624,999 Shares in BP p.l.c. $BP Bought by Kahn Brothers Group Inc.

Kahn Brothers Group Inc. bought a new stake in BP p.l.c. (NYSE:BP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 624,999 shares of the oil and gas exploration company’s stock, valued at approximately $23,094,000. BP accounts for 0.0% of Kahn Brothers Group Inc.’s holdings, making the stock its 23rd largest position.

A number of other large investors have also recently bought and sold shares of the business. Financial Life Planners acquired a new position in shares of BP in the 1st quarter valued at about $39,000. Triumph Capital Management acquired a new stake in BP during the third quarter worth approximately $43,000. LRI Investments LLC increased its holdings in BP by 76.2% in the fourth quarter. LRI Investments LLC now owns 1,276 shares of the oil and gas exploration company’s stock worth $44,000 after purchasing an additional 552 shares in the last quarter. WFA of San Diego LLC acquired a new position in BP in the second quarter valued at approximately $46,000. Finally, Ameriflex Group Inc. boosted its holdings in shares of BP by 39.1% during the 4th quarter. Ameriflex Group Inc. now owns 1,808 shares of the oil and gas exploration company’s stock worth $63,000 after buying an additional 508 shares in the last quarter. 11.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on BP shares. Royal Bank Of Canada upgraded shares of BP from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 11th. TD Cowen raised their price target on shares of BP from $40.00 to $41.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Wall Street Zen upgraded shares of BP from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 18th. Mizuho set a $53.00 target price on BP in a research note on Wednesday, August 5th. Finally, Piper Sandler increased their price target on BP from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.36.

BP Stock Down 0.4%

BP stock opened at $42.34 on Friday. The firm has a market capitalization of $110.92 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 0.58 and a beta of 0.16. The firm’s fifty day moving average price is $41.32 and its two-hundred day moving average price is $42.52. BP p.l.c. has a 1-year low of $32.72 and a 1-year high of $48.27. The company has a current ratio of 1.27, a quick ratio of 0.95 and a debt-to-equity ratio of 0.69.

BP (NYSE:BP) last posted its earnings results on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.35. BP had a net margin of 2.49% and a return on equity of 16.63%. The company had revenue of $69.11 billion for the quarter, compared to analyst estimates of $57.89 billion. During the same quarter in the prior year, the business posted $0.90 EPS. The firm’s revenue was up 106.1% compared to the same quarter last year. On average, equities research analysts predict that BP p.l.c. will post 6.04 earnings per share for the current fiscal year.

BP Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.5196 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.08 dividend on an annualized basis and a yield of 4.9%. This is a positive change from BP’s previous quarterly dividend of $0.50. BP’s payout ratio is presently 100.49%.

BP Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.