BP p.l.c. $BP Stock: TD Waterhouse Canada Inc. Grows Stake

TD Waterhouse Canada Inc. increased its holdings in BP p.l.c. (NYSE:BP) by 611.2% in the third quarter, Holdings Channel.com reports. The firm owned 111,585 shares of the oil and gas exploration company’s stock after acquiring an additional 95,896 shares during the period. TD Waterhouse Canada Inc.’s holdings in BP were worth $4,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BP. HBK Sorce Advisory LLC boosted its stake in shares of BP by 2.9% during the second quarter. HBK Sorce Advisory LLC now owns 11,424 shares of the oil and gas exploration company’s stock valued at $422,000 after purchasing an additional 317 shares during the period. Wedmont Private Capital raised its holdings in BP by 4.5% in the 3rd quarter. Wedmont Private Capital now owns 7,478 shares of the oil and gas exploration company’s stock worth $347,000 after purchasing an additional 320 shares in the last quarter. Venture Visionary Partners LLC lifted its position in shares of BP by 1.3% in the 3rd quarter. Venture Visionary Partners LLC now owns 26,991 shares of the oil and gas exploration company’s stock worth $1,187,000 after purchasing an additional 349 shares during the period. Versant Capital Management Inc boosted its stake in shares of BP by 4.5% during the 3rd quarter. Versant Capital Management Inc now owns 8,310 shares of the oil and gas exploration company’s stock valued at $366,000 after purchasing an additional 357 shares in the last quarter. Finally, Atlas Brown Inc. boosted its stake in shares of BP by 1.0% during the 2nd quarter. Atlas Brown Inc. now owns 36,925 shares of the oil and gas exploration company’s stock valued at $1,364,000 after purchasing an additional 370 shares in the last quarter. Institutional investors own 11.01% of the company’s stock.

Analyst Ratings Changes

BP has been the subject of a number of research reports. Evercore raised shares of BP to an “outperform” rating in a research note on Monday, October 5th. Piper Sandler lifted their price objective on BP from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. Barclays restated an “overweight” rating on shares of BP in a research note on Monday, October 5th. Freedom Capital raised BP from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 6th. Finally, BTIG Research cut BP to a “neutral” rating in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.31.

BP Stock Performance

Shares of BP stock opened at $49.45 on Tuesday. BP p.l.c. has a one year low of $32.92 and a one year high of $50.27. The company’s 50-day moving average is $44.77 and its 200 day moving average is $43.62. The company has a market capitalization of $129.53 billion, a price-to-earnings ratio of 24.12, a price-to-earnings-growth ratio of 0.48 and a beta of 0.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.95 and a current ratio of 1.27.

BP (NYSE:BP) last released its quarterly earnings data on Monday, August 3rd. The oil and gas exploration company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.35. The business had revenue of $69.11 billion during the quarter, compared to analyst estimates of $57.89 billion. BP had a net margin of 2.49% and a return on equity of 16.63%. BP’s revenue was up 106.1% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. Sell-side analysts expect that BP p.l.c. will post 7.73 EPS for the current fiscal year.

BP Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, August 14th were given a dividend of $0.5196 per share. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. This is a positive change from BP’s previous quarterly dividend of $0.4992. The ex-dividend date was Friday, August 14th. BP’s payout ratio is currently 100.49%.

BP Profile

BP p.l.c. is a global integrated energy company headquartered in London, United Kingdom. Its operations span the exploration, development and production of oil and natural gas, as well as the processing, refining, transportation and marketing of energy products.

Through its businesses, BP supplies fuels for road transportation, aviation and marine use, along with lubricants marketed under the Castrol brand. The company also operates retail fuel and convenience locations and provides energy products and services to commercial and industrial customers.

BP has expanded its activities beyond traditional hydrocarbons to include lower-carbon businesses such as renewable power, bioenergy, electric-vehicle charging and hydrogen.