BP p.l.c. (NYSE:BP) Shares Bought by Meritage Portfolio Management

Meritage Portfolio Management grew its position in shares of BP p.l.c. (NYSE:BP) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 116,286 shares of the oil and gas exploration company’s stock after acquiring an additional 2,849 shares during the quarter. Meritage Portfolio Management’s holdings in BP were worth $4,117,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its holdings in BP by 5.1% in the third quarter. Hexagon Capital Partners LLC now owns 7,083 shares of the oil and gas exploration company’s stock worth $274,000 after purchasing an additional 345 shares during the period. Confluence Wealth Services Inc. raised its position in BP by 5.6% in the third quarter. Confluence Wealth Services Inc. now owns 10,962 shares of the oil and gas exploration company’s stock worth $424,000 after acquiring an additional 577 shares in the last quarter. Altrius Capital Management Inc raised its position in BP by 0.4% in the third quarter. Altrius Capital Management Inc now owns 184,220 shares of the oil and gas exploration company’s stock worth $7,133,000 after acquiring an additional 695 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in BP by 2.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 39,053 shares of the oil and gas exploration company’s stock worth $1,382,000 after acquiring an additional 806 shares in the last quarter. Finally, 1ST Source Bank raised its position in BP by 3.1% in the third quarter. 1ST Source Bank now owns 30,519 shares of the oil and gas exploration company’s stock worth $1,182,000 after acquiring an additional 915 shares in the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Stock Up 0.7 %

NYSE:BP traded up $0.28 during mid-day trading on Thursday, reaching $39.62. The stock had a trading volume of 5,112,419 shares, compared to its average volume of 9,521,505. The business’s 50 day moving average is $37.36 and its 200 day moving average is $36.52. 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 $111.58 billion, a P/E ratio of 7.73, a PEG ratio of 2.69 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.21 and a quick ratio of 0.94.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, February 6th. The oil and gas exploration company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.96 by $0.11. BP had a return on equity of 16.00% and a net margin of 7.15%. The company had revenue of $52.14 billion for the quarter, compared to the consensus estimate of $53.14 billion. During the same quarter last year, the company posted $1.59 earnings per share. The company’s revenue for the quarter was down 24.7% compared to the same quarter last year. As a group, sell-side analysts predict that BP p.l.c. will post 5.02 earnings per share for the current year.

BP Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, February 16th were issued a dividend of $0.4362 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.74 annualized dividend and a yield of 4.40%. BP’s dividend payout ratio (DPR) is presently 33.79%.

Wall Street Analyst Weigh In

BP has been the topic of several research reports. Raymond James boosted their price target on shares of BP from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. TD Securities upped their price objective on shares of BP from $41.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Scotiabank upped their price objective on shares of BP from $45.00 to $47.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Erste Group Bank raised shares of BP from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Piper Sandler upped their price objective on shares of BP from $40.00 to $43.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, BP currently has a consensus rating of “Hold” and an average target price of $43.72.

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.