Kingswood Wealth Advisors LLC Decreases Stock Position in BP p.l.c. (NYSE:BP)

Kingswood Wealth Advisors LLC lowered its stake in BP p.l.c. (NYSE:BP) by 7.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,593 shares of the oil and gas exploration company’s stock after selling 594 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in BP were worth $286,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. BKM Wealth Management LLC purchased a new stake in shares of BP during the 4th quarter valued at about $123,000. GAMMA Investing LLC raised its position in shares of BP by 27.0% during the 1st quarter. GAMMA Investing LLC now owns 2,755 shares of the oil and gas exploration company’s stock valued at $104,000 after buying an additional 586 shares in the last quarter. PSquared Asset Management AG purchased a new stake in shares of BP during the 4th quarter valued at about $50,315,000. OLD Mission Capital LLC raised its position in shares of BP by 145.5% during the 4th quarter. OLD Mission Capital LLC now owns 656,293 shares of the oil and gas exploration company’s stock valued at $23,233,000 after buying an additional 388,931 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of BP by 13.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 487,648 shares of the oil and gas exploration company’s stock valued at $17,263,000 after buying an additional 59,379 shares in the last quarter. Hedge funds and other institutional investors own 11.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BP. StockNews.com downgraded shares of BP from a “strong-buy” rating to a “buy” rating in a report on Saturday. Piper Sandler upped their target price on shares of BP from $40.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. TD Securities upped their target price on shares of BP from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Scotiabank increased their price objective on shares of BP from $45.00 to $47.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Jefferies Financial Group upgraded shares of BP from a “hold” rating to a “buy” rating and increased their price objective for the company from $38.60 to $42.30 in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, BP presently has an average rating of “Moderate Buy” and a consensus target price of $43.88.

BP Trading Up 0.3 %

NYSE BP opened at $36.09 on Friday. The company has a fifty day simple moving average of $37.02 and a two-hundred day simple moving average of $36.51. The stock has a market cap of $100.54 billion, a P/E ratio of 11.31, a P/E/G ratio of 1.88 and a beta of 0.65. BP p.l.c. has a 12-month low of $33.52 and a 12-month high of $40.84. The company has a current ratio of 1.23, a quick ratio of 0.94 and a debt-to-equity ratio of 0.57.

BP (NYSE:BP) last posted its quarterly earnings results on Tuesday, May 7th. The oil and gas exploration company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.03 by ($0.06). The company had revenue of $48.88 billion during the quarter, compared to analysts’ expectations of $53.65 billion. BP had a return on equity of 13.49% and a net margin of 4.51%. The company’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 EPS. On average, analysts forecast that BP p.l.c. will post 4.76 earnings per share for the current year.

BP Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, May 17th were paid a $0.4362 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.83%. BP’s payout ratio is currently 53.92%.

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.