Delta Capital Management LLC Has $2.48 Million Holdings in BP p.l.c. (NYSE:BP)

Delta Capital Management LLC lessened its holdings in shares of BP p.l.c. (NYSE:BP) by 0.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 73,340 shares of the oil and gas exploration company’s stock after selling 440 shares during the quarter. Delta Capital Management LLC’s holdings in BP were worth $2,478,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BP. Asset Planning Inc acquired a new stake in BP during the 4th quarter worth $40,000. Kornitzer Capital Management Inc. KS raised its stake in BP by 2.3% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 465,242 shares of the oil and gas exploration company’s stock worth $13,753,000 after buying an additional 10,262 shares during the period. Bank of New York Mellon Corp increased its holdings in BP by 30.1% during the 4th quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company’s stock worth $14,040,000 after purchasing an additional 110,019 shares in the last quarter. Altrius Capital Management Inc increased its holdings in BP by 16.6% during the 4th quarter. Altrius Capital Management Inc now owns 272,527 shares of the oil and gas exploration company’s stock worth $8,056,000 after purchasing an additional 38,751 shares in the last quarter. Finally, SVB Wealth LLC bought a new position in BP during the 4th quarter worth about $588,000. Institutional investors and hedge funds own 11.01% of the company’s stock.

BP Trading Up 0.4%

Shares of BP stock opened at $30.93 on Friday. The firm has a 50 day moving average price of $28.75 and a two-hundred day moving average price of $30.60. The company has a quick ratio of 0.97, a current ratio of 1.25 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $83.97 billion, a PE ratio of 386.67, a price-to-earnings-growth ratio of 1.12 and a beta of 0.54. BP p.l.c. has a 12-month low of $25.22 and a 12-month high of $37.39.

BP (NYSE:BP) last issued its quarterly earnings data on Tuesday, April 29th. The oil and gas exploration company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.03). The company had revenue of $46.91 billion for the quarter, compared to analyst estimates of $40.12 billion. BP had a return on equity of 10.96% and a net margin of 0.20%. The company’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business earned $0.97 earnings per share. As a group, analysts predict that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 16th will be given a $0.48 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.21%. BP’s payout ratio is -413.04%.

Analyst Ratings Changes

BP has been the subject of a number of research reports. Jefferies Financial Group set a $29.00 target price on BP and gave the stock a “hold” rating in a report on Monday, May 19th. TD Securities reiterated a “hold” rating and set a $36.00 target price (down previously from $40.00) on shares of BP in a report on Wednesday, March 19th. Morgan Stanley cut BP from an “equal weight” rating to an “underweight” rating and set a $26.50 price objective for the company. in a report on Monday, May 12th. Scotiabank decreased their price objective on BP from $34.00 to $30.00 and set a “sector perform” rating for the company in a report on Friday, April 11th. Finally, Piper Sandler decreased their price objective on BP from $35.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, two have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, BP currently has an average rating of “Hold” and a consensus target price of $35.28.

About BP

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.