M Holdings Securities Inc. Makes New Investment in BP p.l.c. $BP

M Holdings Securities Inc. bought a new stake in BP p.l.c. (NYSE:BP) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 29,692 shares of the oil and gas exploration company’s stock, valued at approximately $1,398,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BP. Brighton Jones LLC boosted its holdings in BP by 2.0% in the third quarter. Brighton Jones LLC now owns 34,594 shares of the oil and gas exploration company’s stock valued at $1,522,000 after acquiring an additional 684 shares during the last quarter. StoneX Group Inc. raised its holdings in BP by 79.7% during the 3rd quarter. StoneX Group Inc. now owns 16,765 shares of the oil and gas exploration company’s stock worth $736,000 after purchasing an additional 7,436 shares during the last quarter. Parallel Advisors LLC raised its holdings in BP by 10.2% during the 3rd quarter. Parallel Advisors LLC now owns 31,070 shares of the oil and gas exploration company’s stock worth $1,367,000 after purchasing an additional 2,879 shares during the last quarter. Plancorp LLC raised its holdings in BP by 8.4% during the 3rd quarter. Plancorp LLC now owns 7,919 shares of the oil and gas exploration company’s stock worth $348,000 after purchasing an additional 611 shares during the last quarter. Finally, May Hill Capital LLC lifted its position in BP by 15.9% during the 3rd quarter. May Hill Capital LLC now owns 11,221 shares of the oil and gas exploration company’s stock valued at $494,000 after purchasing an additional 1,541 shares during the period. Institutional investors own 11.01% of the company’s stock.

Analysts Set New Price Targets

BP has been the topic of several recent research reports. Barclays reaffirmed an “overweight” rating on shares of BP in a research note on Monday, October 5th. Citigroup began coverage on shares of BP in a research note on Thursday, October 1st. They set a “buy” rating for the company. BTIG Research lowered shares of BP to a “neutral” rating in a report on Thursday, October 1st. TD Cowen raised their price objective on shares of BP from $47.00 to $49.00 and gave the company a “hold” rating in a research note on Tuesday, October 20th. Finally, Wells Fargo & Company lifted their target price on shares of BP from $57.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, BP has a consensus rating of “Moderate Buy” and an average target price of $49.90.

BP Trading Down 0.0%

NYSE BP opened at $44.52 on Tuesday. BP p.l.c. has a 12 month low of $33.22 and a 12 month high of $51.49. The stock has a 50-day simple moving average of $46.29 and a 200 day simple moving average of $43.21. The company has a current ratio of 1.29, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $116.63 billion, a PE ratio of 6.23, a P/E/G ratio of 0.35 and a beta of 0.16.

BP (NYSE:BP) last issued its earnings results on Friday, October 30th. The oil and gas exploration company reported $3.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $0.60. The firm had revenue of $68.40 billion for the quarter, compared to analysts’ expectations of $63.14 billion. BP had a return on equity of 24.67% and a net margin of 3.74%. The company’s revenue was up 41.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. Research analysts forecast that BP p.l.c. will post 8.37 EPS for the current year.

BP Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, November 13th will be given a $0.5196 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, November 13th. BP’s dividend payout ratio (DPR) is currently 60.59%.

About BP

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.