represents a $1.92 dividend on an annualized basis and a yield of 6.06%. BP’s dividend payout ratio (DPR) is presently 200.00%.

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.