Legacy Financial Advisors Inc. Acquires New Position in BP p.l.c. $BP

Legacy Financial Advisors Inc. bought a new position in shares of BP p.l.c. (NYSE:BP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,025 shares of the oil and gas exploration company’s stock, valued at approximately $793,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Heartwood Wealth Advisors LLC acquired a new position in BP in the third quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of BP in the 2nd quarter valued at $27,000. WFA of San Diego LLC purchased a new position in shares of BP during the 2nd quarter worth $46,000. Quent Capital LLC purchased a new stake in BP in the 3rd quarter valued at about $47,000. Finally, Rossby Financial LCC increased its position in shares of BP by 146.6% during the second quarter. Rossby Financial LCC now owns 1,736 shares of the oil and gas exploration company’s stock valued at $52,000 after acquiring an additional 1,032 shares during the last quarter. Institutional investors and hedge funds own 11.01% of the company’s stock.

Analyst Ratings Changes

BP has been the subject of several research analyst reports. Weiss Ratings upgraded BP from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 30th. HSBC lowered shares of BP from a “hold” rating to a “reduce” rating and set a $38.50 target price on the stock. in a report on Thursday, February 12th. Wall Street Zen downgraded shares of BP from a “buy” rating to a “hold” rating in a research note on Saturday, February 14th. BNP Paribas Exane cut BP from an “outperform” rating to a “hold” rating and set a $38.50 price objective on the stock. in a research note on Thursday, February 12th. Finally, Santander upgraded BP to an “outperform” rating in a report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, ten have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $37.35.

BP Trading Up 0.6%

Shares of NYSE:BP opened at $38.42 on Tuesday. The company has a market cap of $100.73 billion, a PE ratio of -3,837.66, a P/E/G ratio of 1.79 and a beta of 0.33. The company’s 50 day moving average is $36.17 and its two-hundred day moving average is $35.38. BP p.l.c. has a 52 week low of $25.22 and a 52 week high of $39.51. The company has a current ratio of 1.26, a quick ratio of 0.98 and a debt-to-equity ratio of 0.74.

BP (NYSE:BP) last issued its earnings results on Tuesday, February 10th. The oil and gas exploration company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. BP had a net margin of 0.03% and a return on equity of 9.68%. The firm had revenue of $47.38 billion during the quarter, compared to the consensus estimate of $42.19 billion. During the same quarter in the previous year, the firm posted $0.44 earnings per share. The company’s revenue was up 3.6% 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, February 20th will be issued a $0.4992 dividend. The ex-dividend date is Friday, February 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.2%. BP’s dividend payout ratio is presently -19,800.00%.

BP Profile

BP plc is a British multinational integrated energy company headquartered in London. Originating in the early 20th century as the Anglo-Persian Oil Company, BP has grown into one of the world’s largest oil and gas companies, operating across exploration and production, refining and marketing, trading, and a range of low-carbon businesses.

The company’s core activities include upstream exploration and production of crude oil and natural gas, midstream and trading operations, and downstream refining, marketing and supply of fuels, lubricants and petrochemicals.