Delta Capital Management LLC Sells 450 Shares of BP p.l.c. $BP

Delta Capital Management LLC reduced its holdings in BP p.l.c. (NYSE:BP) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,890 shares of the oil and gas exploration company’s stock after selling 450 shares during the quarter. Delta Capital Management LLC’s holdings in BP were worth $2,182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its position in BP by 486.9% during the first quarter. Bank of New York Mellon Corp now owns 2,787,644 shares of the oil and gas exploration company’s stock valued at $94,195,000 after purchasing an additional 2,312,687 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its position in BP by 2.7% during the first quarter. Kornitzer Capital Management Inc. KS now owns 477,764 shares of the oil and gas exploration company’s stock valued at $16,144,000 after buying an additional 12,522 shares during the period. Wedge Capital Management L L P NC lifted its stake in shares of BP by 4.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 465,269 shares of the oil and gas exploration company’s stock valued at $13,926,000 after acquiring an additional 19,279 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of BP by 30.2% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 444,530 shares of the oil and gas exploration company’s stock valued at $15,020,000 after acquiring an additional 103,100 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in BP by 2.5% in the 1st quarter. Gabelli Funds LLC now owns 358,800 shares of the oil and gas exploration company’s stock worth $12,124,000 after purchasing an additional 8,700 shares during the period. Hedge funds and other institutional investors own 11.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BP. Melius began coverage on shares of BP in a report on Wednesday, August 20th. They issued a “buy” rating and a $66.00 target price on the stock. Wells Fargo & Company increased their price target on shares of BP from $27.00 to $32.00 and gave the company an “equal weight” rating in a research report on Thursday, June 26th. Scotiabank raised shares of BP from a “sector perform” rating to a “sector outperform” rating and set a $42.00 price objective for the company in a research note on Thursday, August 14th. DZ Bank raised shares of BP from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 6th. Finally, Berenberg Bank upgraded BP from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.05.

BP Price Performance

Shares of NYSE BP opened at $35.68 on Monday. BP p.l.c. has a 1 year low of $25.22 and a 1 year high of $35.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.21 and a quick ratio of 0.92. The company’s 50-day moving average is $34.00 and its 200 day moving average is $31.55. The stock has a market capitalization of $93.97 billion, a P/E ratio of 169.91, a P/E/G ratio of 1.84 and a beta of 0.61.

BP (NYSE:BP) last posted its quarterly earnings data on Tuesday, August 5th. The oil and gas exploration company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.22. The business had revenue of $46.63 billion for the quarter, compared to analysts’ expectations of $42.88 billion. BP had a return on equity of 9.08% and a net margin of 0.29%.The business’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS. On average, sell-side analysts expect that BP p.l.c. will post 3.53 earnings per share for the current year.

BP Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, August 15th were issued a $0.4942 dividend. This represents a $1.98 dividend on an annualized basis and a yield of 5.5%. This is a positive change from BP’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, August 15th. BP’s dividend payout ratio is currently 942.86%.

BP Company 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.