First American Bank Sells 641 Shares of BP p.l.c. (NYSE:BP)

First American Bank reduced its holdings in shares of BP p.l.c. (NYSE:BP) by 2.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,948 shares of the oil and gas exploration company’s stock after selling 641 shares during the quarter. First American Bank’s holdings in BP were worth $877,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BP. Ameriprise Financial Inc. raised its stake in shares of BP by 4.3% in the fourth quarter. Ameriprise Financial Inc. now owns 940,786 shares of the oil and gas exploration company’s stock valued at $27,810,000 after buying an additional 38,759 shares during the period. Bank of New York Mellon Corp raised its stake in shares of BP by 30.1% in the fourth quarter. Bank of New York Mellon Corp now owns 474,957 shares of the oil and gas exploration company’s stock valued at $14,040,000 after buying an additional 110,019 shares during the period. Altrius Capital Management Inc raised its stake in shares of BP by 16.6% in the fourth quarter. Altrius Capital Management Inc now owns 272,527 shares of the oil and gas exploration company’s stock valued at $8,056,000 after buying an additional 38,751 shares during the period. GAMMA Investing LLC raised its stake in shares of BP by 5,751.4% during the 1st quarter. GAMMA Investing LLC now owns 207,606 shares of the oil and gas exploration company’s stock valued at $7,015,000 after purchasing an additional 204,058 shares during the period. Finally, Butensky & Cohen Financial Security Inc. raised its stake in shares of BP by 1.6% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 131,260 shares of the oil and gas exploration company’s stock valued at $4,435,000 after purchasing an additional 2,045 shares during the period. 11.01% of the stock is currently owned by institutional investors.

BP Price Performance

BP opened at $31.26 on Friday. The stock has a 50-day moving average price of $29.29 and a 200-day moving average price of $30.69. BP p.l.c. has a 12-month low of $25.22 and a 12-month high of $37.39. The company has a current ratio of 1.22, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $83.99 billion, a P/E ratio of -67.94, a PEG ratio of 2.03 and a beta of 0.54.

BP (NYSE:BP) last posted 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 analysts’ consensus estimates of $0.56 by ($0.03). BP had a positive return on equity of 9.51% and a negative net margin of 0.62%. The firm had revenue of $46.91 billion during the quarter, compared to analysts’ expectations of $40.12 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. BP’s revenue for the quarter was down 4.0% compared to the same quarter last year. Equities analysts predict that BP p.l.c. will post 3.53 earnings per share for the current fiscal year.

BP Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend is Friday, May 16th. BP’s dividend payout ratio (DPR) is presently -413.04%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BP. TD Securities reiterated a “hold” rating and set a $36.00 price objective (down from $40.00) on shares of BP in a research note on Wednesday, March 19th. Scotiabank decreased their price objective on BP from $34.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group set a $29.00 price objective on BP and gave the company a “hold” rating in a research note on Monday, May 19th. TD Cowen lowered BP from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research note on Wednesday, March 19th. Finally, Morgan Stanley cut BP from an “equal weight” rating to an “underweight” rating and set a $26.50 target price for the company. in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, two have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock 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.